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Periodic review (s, S) inventory model with permissible delay in payments

Show simple item record Maddah B.S. Jaber M.Y. Abboud N.E.
dc.contributor.editor 2004 2017-10-04T11:06:34Z 2017-10-04T11:06:34Z 2004
dc.identifier 10.1057/palgrave.jors.2601675
dc.identifier.issn 01605682
dc.description.abstract This paper investigates the effect of permissible delay in payments on ordering policies in a periodic review (s, S) inventory model with stochastic demand. A new mathematical model is developed, which is an extension to that of Veinott and Wagner (Mngt Sci 1965; 11: 525) who applied renewal theory and stationary probabilistic analysis to determine the equivalent average cost per review period. The performance of the model is validated using a custom-built simulation programme. In addition, two distribution-free heuristic methods of reasonable accuracy develop approximate optimal policies for practical purposes based only on the mean and the standard deviation of the demand. Numerical examples are presented with results discussed.
dc.format.extent Pages: (147-159)
dc.language English
dc.publisher BASINGSTOKE
dc.relation.ispartof Publication Name: Journal of the Operational Research Society; Publication Year: 2004; Volume: 55; no. 2; Pages: (147-159);
dc.source Scopus
dc.title Periodic review (s, S) inventory model with permissible delay in payments
dc.type Conference Paper
dc.contributor.affiliation Maddah, B.S., Virginia Tech, Blacksburg, VA, United States
dc.contributor.affiliation Jaber, M.Y., Ryerson University, Toronto, Ont., Canada, Department of Mechanical Engineering, Ryerson University, Toronto, Ont. M5B 2K3, Canada
dc.contributor.affiliation Abboud, N.E., American University of Beirut, Beirut, Lebanon
dc.contributor.authorAddress Jaber, M.Y.; Department of Mechanical Engineering, Ryerson University, Toronto, Ont. M5B 2K3, Canada; email:
dc.contributor.authorCorporate University: American University of Beirut; Faculty: Faculty of Engineering and Architecture; Department: Electrical and Computer Engineering;
dc.contributor.authorDepartment Electrical and Computer Engineering
dc.contributor.faculty Faculty of Engineering and Architecture
dc.contributor.authorInitials Maddah, BS
dc.contributor.authorInitials Jaber, MY
dc.contributor.authorInitials Abboud, NE
dc.contributor.authorReprintAddress Jaber, MY (reprint author), Ryerson Univ, Dept Mech and Ind Engn, Toronto, ON M5B 2K3, Canada.
dc.contributor.authorUniversity American University of Beirut
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dc.description.citedCount 17
dc.description.citedTotWOSCount 19
dc.description.citedWOSCount 12
dc.format.extentCount 13
dc.identifier.coden JORSD
dc.identifier.scopusID 2342450074
dc.relation.ispartOfISOAbbr J. Oper. Res. Soc.
dc.relation.ispartOfIssue 2
dc.relation.ispartofPubTitle Journal of the Operational Research Society
dc.relation.ispartofPubTitleAbbr J Oper Res Soc
dc.relation.ispartOfVolume 55
dc.source.ID WOS:000188741300007
dc.type.publication Journal
dc.subject.otherAuthKeyword (s, S) policy
dc.subject.otherAuthKeyword Heuristicse
dc.subject.otherAuthKeyword Periodic review
dc.subject.otherAuthKeyword Permissible delay in payments-supplier credit
dc.subject.otherAuthKeyword Service level
dc.subject.otherAuthKeyword Simulation
dc.subject.otherAuthKeyword Stochastic demand
dc.subject.otherIndex Approximation theory
dc.subject.otherIndex Costs
dc.subject.otherIndex Data acquisition
dc.subject.otherIndex Decision making
dc.subject.otherIndex Heuristic methods
dc.subject.otherIndex Mathematical models
dc.subject.otherIndex Probabilistic logics
dc.subject.otherIndex Stochastic control systems
dc.subject.otherIndex (s, S) policy
dc.subject.otherIndex Periodic review
dc.subject.otherIndex Permissible delay in payments-supplier credit
dc.subject.otherIndex Service level
dc.subject.otherIndex Stochastic demand
dc.subject.otherIndex Inventory control
dc.subject.otherKeywordPlus ECONOMIC ORDER QUANTITY
dc.subject.otherKeywordPlus POWER APPROXIMATION
dc.subject.otherKeywordPlus TRADE CREDIT
dc.subject.otherKeywordPlus LOT-SIZE
dc.subject.otherKeywordPlus SUPPLIER CREDIT
dc.subject.otherKeywordPlus S, S POLICIES
dc.subject.otherKeywordPlus PRICE
dc.subject.otherKeywordPlus INFLATION
dc.subject.otherKeywordPlus PRODUCTS
dc.subject.otherWOS Management
dc.subject.otherWOS Operations Research and Management Science

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