Solutions in Hadley-Whitin Q-r Models
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Authors
Zehna, Peter W.
Subjects
Inventory
convexity
Q-r models
optimal costs
convexity
Q-r models
optimal costs
Advisors
Date of Issue
1978-01
Date
January 1978
Publisher
Monterey, California. Naval Postgraduate School
Language
Abstract
The Hadley-Whitin approximate Q-r models have been in existence for nearly fifteen years now and are rather Widely used by practitioners because of their simplicity and rather general applicability. There are, however, some questions regarding the characterization of solutions in these models due to the fact that the objective function is not always convex as asserted by the authors. This paper gives a complete characterization of the solutions in both the backorders model and the lost sales case for normal leadtime demand. It brings out the fact that the solution always exists in both cases but may in fact be different from the published one. A simple scheme is provided for isolating the solution in terms of the given values of the parameters for any particular application.
Type
Technical Report
Description
Series/Report No
Department
Operations Research (OR)
Organization
Naval Postgraduate School (U.S.)
Identifiers
NPS Report Number
NPSSS-78-4
Sponsors
Office of Naval Research
Funder
Format
28 p.
Citation
Distribution Statement
Approved for public release; distribution is unlimited.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.