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Technical Note—On the Solution of an Inventory Model with Variable Lead Times

Author

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  • Georghios P. Sphicas

    (Baruch College, City University of New York, New York)

Abstract

This paper investigates the solution to an inventory model with constant noninterchangeable demand and random lead times with a general distribution. It is shown that two distinct and complementary cases result. In each case bounds are developed for the optimal values of the decision variables. Furthermore, the solution can be reduced to a one-dimensional search for a unique root. The two cases are illustrated with the case of exponential lead times.

Suggested Citation

  • Georghios P. Sphicas, 1982. "Technical Note—On the Solution of an Inventory Model with Variable Lead Times," Operations Research, INFORMS, vol. 30(2), pages 404-410, April.
    • Handle: RePEc:inm:oropre:v:30:y:1982:i:2:p:404-410
    DOI: 10.1287/opre.30.2.404
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    Cited by:

    1. Kim, Taebok & Glock, Christoph H. & Kwon, Yongjang, 2014. "A closed-loop supply chain for deteriorating products under stochastic container return times," Omega, Elsevier, vol. 43(C), pages 30-40.
    2. Achin Srivastav & Sunil Agrawal, 2020. "On a single item single stage mixture inventory models with independent stochastic lead times," Operational Research, Springer, vol. 20(4), pages 2189-2227, December.
    3. Ben-Ammar, Oussama & Bettayeb, Belgacem & Dolgui, Alexandre, 2019. "Optimization of multi-period supply planning under stochastic lead times and a dynamic demand," International Journal of Production Economics, Elsevier, vol. 218(C), pages 106-117.
    4. Mehmood Khan & Matloub Hussain & Leopoldo Eduardo Cárdenas-Barrón, 2017. "Learning and screening errors in an EPQ inventory model for supply chains with stochastic lead time demands," International Journal of Production Research, Taylor & Francis Journals, vol. 55(16), pages 4816-4832, August.
    5. Lawrence W. Robinson & James R. Bradley & L. Joseph Thomas, 2001. "Consequences of Order Crossover Under Order-Up-To Inventory Policies," Manufacturing & Service Operations Management, INFORMS, vol. 3(3), pages 175-188, September.
    6. Xin X. He & Susan H. Xu & J. Keith Ord & Jack C. Hayya, 1998. "An Inventory Model with Order Crossover," Operations Research, INFORMS, vol. 46(3-supplem), pages 112-119, June.
    7. Sarker, Bhaba R. & Coates, Eyler Robert, 1997. "Manufacturing setup cost reduction under variable lead times and finite opportunities for investment," International Journal of Production Economics, Elsevier, vol. 49(3), pages 237-247, May.
    8. Thomas Wensing & Heinrich Kuhn, 2015. "Analysis of production and inventory systems when orders may cross over," Annals of Operations Research, Springer, vol. 231(1), pages 265-281, August.
    9. Hayya, Jack C. & Bagchi, Uttarayan & Kim, Jeon G. & Sun, Daewon, 2008. "On static stochastic order crossover," International Journal of Production Economics, Elsevier, vol. 114(1), pages 404-413, July.
    10. Jeon G. Kim & Daewon Sun & Xin James He & Jack C. Hayya, 2004. "The (s, Q) inventory model with Erlang lead time and deterministic demand," Naval Research Logistics (NRL), John Wiley & Sons, vol. 51(6), pages 906-923, September.
    11. Hayya, Jack C. & Bagchi, Uttarayan & Ramasesh, Ranga, 2011. "Cost relationships in stochastic inventory systems: A simulation study of the (S, S-1, t=1) model," International Journal of Production Economics, Elsevier, vol. 130(2), pages 196-202, April.

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