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2006, Volume 2, Issue 1: 19-42. Doi: 10.3934/jimo.2006.2.19
This issue Previous Article Generalized support set invariancy sensitivity analysis in linear optimization Next Article On finite-dimensional generalized variational inequalities

Optimality and nonoptimality of the base-stock policy in inventory problems with multiple delivery modes

  • 1.

    School of Management, The University of Texas at Dallas, Richardson, TX, 75083-0688

  • 2.

    Dept. of Systems Engineering and Engineering Management, The Chinese University of Hong Kong, Shatin, N.T. Hong Kong

  • 3.

    Institute of Applied Mathematics, Academy of Mathematics and Systems Science, Academia Sinica, Beijing, 100080

Received:  April 30, 2005
Revised:  September 30, 2005
Published:  December 2005
Abstract Related Papers Cited by
    Abstract
  • We present a periodic review inventory model with multiple delivery modes. We generalize the notion of the base-stock policy for inventory systems with multiple delivery modes. While base-stock policies are optimal for one or two consecutive delivery modes, it is not so otherwise. For multiple consecutive delivery modes, we show that only the fastest two modes have optimal base stocks, and provide simple counterexamples to show that the remaining ones do not in general. We investigate why the base-stock policy is not optimal through detailed analyses of two numerical examples.
    Mathematics Subject Classification: 90B30, 90B50.

    Citation:
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