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Article: Decision models for single-period products with two ordering opportunities
Title | Decision models for single-period products with two ordering opportunities |
---|---|
Authors | |
Keywords | Fashion Goods Newsboy Problem Reordering Single-Period Inventory |
Issue Date | 1998 |
Publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe |
Citation | International Journal Of Production Economics, 1998, v. 55 n. 1, p. 57-70 How to Cite? |
Abstract | This paper considers the very common situation in which a single-period "newsboy" type product may be ordered twice during a period. The inventory decision model is shown to be substantially more complicated than the simple one-order-per-period newsboy problem, but the model can nevertheless be easily solved with today's computers and software. The model's solution tells an operations manager how much to order/produce initially, when to place a second order (if at all) and for what quantity. Less quantitative heuristic decision rules are also identified. The last part of the paper extends our basic model to consider a non-negligible set-up cost for the second order; it serves as an illustration of how one might want to extend our basic two-order model to handle a large number of different combinations of additional factors such as the second-order's delivery delay time and price differential. © 1998 Elsevier Science B.V. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/177872 |
ISSN | 2023 Impact Factor: 9.8 2023 SCImago Journal Rankings: 3.074 |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lau, AHL | en_US |
dc.contributor.author | Lau, HS | en_US |
dc.date.accessioned | 2012-12-19T09:40:39Z | - |
dc.date.available | 2012-12-19T09:40:39Z | - |
dc.date.issued | 1998 | en_US |
dc.identifier.citation | International Journal Of Production Economics, 1998, v. 55 n. 1, p. 57-70 | en_US |
dc.identifier.issn | 0925-5273 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177872 | - |
dc.description.abstract | This paper considers the very common situation in which a single-period "newsboy" type product may be ordered twice during a period. The inventory decision model is shown to be substantially more complicated than the simple one-order-per-period newsboy problem, but the model can nevertheless be easily solved with today's computers and software. The model's solution tells an operations manager how much to order/produce initially, when to place a second order (if at all) and for what quantity. Less quantitative heuristic decision rules are also identified. The last part of the paper extends our basic model to consider a non-negligible set-up cost for the second order; it serves as an illustration of how one might want to extend our basic two-order model to handle a large number of different combinations of additional factors such as the second-order's delivery delay time and price differential. © 1998 Elsevier Science B.V. All rights reserved. | en_US |
dc.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe | en_US |
dc.relation.ispartof | International Journal of Production Economics | en_US |
dc.subject | Fashion Goods | en_US |
dc.subject | Newsboy Problem | en_US |
dc.subject | Reordering | en_US |
dc.subject | Single-Period Inventory | en_US |
dc.title | Decision models for single-period products with two ordering opportunities | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, AHL: ahlau@business.hku.hk | en_US |
dc.identifier.authority | Lau, AHL=rp01072 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/S0925-5273(98)00040-1 | - |
dc.identifier.scopus | eid_2-s2.0-0032496543 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0032496543&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 55 | en_US |
dc.identifier.issue | 1 | en_US |
dc.identifier.spage | 57 | en_US |
dc.identifier.epage | 70 | en_US |
dc.publisher.place | Netherlands | en_US |
dc.identifier.scopusauthorid | Lau, AHL=7202626080 | en_US |
dc.identifier.scopusauthorid | Lau, HS=7201497264 | en_US |
dc.identifier.issnl | 0925-5273 | - |