In this paper the authors consider the two-warehouse inventory problem, one of the most important problems in inventory management. In the formulation of models related to this problem, it is usually assumed that a manager owns a warehouse of limited capacity, denoted by OW. Quantities exceeding the OW capacity must be stored in a rented warehouse, denoted by RW. In this paper the authors study a two-warehouse inventory model for deteriorating items over a finite planning horizon and propose a modified first-in-first-out (FIFO), denoted MFIFO, dispatching policy. They first formulate a new inventory model with a constant demand rate based on this MFIFO dispatching policy. For the case in which shortage are not allowed, they compare this MFIFO inventory model with the LIFO (last-in-first-out), MLIFO and FIFO inventory models. They also analyze the optimal properties of the optimal solution for each model.
Recensione dell'articolo: (Xu, Xianhao; Bai, Qingguo; Chen, Mingyuan - " A comparison of different dispatching policies in two-warehouse inventory systems for deteriorating items over a finite time horizon." - Appl. Math. Model. 41 (2017), 359–374)
Leonardo Pasini
2017-01-01
Abstract
In this paper the authors consider the two-warehouse inventory problem, one of the most important problems in inventory management. In the formulation of models related to this problem, it is usually assumed that a manager owns a warehouse of limited capacity, denoted by OW. Quantities exceeding the OW capacity must be stored in a rented warehouse, denoted by RW. In this paper the authors study a two-warehouse inventory model for deteriorating items over a finite planning horizon and propose a modified first-in-first-out (FIFO), denoted MFIFO, dispatching policy. They first formulate a new inventory model with a constant demand rate based on this MFIFO dispatching policy. For the case in which shortage are not allowed, they compare this MFIFO inventory model with the LIFO (last-in-first-out), MLIFO and FIFO inventory models. They also analyze the optimal properties of the optimal solution for each model.File | Dimensione | Formato | |
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