The value of advance demand information in production/inventory systems

The value of advance demand information in production/inventory systems

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Article ID: iaor20042440
Country: Netherlands
Volume: 126
Issue: 1
Start Page Number: 135
End Page Number: 157
Publication Date: Feb 2004
Journal: Annals of Operations Research
Authors: , ,
Abstract:

Advance demand information, when used effectively, improves the performance of production/inventory systems. In this paper, we investigate the value of advance demand information in production/inventory systems. For a single-stage make-to-stock queue, we assess the value of using advance demand information under a variety of assumptions on the cost of obtaining advance demand information, and the delivery timing requirements. This analysis enables us to identify conditions under which advance demand information may bring significant benefits.

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