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Dual Sourcing Policy for a Continuous-Review Stochastic Inventory System

文献类型：期刊论文

作者Cao, Ping3; Yao, Dacheng1,2
刊名IEEE TRANSACTIONS ON AUTOMATIC CONTROL
出版日期2019-07-01
卷号64期号:7页码:2921-2928
关键词Brownian motion demand dual sourcing inventory control setup cost (s, S) policy
ISSN号0018-9286
DOI10.1109/TAC.2018.2872205
英文摘要We study a continuous-review inventory system with dual sourcing modes and Brownian motion demand. The regular order is from one supplier at some constant rate with a low unit cost while the expedite order is from the other one with a fixed setup cost and an expensive unit cost. With usual holding/shortage cost, the system's objective is to choose a regular constant order rate and an expedite replenishment policy such that the long-run average cost is minimized. We show that the regular ordering rate must be strictly less than the expected demand rate and an optimal expedite ordering policy is the well-known (s, S) policy. In particular, based on the theoretical analysis, we give a computational algorithm to demonstrate how to find the optimal regular ordering rate lambda* and expedite policy parameters s* and S*. Finally, using the algorithm, we investigate the effects of system's parameters on the optimal policy parameters and value of dual sourcing by numerical studies.
资助项目National Science Foundation of China[11771432] ; National Science Foundation of China[71771202] ; National Science Foundation of China[71520107002]
WOS研究方向Automation & Control Systems ; Engineering
语种英语
WOS记录号WOS:000473489700023
出版者IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
源URL[http://ir.amss.ac.cn/handle/2S8OKBNM/35145]  
专题应用数学研究所
通讯作者Yao, Dacheng
作者单位1.Chinese Acad Sci, Acad Math & Syst Sci, Inst Appl Math, Beijing 100190, Peoples R China
2.Chinese Acad Sci, MADIS, Beijing 100190, Peoples R China
3.Univ Sci & Technol China, Sch Management, Hefei 230026, Anhui, Peoples R China
推荐引用方式
GB/T 7714		 Cao, Ping,Yao, Dacheng. Dual Sourcing Policy for a Continuous-Review Stochastic Inventory System[J]. IEEE TRANSACTIONS ON AUTOMATIC CONTROL,2019,64(7):2921-2928.
APA Cao, Ping,&Yao, Dacheng.(2019).Dual Sourcing Policy for a Continuous-Review Stochastic Inventory System.IEEE TRANSACTIONS ON AUTOMATIC CONTROL,64(7),2921-2928.
MLA Cao, Ping,et al."Dual Sourcing Policy for a Continuous-Review Stochastic Inventory System".IEEE TRANSACTIONS ON AUTOMATIC CONTROL 64.7(2019):2921-2928.

入库方式： OAI收割

来源：数学与系统科学研究院

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