An investigation of setup instability in non-stationary stochastic inventory systems

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Atıf İçin Kopyala

Kilic O. A., TARIM Ş. A.

INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, cilt.133, sa.1, ss.286-292, 2011 (SCI-Expanded)

• Yayın Türü: Makale / Tam Makale
• Cilt numarası: 133 Sayı: 1
• Basım Tarihi: 2011
• Doi Numarası: 10.1016/j.ijpe.2010.04.021
• Dergi Adı: INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
• Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus
• Sayfa Sayıları: ss.286-292
• Hacettepe Üniversitesi Adresli: Evet

Özet

In stochastic inventory systems unfolding uncertainties in demand lead to the revision of earlier replenishment plans which in turn results in an instability or so-called system nervousness. In this paper, we provide the grounds for measuring system nervousness in non-stationary demand environments, and gauge the stability and the cost performances of (R,S) and (s,S) inventory policies. Our results reveal that, both the stability and the cost performance of inventory policies are affected by the demand pattern as well as the cost parameters, and the (R,S) policy has the potential to replace the cost-optimal (s,S) policy for systems with limited flexibility. (C) 2010 Published by Elsevier B.V.