A minimax distribution free procedure for mixed inventory model with variable lead time

A minimax distribution free procedure for mixed inventory model with variable lead time

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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: ,
Keywords: economic order
Abstract:

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.

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