Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/60582
Title: (T, S) policy for coordinated inventory replenishment systems under compound Poisson demands
Authors: Fung, RYK
Ma, X
Lau, HCW
Keywords: Inventory
Joint-REPLENISHMENT
Stochastic Model
Issue Date: 2001
Publisher: Taylor & Francis
Source: Production planning and control, 2001, v. 12, no. 6, p. 575-583 How to cite?
Journal: Production planning and control 
Abstract: This paper considers the coordinated 'periodic-review, order-up-to-level' policy, called (T, S) policy, for multi-item inventory systems. The mathematical model of (T, S) policy for single-item inventory systems is extended to the more realistic multi-item inventory systems with compound Poisson demands, positive replenishment lead times, as well as service level constraints. Numerical comparisons with 'can-order' policy (S, c, s) with different treatments show that the (T, S) policy outperforms the extensively studied (S, c, s) policy. Especially when the lead time is not too short, considerable cost reductions can be achieved through an inventory system employing the (T, S) policy.
URI: http://hdl.handle.net/10397/60582
ISSN: 0953-7287
EISSN: 1366-5871
DOI: 10.1080/095372801750397699
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