Journal article
Optimal investment in setup reduction for finite horizon periodic review inventory system under deterministic time varying demand
Production planning & control, v 7(5), pp 482-491
01 Sep 1996
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This paper examines the impact of setup reduction on a finite horizon, periodic review inventory system, under deterministic time varying demand. A total relevant cost function is developed for such systems. Using this, the impact of setup reduction is examined under various forms of setup reduction cost functions that have been suggested in the literature. The operating characteristics and optimization of the various scenarios are discussed. Our analysis shows that the effects of setup reduction in a periodic review system are similar to those in a reorder point system. Our results are likely to help practitioners who use similar periodic review systems towards decreasing total inventory related costs by investing in setup reduction.
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1 citations in Scopus
Details
- Title
- Optimal investment in setup reduction for finite horizon periodic review inventory system under deterministic time varying demand
- Creators
- VIJAY R. Pyreddy - Drexel UniversitySEUNG LAE Kim - Drexel UniversityAVIJIT Banerjee - Drexel University
- Publication Details
- Production planning & control, v 7(5), pp 482-491
- Publisher
- Taylor & Francis Group
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Decision Sciences (and Management Information Systems)
- Web of Science ID
- WOS:A1996VC57100006
- Scopus ID
- 2-s2.0-0030241102
- Other Identifier
- 991019168766004721
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InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Web of Science research areas
- Engineering, Industrial
- Engineering, Manufacturing
- Operations Research & Management Science