A Model for Continuous-Review Pull Policies in Serial Inventory Systems
Operations Research · 1992 · Volume 40 · Issue 1
Abstract
In this paper, we construct a model of the steady-state values of on-hand inventory and backorders for each facility of a serial inventory system in which each facility follows a ( Q , R ) policy based on installation stock. Such policies are represented by the popular kanban systems as well as more conventional applications of ( Q , R ) policies. The descriptive model presented here is intended for optimizing the parameters of such a policy and for obtaining theoretical results about the behavior of the system. We also illustrate the potential of the model for providing insights into system performance.
Keywords
inventory/production, multi-echelon: descriptive model of policy performance, probability, stochastic model applications: steady-state inventory performance under stochastic demand
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