A bi-modal inventory study with random lead times
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Authors
Washburn, Alan R.
Subjects
Advisors
Date of Issue
1973-09
Date
Publisher
Monterey, CA; Naval Postgraduate School
Language
Abstract
A single-product continuous review inventory problem is formulated and solved. The chief virtue of the formulation is that the probability distribution of lead times is general. It is found that the optimal order size differs from the Wilson EOQ when holding costs or deterioration rate (both are lumped into a single discount rate) are large, and that it may even be a non-unique quantity. The second (fast) shipment mode enters in the same manner as a stockout cost. (Author)
Type
Technical Report
Description
Series/Report No
Department
Operations Research and Administrative Sciences
Organization
Identifiers
NPS Report Number
NPS-55WS73091A
Sponsors
Naval Postgraduate School, Monterey, CA.
Funding
Format
Citation
Distribution Statement
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.