Exact evaluation of (R,Q)-policies for two-level inventory systems with Poisson demand |
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| Institution: | 1. School of Mechanical Engineering, Northwestern Polytechnical University, Xi''an 710072, PR China;2. Key Laboratory of Industrial Engineering and Intelligent Manufacturing, Ministry of Industry and Information Technology, Xi''an 710072, PR China;1. Department of Economics, Faculty of Economic & Administrative Sciences, Anadolu University, Eskişehir 26470, Turkey;2. @WalmartLabs, San Bruno, CA 94066, USA;3. Department of Industrial Engineering, Bilkent University, Bilkent, Ankara 06800, Turkey |
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| Abstract: | In this paper we show how to exactly evaluate holding and shortage costs for a two-level inventory system with one warehouse and N different retailers. Lead-times (transportation times) are constant, and the retailers face different Poisson demand processes. All facilities apply continuous review (R, Q)-policies. We express the policy costs as a weighted mean of costs for one-for-one ordering policies. |
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