A technical note on periodic inventory model with controllable lead time under service level constraint

Authors

  • Chandra K Jaggi Department of Operational Research, Faculty of Mathematical Sciences, New Academic Block University of Delhi, Delhi 110007, India
  • Haider Ali Department of Operational Research, Faculty of Mathematical Sciences, New Academic Block University of Delhi, Delhi 110007, India
  • Neetu Arneja Hans Raj College Department of Computer Science University of Delhi Delhi-110007

DOI:

https://doi.org/10.1285/i20705948v9n1p83

Keywords:

Periodic inventory, Lead-Time, Shortages, Service level

Abstract

In this article, a periodic review inventory model having variable lead time, along with the service level constraint has been discussed. The demand during the protection interval is assumed to follow the Normal distribution. A wide range of expected shortages during the protection interval has been considered, with their corresponding values of safety factor. Keeping this in mind, we have returned to both Ouyang and Chuang (2000) and Liang et al. (2008) model. Further, it has been observed that both the models do not succeed in providing the solution for service level other than 98% and 99%.  In the light of this fact, we revisit the solution procedure of both the papers and are able to obtain the result for any level of service. Detail comparative analysis has also been presented.

Author Biography

Chandra K Jaggi, Department of Operational Research, Faculty of Mathematical Sciences, New Academic Block University of Delhi, Delhi 110007, India

Chandra K. Jaggi, Professor and Head, Department of Operational Research, University of Delhi, India. He is Fellow Member of International Science Congress Association since 2012 and in 2009 was awarded Certificate for his Significant Contributions in Operation Management by The Society of Reliability Engineering, Quality and Operations Management, New Delhi. A recipient of Shiksha Rattan Puraskar (for Meritorious Services, Outstanding Performance and Remarkable Role) in 2007 by India International Friendship Society. He is Life member of Operational Research Society of India, Indian Science Congress Association, Fellow Member of International Science Congress Association, Computer Society of India, The Society of Mathematical Sciences, University of Delhi, India, Society for Reliability Engineering, Quality and Operations Management, Indian Society for Probability and Statistics. He is a reviewer of more than 20 International/National journals. His research interest lies in the field of Supply Chain and Inventory Management.  He has published more than 88 papers in various international/national journals. He has guided 7 Ph. D. and 20 M. Phil. in Operations Research. He is Editor-in-Chief of International Journal of Inventory Control and Management and Associate Editor of International Journal of System Assurance Engineering and Management, Springer, Co-Editor / Reviewer-In-Charge of The Gstf Journal of Mathematics, Statistics And Operations Research and on the Editorial Board of the International Journal of Services Operations and Informatics, American Journal of Operational Research, International Journal of Enterprise Computing And Business Systems, Journal of Applied Sciences Research, Australian Journal of Basic and Applied Sciences. He has traveled to Canada, Philippines, Macau, Iran and different parts of India delivered Key Note Address, invited talks.

References

References

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Published

26-04-2016

Issue

Vol. 9 No. 1 (2016): Electronic Journal of Applied Statistical Analysis

Section

Original Paper

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