Bendaya, M. and Hariga, M Lead-Time Reduction In A Stochastic Inventory System With Learning Consideration. INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH, 41. pp. 571-579.
|PDF (Lead-Time Reduction In A Stochastic Inventory System With Learning Consideration)|
We develop a continuous review inventory model where lead-time is considered as a controllable variable. Lead-time is decomposed into all its components: set-up time, processing time and non-productive time. These components reflect the setup cost reduction, lot size lead-time interaction and lead-time crashing, respectively. The learning effect in the production process is also included in the processing time component of the lead-time. The finite investment approach for lead-time and set-up cost reduction and their joint optimization, in addition to the lot size lead-time interaction, introduce a realistic direction in lead-time management and control. A numerical example and a sensitivity analysis are presented using the design of experiments to investigate the effect of the model parameters and, in particular, those related to the different lead-time components on the the expected total cost.
|Divisions:||College Of Computer Sciences and Engineering > Systems Engineering Dept|
|Creators:||Bendaya, M. and Hariga, M|
|Deposited By:||MR. ATIQ WALIULLAH SIDDIQUI|
|Deposited On:||14 Jun 2008 14:05|
|Last Modified:||12 Apr 2011 13:13|
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