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In a recent paper, Fisher et al. (2001) present a method tomitigate end-effects in lot sizing by including a valuation term for end-of-horizon inventory in the objective function of the short-horizon model. Computational tests show that the proposed method outperforms the Wagner-Whitin algorithm...
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The most recent optimization algorithm for (s, S) order policies with continuous demand was developed byFedergruen and …. Since the continuous case prohibits enumeration, this algorithm does notapply to continuous order quantity systems. In this … paper an efficient algorithm for continuous order quantity (s, S)policies is developed. A marginal cost approach is used for …
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In equipment-intensive industries such as truck manufacturing, electronics manufacturing, photo copiers,and airliners, service parts are often slow moving items for which, in some cases, the transshipment timeis not negligible. However, this aspect is hardly considered in the existing spare...
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analyze the effect on inventory performance of havingminimum order quantities for the different products in the joint order …
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performance measures, demand processes and order policies, and leads toeasier analysis and implementation, than prior research. We …
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In most multi-item inventory systems, the ordering costs consist of a major cost and a minor cost for each item included. Applying for every individual item a cyclic inventory policy, where the cycle length is a multiple of some basic cycle time, reduces the major ordering costs. An efficient...
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