Inventory models with unreliable suppliers in a random environment

被引:117
|
作者
Özekici, S [1 ]
Parlar, M
机构
[1] Bogazici Univ, Dept Ind Engn, TR-80815 Bebek, Istanbul, Turkey
[2] McMaster Univ, Sch Business, Hamilton, ON L8S 4M4, Canada
关键词
supply uncertainty; random environment; dynamic programming; base-stock; (s; S); policy;
D O I
10.1023/A:1018937420735
中图分类号
C93 [管理学]; O22 [运筹学];
学科分类号
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要
We consider infinite-horizon periodic-review inventory models with unreliable suppliers where the demand, supply and cost parameters change with respect to a randomly changing environment. Although our analysis will be in the context of an inventory model, it is also appropriate for production systems with unreliable machines where planning is done on a periodic basis. It is assumed that the environmental process follows a Markov chain. The stock-flow equations of the inventory system subject to environmental fluctuations is represented using a two-dimensional stochastic process. We show that an environment-dependent order-up-to level (i.e., base-stock) policy is optimal when the order cost is linear in order quantity. When there is also a fixed cost of ordering, we show that a two-parameter environment-dependent (s, S) policy is optimal under reasonable conditions. We also discuss computational issues and some extensions.
引用
收藏
页码:123 / 136
页数:14
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