|Select the best algorithm of joint replenishment inventory control for DSL
|Inventory control -- Mathematical models
Hong Kong Polytechnic University -- Dissertations
Department of Applied Mathematics
|xi, 84 leaves : ill. ; 31 cm
|In this project, we consider inventory control models where a number of items are replenished jointly. We study joint replenishment inventory models under deterministic and stochastic demand conditions. For the deterministic joint replenishment inventory system, the total cost function includes fixed cost of a replenishment, item dependent replenishment cost and inventory carrying cost for individual items. For the stochastic joint replenishment inventory system, we study the coordinated control policy with control parameters (S, c, s) in zero lead time. The total cost per month and percentage saving are used to compare the results between the different algorithms, and the ultimate aim is to find the best algorithm for DSL. In real life situation, joint replenishment inventory models are highly applicated compared with single item replenishment models. One very important factor which makes the co-ordination of replenishments cost effective is the joint set-up cost structure. Inventory systems with this cost structure have received considerable attention in the management science and production operations management literature in the past two decades.
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