Note on optimal ordering policy with different lead times and convex ordering costs

Note on optimal ordering policy with different lead times and convex ordering costs

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Article ID: iaor201112225
Volume: 32
Issue: 3
Start Page Number: 369
End Page Number: 376
Publication Date: May 2011
Journal: Optimal Control Applications and Methods
Authors:
Keywords: time series: forecasting methods, inventory: order policies, control
Abstract:

This note generalizes Fukuda's two-alternate-lead-times model (1964) with linear ordering costs to the case where the ordering costs are convex. We use lattice programming to show the qualitative properties of an optimal ordering policy if the ordering costs are convex and to further characterize the structure of an optimal ordering policy if the ordering costs are convex and piecewise linear.

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