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Initiation of an inventory control system when the demand starts at a given time

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  • Axsäter, Sven

Abstract

This paper considers a single-echelon, continuous review, inventory system with a warehouse facing compound Poisson customer demand. The replenishment lead-time is constant. Demand that cannot be met directly is backordered. There are standard linear holding and backorder costs but no set-up or ordering cost. It is assumed that the demand process starts at a certain given time. Consequently, before the demand starts, the lead-time demand is lower than in steady state. This affects the optimal ordering policy. We derive the optimal ordering policy under these assumptions.

Suggested Citation

  • Axsäter, Sven, 2013. "Initiation of an inventory control system when the demand starts at a given time," International Journal of Production Economics, Elsevier, vol. 143(2), pages 553-556.
    • Handle: RePEc:eee:proeco:v:143:y:2013:i:2:p:553-556
    DOI: 10.1016/j.ijpe.2011.05.028
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    References listed on IDEAS

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    1. Ding, Huiping & Grubbstrom, Robert W., 1991. "On the optimization of initial order quantities," International Journal of Production Economics, Elsevier, vol. 23(1-3), pages 79-88, October.
    2. Grubbstrom, Robert W. & Ding, Huiping, 1993. "Initial order quantities in a multistage production system with backlogging," International Journal of Production Economics, Elsevier, vol. 30(1), pages 153-166, July.
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