Scholars@Duke

Inventory control with information about supply conditions

Publication ,  Journal Article
Song, JS; Zipkin, PH
Published in: Management Science
January 1, 1996
Published version (DOI)

This paper presents an inventory-control model which includes a Markovian model of the supply system. As that system evolves over time, so do the replenishment leadtimes. The optimal policy has the same structure as in standard models, but its parameters change dynamically to reflect current supply conditions. In this setting, contrary to conventional wisdom, a longer leadtime does not necessarily imply more inventory. The leadtime is important, but so is a concept we call order coverage.

Duke Scholars

Jing-Sheng Song
Author Jing-Sheng Song Fuqua School of Business
Paul H. Zipkin
Author Paul H. Zipkin Fuqua School of Business

Published In

Management Science

DOI

10.1287/mnsc.42.10.1409

ISSN

0025-1909

Publication Date

January 1, 1996

Volume

42

Issue

10

Start / End Page

1409 / 1419

Related Subject Headings

  • Operations Research
  • 46 Information and computing sciences
  • 38 Economics
  • 35 Commerce, management, tourism and services
  • 15 Commerce, Management, Tourism and Services
  • 08 Information and Computing Sciences
 

Citation

APA
Chicago
ICMJE
MLA
NLM
Song, J. S., & Zipkin, P. H. (1996). Inventory control with information about supply conditions. Management Science, 42(10), 1409–1419. https://doi.org/10.1287/mnsc.42.10.1409
Song, J. S., and P. H. Zipkin. “Inventory control with information about supply conditions.” Management Science 42, no. 10 (January 1, 1996): 1409–19. https://doi.org/10.1287/mnsc.42.10.1409.
Song JS, Zipkin PH. Inventory control with information about supply conditions. Management Science. 1996 Jan 1;42(10):1409–19.
Song, J. S., and P. H. Zipkin. “Inventory control with information about supply conditions.” Management Science, vol. 42, no. 10, Jan. 1996, pp. 1409–19. Scopus, doi:10.1287/mnsc.42.10.1409.
Song JS, Zipkin PH. Inventory control with information about supply conditions. Management Science. 1996 Jan 1;42(10):1409–1419.

Published In

Management Science

DOI

10.1287/mnsc.42.10.1409

ISSN

0025-1909

Publication Date

January 1, 1996

Volume

42

Issue

10

Start / End Page

1409 / 1419

Related Subject Headings

  • Operations Research
  • 46 Information and computing sciences
  • 38 Economics
  • 35 Commerce, management, tourism and services
  • 15 Commerce, Management, Tourism and Services
  • 08 Information and Computing Sciences