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The optimal frozen period in a dynamic production model
Zhaotong Lian1; Abhijit Deshmukh2; Jin Wang3
2006-10
Source PublicationInternational journal of production economics
ISSN0925-5273
Volume103Issue:2Pages:847-655
Abstract

We consider a periodic auditing model for manufacturers in a supply chain, who observe stochastic demand, proportional holding/expedited ordering costs, and setup cost. Customer demand for a component can arrive in any period, but the procurement quantities are determined every T periods, which is defined as a frozen period. The demand forecasts are updated every period as more information becomes available from the marketplace. This paper studies a forecast order policy and compares it with the optimal order policy. Our objective is to determine the optimal length of a frozen period and the safety stock in a frozen period such that the expected total cost per unit of time is minimized.

KeywordInventory Optimization Forecast Frozen Period Cost
DOIhttps://doi.org/10.1016/j.ijpe.2005.12.005
Indexed BySCI
Language英语
WOS Research AreaEngineering ; Operations Research & Management Science
WOS SubjectEngineering, Industrial ; Engineering, Manufacturing ; Operations Research & Management Science
WOS IDWOS:000239477900014
PublisherELSEVIER SCIENCE BV, PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
Fulltext Access
Citation statistics
Cited Times [WOS]:4   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
Corresponding AuthorZhaotong Lian
Affiliation1.Faculty of Business Administration, University of Macau, Macao SAR, China
2.Department of Mechanical and Industrial Engineering, University of Massachusetts, Amherst, MA 01003, USA
3.Department of Mathematics and Computer Science, College of Arts and Sciences, Valdosta State University, Valdosta, GA 31698, USA
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Zhaotong Lian,Abhijit Deshmukh,Jin Wang. The optimal frozen period in a dynamic production model[J]. International journal of production economics,2006,103(2):847-655.
APA Zhaotong Lian,Abhijit Deshmukh,&Jin Wang.(2006).The optimal frozen period in a dynamic production model.International journal of production economics,103(2),847-655.
MLA Zhaotong Lian,et al."The optimal frozen period in a dynamic production model".International journal of production economics 103.2(2006):847-655.
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