| Author | Ngo Sy Hieu |
| Call Number | AIT Thesis no.ISE-06-09 |
| Subject(s) | Inventory control
|
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Engineering and Technology |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. ISE-06-09 |
| Abstract | In this thesis, we develop a continuous review inventory policy system from the model of Duran et al. (2004) with an additional decision variable k. When the inventory level reaches the reorder point, an order of quantity Q is placed. If the inventory level at time T after the order placed reaches the expediting point, instead of expedite the whole normal order Q, only a sufficient part kQ is expedited to avoid unnecessary costs. Our objective is to find an inventory policy that minimizes the average cost rate. The decision variables considered here are the order quantity Q, the reorder point r, the order expediting point re and the expediting fraction k. Except the variable k is a fraction, the remaining variables are restricted to integers. We also present an algorithm to obtain the optimal value for the decision variables. We compare this model to the model of Duran et al. (2004) with respect to average cost and also conduct sensitivity analysis |
| Year | 2006 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. ISE-06-09 |
| Type | Thesis |
| School | School of Engineering and Technology (SET) |
| Department | Department of Industrial Systems Engineering (DISE) |
| Academic Program/FoS | Industrial Systems Engineering (ISE) |
| Chairperson(s) | Huynh Trung Luong; |
| Examination Committee(s) | Voratas Kachitvichyanukul;Bohez, Erik L.J.; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2006 |