Models for Optimisation of Delivery Timing and Volumes under Uncertainty Encompassing Penalty and Customer Attrition Risks Article Swipe
Related Concepts
Attrition
Computer science
Econometrics
Inventory management
Probability distribution
Operations research
Operations management
Economics
Statistics
Mathematics
Dentistry
Medicine
Oleg Kosorukov
,
Igor Ilin
,
Olga Sviridova
·
YOU?
·
· 2019
· Open Access
·
· DOI: https://doi.org/10.35940/ijrte.d4407.118419
· OA: W4244481434
YOU?
·
· 2019
· Open Access
·
· DOI: https://doi.org/10.35940/ijrte.d4407.118419
· OA: W4244481434
The paper proposes a model for inventory management and specifically for determining the optimum volume and timing of deliveries, encompassing the uncertainty of demand. The criteria of efficiency are the minimisation of integral costs and maximisation of profit with due regard for the risks of penalties and customer attrition. The triangular distribution is a reference for the distribution pattern of the stochastic demand and delivery timing fluctuations as it is one of the most common choices in case of insufficient statistical data.
Related Topics
Finding more related topics…