Optimal ordering in a dual-supplier system with demand forecast updates

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	Optimal ordering in a dual-supplier system with demand forecast updates
	Yan, HM ; Liu, K; Hsu, A
	2003-03-01
发表期刊	PRODUCTION AND OPERATIONS MANAGEMENT
ISSN	1059-1478
卷号	12 期号:1 页码:30-45
摘要	We study how an updated demand forecast affects a manufacturer's choice in ordering raw materials. With demand forecast updates, we develop a model where raw materials are ordered from two suppliers-one fast but expensive and the other cheap but slow-and further provide an explicit solution to the resulting dynamic optimization problem. Under some mild conditions, we demonstrate that the cost function is convex and twice-differentiable with respect to order quantity. With this model, we are able to evaluate the benefit of demand information updating which leads to the identification of directions for further improvement. We further demonstrate that the model applies to multiple-period problems provided that some demand regularity conditions are satisfied. Data collected from a manufacturer support the structure and conclusion of the model. Although the model is described in the context of in-bound logistics, it can be applied to production and out-bound logistics decisions as well.
关键词	supply chain management demand information revisions forecasting
语种	英语
WOS研究方向	Engineering ; Operations Research & Management Science
WOS类目	Engineering, Manufacturing ; Operations Research & Management Science
WOS记录号	WOS:000183984000003
出版者	PRODUCTION OPERATIONS MANAGEMENT SOC
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/18197
专题	应用数学研究所
通讯作者	Yan, HM
作者单位	1.Chinese Univ Hong Kong, Dept Syst Engn & Engn Management, Shatin, Hong Kong, Peoples R China 2.Chinese Acad Sci, Inst Appl Math, Acad Math & Syst Sci, Beijing, Peoples R China 3.United Technol Res Ctr, E Hartford, CT 06108 USA
推荐引用方式 GB/T 7714	Yan, HM,Liu, K,Hsu, A. Optimal ordering in a dual-supplier system with demand forecast updates[J]. PRODUCTION AND OPERATIONS MANAGEMENT,2003,12(1):30-45.
APA	Yan, HM,Liu, K,&Hsu, A.(2003).Optimal ordering in a dual-supplier system with demand forecast updates.PRODUCTION AND OPERATIONS MANAGEMENT,12(1),30-45.
MLA	Yan, HM,et al."Optimal ordering in a dual-supplier system with demand forecast updates".PRODUCTION AND OPERATIONS MANAGEMENT 12.1(2003):30-45.