The Lead Time and Inventory Control Problem

1976 ◽  
Vol 27 (4) ◽  
pp. 971
Author(s):  
M. N. Cawdery
Keyword(s):  
Control Problem ◽  
Inventory Control ◽  
Lead Time ◽  
Inventory Control Problem

scholarly journals Inventory Control System for a Healthcare Apparel Service Centre with Stockout Risk: A Case Analysis

2017 ◽  
Vol 2017 ◽  
pp. 1-12
Author(s):  
An Pan ◽  
Chi-Leung Hui
Keyword(s):  
Control Problem ◽  
Inventory Control ◽  
Lead Time ◽  
Control Policy ◽  
The Elderly ◽  
Inventory Cost ◽  
Product Demand ◽  
Service Centre ◽  
Inventory Control Policy ◽  
Inventory Control Problem

Based on the real-world inventory control problem of a capacitated healthcare apparel service centre in Hong Kong which provides tailor-made apparel-making services for the elderly and disabled people, this paper studies a partial backordered continuous review inventory control problem in which the product demand follows a Poisson process with a constant lead time. The system is controlled by an (Q,r) inventory policy which incorporate the stockout risk, storage capacity, and partial backlog. The healthcare apparel service centre, under the capacity constraint, aims to minimize the inventory cost and achieving a low stockout risk. To address this challenge, an optimization problem is constructed. A real case-based data analysis is conducted, and the result shows that the expected total cost on an order cycle is reduced substantially at around 20% with our proposed optimal inventory control policy. An extensive sensitivity analysis is conducted to generate additional insights.

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