Stochastic inventory system with lead time flexibility: offered by a manufacturer/transporter

doi:10.1057/s41274-016-0172-5

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	Stochastic inventory system with lead time flexibility: offered by a manufacturer/transporter
	Cakanyildirim, Metin 1; Luo, Sirong 2
刊名	JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY
	2017-12
卷号	68 期号:12 页码:1533-1552
关键词	supply chain management stochastic (R, Q) inventory system lead time flexibility
ISSN号	0160-5682
DOI	10.1057/s41274-016-0172-5
英文摘要	This paper studies lead time flexibility in a two-stage continuous review supply chain in which the retailer uses the (R, Q) inventory system: when his inventory position reaches R, the retailer places orders with size Q to the manufacturer, who uses a transportation provider to deliver them with different lead time options. According to the contract, the manufacturer is able to expedite or postpone the delivery if the retailer makes such a request. Hence, the retailer has the flexibility to modify the lead time by using the most up-to-date demand information. The optimal lead time policy is found to be a threshold-type policy. The sensitivity analysis also shows that R is much more sensitive to the change of lead time than Q, and thus, the paper is primarily focused on finding optimal R. We also provide a cost approximation which yields unimodal cost in R. Furthermore, we analyze the order crossing problem and derive an upper bound for the probability of order crossing. Finally, we conduct an extensive sensitivity analysis to illustrate the effects of lead time flexibility on supply chain performance and discuss the managerial insights.
WOS研究方向	Business & Economics ; Operations Research & Management Science
语种	英语
出版者	PALGRAVE MACMILLAN LTD
WOS记录号	WOS:000416798000006
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/835]
专题	上海财经大学
通讯作者	Luo, Sirong
作者单位	1.Univ Texas Dallas, Naveen Jindal Sch Management, Richardson, TX 75083 USA; 2.Shanghai Univ Finance & Econ, Sch Stat & Management, 777 Guoding Rd, Shanghai 200433, Peoples R China
推荐引用方式 GB/T 7714	Cakanyildirim, Metin,Luo, Sirong. Stochastic inventory system with lead time flexibility: offered by a manufacturer/transporter[J]. JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY,2017,68(12):1533-1552.
APA	Cakanyildirim, Metin,&Luo, Sirong.(2017).Stochastic inventory system with lead time flexibility: offered by a manufacturer/transporter.JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY,68(12),1533-1552.
MLA	Cakanyildirim, Metin,et al."Stochastic inventory system with lead time flexibility: offered by a manufacturer/transporter".JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY 68.12(2017):1533-1552.