An evaluation of a joint replenishment inventory model with random demands.

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Author
Kim, Won Bong
Date
1987-03Advisor
Richards, Francis R.
Second Reader
Esary, James D.
Metadata
Show full item recordAbstract
This paper considers a joint replenishment inventory problem with a continuous-review
(S, c, s) policy for the backorder case with Poisson demands and constant
procurement lead times.
Whenever item i's inventory level hits s(i) (reorder point) or lower it triggers an
order so as to raise item i's level to S(i) (order up point). At the same time any other
item j with inventory level at-or-below its can-order point c(j): is included in the
replenishment.
A Poisson demand model with a queueing description of the system's operation is
analysed, and comparisions are conducted for joint versus individual orders in the case
of multi-item problems, where joint replenishment of several items may reduce setup
costs.
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