Periodic Review Inventory Systems: Performance Analysis and Optimization of Inventory Systems within Supply Chains
The focus of the work is twofold. First, it provides an introduction into fundamental structural and behavioral aspects of periodic review inventory systems. Second, it includes a comprehensive study on analytical and optimization aspects of a specific class of those systems. For the latter purpose, general solution methods for problems of inventory management in discrete time are described and developed along with highly specialized methods to solve very specific problems related to the model variants examined. The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.
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Algorithm analysis analyze approach arrival sequence backorder costs basic bisection method computational complexity configuration constant lead continuous review convolution corresponding cost function customer demand customer order arrival customer waiting demand arrivals demand distributions demand process dependent lead derive determine discretely distributed effective lead elt C rg Example instances exponentially distributed fill rate fixed order costs full deliveries Hadley and Whitin interarrival interval inventory holding inventory levels inventory model inventory position issued lead time demand literature LnC1 D elt mean backorder amount mean inventory metrics n-th delivery normal distribution observe optimal optimum order crossover order cycle outstanding orders PDFX Periodic Review Inventory PfWV probability problem purchase order quantile function random variables ready rate replenishment lead replenishment order Review Inventory Systems rg PfL ropt Sect service level split deliveries stochastic lead stockout Table truncated distribution truth function values xmin Xspan