Reorder Point and Replenishment Point of Dynamic Inventory Model  under Shortages

İbrahim Zeki AKYURT

Makale detayları

Reorder Point and Replenishment Point of Dynamic Inventory Model under Shortages

Yazarlar:

İbrahim Zeki AKYURT

Yayıncı:

Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi:

Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.69-85

Belge Tipi:

Makale

Yayın Tarihi:

3/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000602382

Sıklık:

İki Yıllık

eISSN:

2147-7035

pISSN:

2147-6071

Özet:

 

In this study, single item dynamic inventory control model is analyzed. In this model the decision maker counts the inventory periodically, calculates the reorder point and the replenishment point, and decides to replenish the stock according to the inventory position. This calculation is difficult and requires complex mathematical transactions when the demand and lead time are stochastic. For this reason, in this study, the simulation method and genetic algorithms method are used to calculate the reorder point and replenishment point by using total cost function per period. In this function, the ordering cost, the holding cost and the penalty cost are taken into account. The results of these two methods are compared with classic method based on real data where the demand distribution is normal, and the lead time distribution is uniform. Thereafter, three cost calculations and their effects on reorder point and replenishment point are analyzed at two different levels.

 

In this study, single item dynamic inventory control model is analyzed. In this model the decision maker counts the inventory periodically, calculates the reorder point and the replenishment point, and decides to replenish the stock according to the inventory position. This calculation is difficult and requires complex mathematical transactions when the demand and lead time are stochastic. For this reason, in this study, the simulation method and genetic algorithms method are used to calculate the reorder point and replenishment point by using total cost function per period. In this function, the ordering cost, the holding cost and the penalty cost are taken into account. The results of these two methods are compared with classic method based on real data where the demand distribution is normal, and the lead time distribution is uniform. Thereafter, three cost calculations and their effects on reorder point and replenishment point are analyzed at two different levels.

Makale detayları

Reorder Point and Replenishment Point of Dynamic Inventory Model under Shortages

Yazarlar: İbrahim Zeki AKYURT

Yayıncı: Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi: Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.69-85

Belge Tipi: Makale

Yayın Tarihi: 3/2016

Belge Dili: İngilizce

Document ID (Org No.): 2000602382

Sıklık: İki Yıllık

eISSN: 2147-7035

pISSN: 2147-6071

Sayı

Yazarlar:

İbrahim Zeki AKYURT

Yayıncı:

Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi:

Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.69-85

Belge Tipi:

Makale

Yayın Tarihi:

3/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000602382

Sıklık:

İki Yıllık

eISSN:

2147-7035

pISSN:

2147-6071