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On single item time weighted mixture inventory models with independent stochastic lead times

Author

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  • Achin Srivastav
  • Sunil Agrawal

Abstract

In this paper, mixture inventory models are developed considering shortages as combination fixed and time weighted backorders with lost sales. The inventory policy assumes single item having deterministic demand where the lead time is stochastic. For the time weighted backorders case, the backorder cost depends on the length of time of shortage. A numerical example is shown to illustrate the results. A sensitivity analysis is conducted to see changes in the optimal parameters with the changing proportion of backorders in the mixture of backorders and lost sales. Finally, the paper shows the benefits of order crossover by comparing interchangeable demand case over non-interchangeable demand.

Suggested Citation

  • Achin Srivastav & Sunil Agrawal, 2015. "On single item time weighted mixture inventory models with independent stochastic lead times," International Journal of Services and Operations Management, Inderscience Enterprises Ltd, vol. 22(1), pages 101-121.
    • Handle: RePEc:ids:ijsoma:v:22:y:2015:i:1:p:101-121
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    Cited by:

    1. Achin Srivastav & Sunil Agrawal, 2020. "On a single item single stage mixture inventory models with independent stochastic lead times," Operational Research, Springer, vol. 20(4), pages 2189-2227, December.
    2. Achin Srivastav & Sunil Agrawal, 2020. "Multi-objective optimization of mixture inventory system experiencing order crossover," Annals of Operations Research, Springer, vol. 290(1), pages 943-960, July.

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