Scientific article
English

Inventory control of raw materials under stochastic and seasonal lead times

Published inInternational journal of production economics, vol. 43, no. 24, p. 5161-5179
Publication date2005
Abstract

Most inventory modelling has assumed stochastic demands and constant lead times. However, here we consider a problem for which the opposite situation holds; namely, there is a known constant demand rate, but lead times are random variables. Moreover, the probability distributions of the lead times change in a seasonal fashion. Also, shortages of raw materials result in lost sales. The goal of this paper is to propose heuristic methods for minimizing the expected costs in such a situation. This study was motivated by a problem of management of raw material at a sawmill.

Keywords
  • Inventory management
  • Seasonality
  • Tabu search
  • Simulation
Citation (ISO format)
SILVER, Edward A., ZUFFEREY, Nicolas. Inventory control of raw materials under stochastic and seasonal lead times. In: International journal of production economics, 2005, vol. 43, n° 24, p. 5161–5179. doi: 10.1080/00207540500219866
Main files (1)
Article (Published version)
accessLevelRestricted
Identifiers
Journal ISSN0925-5273
599views
0downloads

Technical informations

Creation29/01/2013 11:28:00
First validation29/01/2013 11:28:00
Update28/01/2026 15:42:04
Status update28/01/2026 15:42:04
Last indexation28/01/2026 15:47:16
All rights reserved by Archive ouverte UNIGE and the University of GenevaunigeBlack