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An Optimization of ( Q , r ) Inventory Policy Based on Health Care Apparel Products with Compound Poisson Demands
Joint Authors
Pan, An
Hui, Chi-Leung
Ng, Frency
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-09-28
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
Addressing the problems of a health care center which produces tailor-made clothes for specific people, the paper proposes a single product continuous review model and establishes an optimal policy for the center based on ( Q , r ) control policy to minimize expected average cost on an order cycle.
A generic mathematical model to compute cost on real-time inventory level is developed to generate optimal order quantity under stochastic stock variation.
The customer demands are described as compound Poisson process.
Comparisons on cost between optimization method and experience-based decision on Q are made through numerical studies conducted for the inventory system of the center.
American Psychological Association (APA)
Pan, An& Hui, Chi-Leung& Ng, Frency. 2014. An Optimization of ( Q , r ) Inventory Policy Based on Health Care Apparel Products with Compound Poisson Demands. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1046588
Modern Language Association (MLA)
Pan, An…[et al.]. An Optimization of ( Q , r ) Inventory Policy Based on Health Care Apparel Products with Compound Poisson Demands. Mathematical Problems in Engineering No. 2014 (2014), pp.1-9.
https://search.emarefa.net/detail/BIM-1046588
American Medical Association (AMA)
Pan, An& Hui, Chi-Leung& Ng, Frency. An Optimization of ( Q , r ) Inventory Policy Based on Health Care Apparel Products with Compound Poisson Demands. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1046588
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1046588