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Excerpt from Promise Date Policies in Inventory Theory
Inventory theory is concerned primarily with procedures for minimizing the cost of replenishing, holding and being without a stock of needed goods. In most models, including the one considered in this paper, the problem is viewed in terms of a finite number of sequential time periods. Within each of these periods, the basic inventory cycle of replenish ment, receipt of orders, and shipment of stock against current and earlier orders takes place. Three components of cost are incurred in the course of each period. The replenishment cost is assumed usually to be a convex function of the amount of stock received, indicating the possibility of greater economy through increased volume. The cost of holding stock is assumed to be a function of the remaining stock level after replenishment and shipment. The shortage cost-the cost of not being able to fill orders on time-is assumed usually to depend on the total amount of all unshipped orders at the end of the period.
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Paperback. Zustand: New. Print on Demand. This book explores the theoretical fundamentals underlying inventory management systems, where orders can be promised for delivery in any future period specified by the customer. This approach to inventory managementâ"referred to as promise date policiesâ"is a novel concept that departs from traditional models where any order not shipped within its receipt period is considered late. The author develops a comprehensive mathematical framework for promise date policies under both deterministic and stochastic demand and introduces the concept of urgency structure which characterizes the fraction of demand requiring a promise date within a given number of periods. The book provides a characterization of optimal promise date policies and demonstrates a reduction to a simpler optimization problem in a set of feasible deferred demand schedules. The author also introduces a constructive SCOUR (Scheduling for Control of Outstanding Urgency Requirements) algorithm for determining optimal promise date policies and discusses the FIFO (First-In, First-Out) construction for promise date policies. This book is a valuable resource for researchers, practitioners, and students in the field of inventory management, providing a deeper understanding of promise date policies and their applications. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781334239212_0
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Zustand: New. KlappentextrnrnExcerpt from Promise Date Policies in Inventory TheoryInventory theory is concerned primarily with procedures for minimizing the cost of replenishing, holding and being without a stock of needed goods. In most models, incl. Bestandsnummer des Verkäufers 2148125369
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