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| An Inventory Model with Dynamic Emergency Ordering under Stochastic Lead Time |
| SUN Lei,ZHU Qiong,ZHANG Jie |
| (School of Mechanical Engineering, Shanghai Jiaotong University, Shanghai 200240, China) |
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Abstract Under the stochastic lead time and uncertain demand in the inventory system, an emergency ordering policy to optimize inventory replenishment was studied. Based on the classic (Q,R) policy, the inventory model with real time information in the process of regular ordering was set up. By comparing different cycle expected cost with different choices, this paper gave the expressions to calculate the optimal emergency ordering point and order amount. The numerical analysis shows that the model proposed can save much cost and it also proves the rationality of the optimal solution and the influence of the cost of emergency order.
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Received: 29 July 2009
Published: 30 March 2010
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