Coordinated replenishments in inventory systems with correlated demands

CSpace

	Coordinated replenishments in inventory systems with correlated demands
	Liu, LM ; Yuan, XM
	2000-06-16
发表期刊	EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
ISSN	0377-2217
卷号	123 期号:3 页码:490-503
摘要	Demand correlation among different inventory items is common in real-life multi-item inventory systems. However, this phenomenon has not received sufficient attention in the existing inventory literature. In this paper, we construct a Markovian model for a two-item inventory system with correlated demands and coordinated replenishments, We obtain an expression for the long-run total cost per unit of time under the can-order replenishment policy. For the scenario with independent replenishments, the explicit formula for the long-run total cost per time unit call be derived, which leads to analytical solutions for the optimal policies. We then present numerical examples of the optimal can-order policies and discuss some managerial insights regarding demand correlation and replenishment coordination. Our numerical results also suggest a possible heuristic method for obtaining can-order replenishment policies for multi-item systems. (C) 2000 Elsevier Science B.V. All rights reserved.
关键词	inventory correlated demands coordinated replenishments absorption times PH distributions
语种	英语
WOS研究方向	Business & Economics ; Operations Research & Management Science
WOS类目	Management ; Operations Research & Management Science
WOS记录号	WOS:000086887300004
出版者	ELSEVIER SCIENCE BV
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/15338
专题	中国科学院数学与系统科学研究院
通讯作者	Liu, LM
作者单位	1.Hong Kong Univ Sci & Technol, Dept Ind Engn & Engn Management, Kowloon, Hong Kong, Peoples R China 2.Chinese Acad Sci, Inst Appl Math, Beijing 100080, Peoples R China
推荐引用方式 GB/T 7714	Liu, LM,Yuan, XM. Coordinated replenishments in inventory systems with correlated demands[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,2000,123(3):490-503.
APA	Liu, LM,&Yuan, XM.(2000).Coordinated replenishments in inventory systems with correlated demands.EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,123(3),490-503.
MLA	Liu, LM,et al."Coordinated replenishments in inventory systems with correlated demands".EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 123.3(2000):490-503.