Article ID: | iaor19992787 |
Country: | Netherlands |
Volume: | 56/57 |
Issue: | 1 |
Start Page Number: | 511 |
End Page Number: | 516 |
Publication Date: | Sep 1998 |
Journal: | International Journal of Production Economics |
Authors: | Ouyang Liang-Yuh, Wu Kun-Shan |
Keywords: | economic order |
In this article, both lead time and the order quantity are considered as the decision variables of a mixed inventory model. In our studies, we relax the assumption about the form of the cumulative distribution function of the lead-time demand and apply the minimax distribution free procedure to solve the problem. We develop an algorithmic procedure to find the optimal order quantity and optimal lead time. Furthermore, the effects of parameters are also studied.