publication . Article . 2012

Myopic control of stochastic inventories with intermittent updates: continuous versus periodic replenishment

M Shnaiderman;
Restricted
  • Published: 01 Jan 2012 Journal: Journal of the Operational Research Society, volume 63, pages 991-1,005 (issn: 0160-5682, eissn: 1476-9360, Copyright policy)
  • Publisher: Informa UK Limited
Abstract
A manufacturer who is responsible for supplying a retailer with a single product is considered. The retailer sells the product in response to stochastic demand and provides the manufacturer with periodic updates about his inventories. Replenishing the retailer's inventory under two myopic base-stock policies is addressed. These policies, referred to as vendor managed inventory, represent a relatively new approach to allocating responsibility in the replenishment process. Specifically, the manufacturer, who is responsible for the retailer's inventories, can replenish them either continuously at any point in time or periodically, at one point in time for each peri...
Subjects
free text keywords: Marketing, Management Science and Operations Research, Strategy and Management, Management Information Systems, Scheduling (computing), Operations management, Project management, business.industry, business, Economic shortage, Average cost, Vendor-managed inventory, Periodic graph (geometry), Computer science, Purchasing, Information technology, Operations research
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publication . Article . 2012

Myopic control of stochastic inventories with intermittent updates: continuous versus periodic replenishment

M Shnaiderman;