An improved decision rule for emergency replenishments
(2014) In International Journal of Production Economics 157. p.313-317- Abstract
- This paper provides a new decision rule for emergency replenishments in an inventory system. The decision rule is a generalization of a previous decision rule suggested and evaluated in Axsater (2003, 2007). An improvement step is added to this rule and this often means considerably better performance. The decisions are based on complete information about the system state. An advantage with our decision rule is its generality. It is possible to handle batch ordering, compound Poisson demand and emergency replenishments that take time. The decision rule has also a performance guarantee in the sense that emergency replenishments will always lead to lower expected costs. The rule can also be used in connection with lateral transshipments. (C)... (More)
- This paper provides a new decision rule for emergency replenishments in an inventory system. The decision rule is a generalization of a previous decision rule suggested and evaluated in Axsater (2003, 2007). An improvement step is added to this rule and this often means considerably better performance. The decisions are based on complete information about the system state. An advantage with our decision rule is its generality. It is possible to handle batch ordering, compound Poisson demand and emergency replenishments that take time. The decision rule has also a performance guarantee in the sense that emergency replenishments will always lead to lower expected costs. The rule can also be used in connection with lateral transshipments. (C) 2014 Elsevier B.V. All rights reserved. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/4965696
- author
- Axsäter, Sven LU
- organization
- publishing date
- 2014
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- Inventory, Stochastic, Emergency replenishments, Lateral transshipments
- in
- International Journal of Production Economics
- volume
- 157
- pages
- 313 - 317
- publisher
- Elsevier
- external identifiers
-
- wos:000345734100032
- scopus:85027920346
- ISSN
- 0925-5273
- DOI
- 10.1016/j.ijpe.2014.01.021
- language
- English
- LU publication?
- yes
- id
- f753166b-1952-45e8-91bc-86d4743df729 (old id 4965696)
- date added to LUP
- 2016-04-01 13:18:15
- date last changed
- 2023-03-10 18:40:42
@article{f753166b-1952-45e8-91bc-86d4743df729,
abstract = {{This paper provides a new decision rule for emergency replenishments in an inventory system. The decision rule is a generalization of a previous decision rule suggested and evaluated in Axsater (2003, 2007). An improvement step is added to this rule and this often means considerably better performance. The decisions are based on complete information about the system state. An advantage with our decision rule is its generality. It is possible to handle batch ordering, compound Poisson demand and emergency replenishments that take time. The decision rule has also a performance guarantee in the sense that emergency replenishments will always lead to lower expected costs. The rule can also be used in connection with lateral transshipments. (C) 2014 Elsevier B.V. All rights reserved.}},
author = {{Axsäter, Sven}},
issn = {{0925-5273}},
keywords = {{Inventory; Stochastic; Emergency replenishments; Lateral transshipments}},
language = {{eng}},
pages = {{313--317}},
publisher = {{Elsevier}},
series = {{International Journal of Production Economics}},
title = {{An improved decision rule for emergency replenishments}},
url = {{http://dx.doi.org/10.1016/j.ijpe.2014.01.021}},
doi = {{10.1016/j.ijpe.2014.01.021}},
volume = {{157}},
year = {{2014}},
}