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http://hdl.handle.net/10397/77211
Title: | Inventory control system for a healthcare apparel service centre with stockout risk : a case analysis | Authors: | Pan, A Hui, CL |
Issue Date: | 2017 | Source: | Journal of healthcare engineering, 2017, v. 2017, 9210532, p. 1-12 | Abstract: | 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. | Publisher: | Hindawi Publishing Corporation | Journal: | Journal of healthcare engineering | ISSN: | 2040-2295 | EISSN: | 2040-2309 | DOI: | 10.1155/2017/9210532 | Rights: | Copyright © 2017 An Pan and Chi-Leung Hui. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The following article: An Pan and Chi-Leung Hui, “Inventory Control System for a Healthcare Apparel Service Centre with Stockout Risk: A Case Analysis,” Journal of Healthcare Engineering, vol. 2017, Article ID 9210532, 2017, 1-12 is available at https://doi.org/10.1155/2017/9210532. |
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