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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/10611

Title: A linear programming formulation for an inventory management decision with a service constraint
Authors: JANSSENS, Gerrit
Issue Date: 2009
Citation: The International Workshop on Modelling & Applied Simulation. p. 141-147.
Abstract: Inventory systems with uncertainty go hand in hand with the determination of a safety stock level. The decision on the safety stock level is based on a performance measure, for example, the expected shortage per replenishment period of the probability distribution during lead time, which might not be available. In case of incomplete information regarding the lead-time distribution of demand, no single figure for the safety stock can be determined in order to satisfy a performance measure. However, an optimisation model may be formulated in order to determine a safety stock level which guarantees the performance measure under the worst case of lead-time demand, of which the distribution is known in an incomplete way. It is shown that this optimisation problem can be formulated as a linear programming problem.
URI: http://hdl.handle.net/1942/10611
ISBN: 978-84-692-5417-2
Category: C1
Type: Proceedings Paper
Appears in Collections: Research publications

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