| Author: | Potamianos, J. Orman, A. Shahani, A. |
| Title: | Modelling for a dynamic inventory-production control system |
| Journal: | European Journal of Operational Research
1997 : FEB 1, VOL. 96:3, p. 645-658 |
| Index terms: | DYNAMIC PROGRAMMING SAFETY STOCKS |
| Language: | eng |
| Abstract: | The modelling of an inventory control production scheduling system is discussed. The model uses a Dynamic Programming formulation, incorporating the characteristics of the system, so that it can be used interactively by busy managers. This was achieved by a modified Wagner-Whitin algorithm and an interactive safety stock method. The microcomputer implementation of this model was tested, showing practically useful features, and resulted in substantial cost savings and increased customer service. |
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