Inventory control with limited capacity and advance demand information
成果类型：
Article
署名作者：
Özer, Ö; Wei, W
署名单位：
Stanford University
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1040.0126
发表日期：
2004
页码：
988-1000
关键词：
摘要：
Manufacturers make production decisions and carry inventory to satisfy uncertain demand. When holding and shortage costs are high, carrying inventory could be even more expensive for a capacitated production system. Recent developments in information technology and sales strategies enabled firms to acquire, collect, or induce advance demand information. We address a periodic-review, stochastic, capacitated, finite and infinite horizon production system faced by a manufacturer who has the ability to obtain advance demand information. We establish optimal policies and characterize their behavior with respect to capacity, fixed costs, advance demand information, and the planning horizon. With a numerical study, we quantify the value of advance demand information and additional capacity for specific problem instances. We illustrate how advance demand information can be a substitute for capacity and inventory.