Reducing inventory uncertainty: A reorder point system with two vendors

Reducing inventory uncertainty: A reorder point system with two vendors

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Article ID: iaor1990852
Country: United States
Volume: 28
Start Page Number: 43
End Page Number: 49
Publication Date: Oct 1987
Journal: Production and Inventory Management Journal
Authors: ,
Abstract:

Computer simulation studies demonstrate that splitting orders between several vendors improves inventory performance in a reorder point, order quantity inventory control system. The authors show that going from one vendor to two reduces (a) the risk of a stockout between receipts of orders, (b) the average inventory on hand, and (c) the number of stockouts when compared with placing orders with a single vendor.

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