Evaluation and optimization of installation base-stock policies in supply chains with compound Poisson demand
成果类型：
Article
署名作者：
Zhao, Yao
署名单位：
Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1070.0461
发表日期：
2008
页码：
437-452
关键词：
摘要：
In this paper, we establish an exact framework for a class of supply chains with at most one directed path between every two stages. External demands follow compound Poisson processes, the transit times are stochastic, sequential, and exogenous, and each stage controls its inventory by an installation base-stock policy under continuous review. Unsatisfied demand at each stage is fully backordered. This class of supply chains includes assembly, distribution, tree, and two-level general networks as special cases. We characterize the stockout delay for each unit of demand at each stage of the supply chain by developing an exact and unified approach that applies to various network topologies. We also present tractable approximations and decompositions that facilitate efficient evaluation and optimization (up to the approximations) of the base-stock policies in industry-size problems with a tree structure. We demonstrate the effectiveness of the solution by numerical studies.