haku: @author Zheng, T-S. / yhteensä: 1
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| Tekijä: | Zheng, T-S. |
| Otsikko: | On properties of stochastic inventory systems. |
| Lehti: | Management Science
1992 : JAN, VOL. 38:1, p. 87-103 |
| Asiasana: | INVENTORY CONTROL |
| Kieli: | eng |
| Tiivistelmä: | The stochastic order quantity/reorder point model is analyzed in comparison with a corresponding EOQ (deterministic) model. A sentitivity analysis is carried out, and a number of basic qualitative properties are established for the optimal control parameters. In contrast to the deterministic EOQ model, the would be controllable costs of the stochastic model are actually smaller, while the total costs are clearly larger. The relative increase of the costs incurred by using the quantity determined by the EOQ instead of the optimal from the stochastic model is no more than 1/8, and vanishes when the ordering costs are significant relative to other costs. |
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