IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v42y1996i10p1409-1419.html
   My bibliography  Save this article

Inventory Control with Information About Supply Conditions

Author

Listed:
  • Jing-Sheng Song

    (Department of Industrial Engineering and Operations Research, Columbia University, New York, New York 10027)

  • Paul H. Zipkin

    (Fuqua School of Business, Duke University, Durham, North Carolina 27708-0120)

Abstract

This paper presents an inventory-control model which includes a Markovian model of the supply system. As that system evolves over time, so do the replenishment leadtimes. The optimal policy has the same structure as in standard models, but its parameters change dynamically to reflect current supply conditions. In this setting, contrary to conventional wisdom, a longer leadtime does not necessarily imply more inventory. The leadtime is important, but so is a concept we call order coverage.

Suggested Citation

  • Jing-Sheng Song & Paul H. Zipkin, 1996. "Inventory Control with Information About Supply Conditions," Management Science, INFORMS, vol. 42(10), pages 1409-1419, October.
    • Handle: RePEc:inm:ormnsc:v:42:y:1996:i:10:p:1409-1419
    DOI: 10.1287/mnsc.42.10.1409
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.42.10.1409
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.42.10.1409?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:42:y:1996:i:10:p:1409-1419. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.