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Note---A Note on the Dynamic Lot-Size Model with Uncertainty in Demand and Supply Processes

Author

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  • E. J. Anderson

    (Management Studies Group, Engineering Department, Cambridge University, Cambridge, United Kingdom CB2 1RX)

Abstract

In this paper we give some extensions of a result of Nevison and Burstein (Nevison, C. H., M. Burstein. 1984. The dynamic lot-size model with stochastic lead times. Management Sci. 30 100--109.), who discuss a dynamic lot-sizing model with stochastic lead times. They consider a situation in which the lead time distribution is unaltered by the amount which is ordered, but is otherwise arbitrary, and characterize the optimal solution in terms of points at which there is zero inventory. Here we give a more precise characterization, and show that these results can be extended to a situation in which the demands are also stochastic, and in which there is uncertainty relating to quantity as well as to the timing of demands and order arrivals. The method of proof that we use is different from that used by Nevison and Burstein.

Suggested Citation

  • E. J. Anderson, 1989. "Note---A Note on the Dynamic Lot-Size Model with Uncertainty in Demand and Supply Processes," Management Science, INFORMS, vol. 35(5), pages 635-640, May.
    • Handle: RePEc:inm:ormnsc:v:35:y:1989:i:5:p:635-640
    DOI: 10.1287/mnsc.35.5.635
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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. Riezebos, Jan, 2006. "Inventory order crossovers," International Journal of Production Economics, Elsevier, vol. 104(2), pages 666-675, December.
    3. Jans, R.F. & Degraeve, Z., 2005. "Modeling Industrial Lot Sizing Problems: A Review," ERIM Report Series Research in Management ERS-2005-049-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    4. 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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