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Make-to-stock production-inventory systems with compound Poisson demands, constant continuous replenishment and lost sales
Descriptive
TypeOfResource
Text
TitleInfo
(ID = T-1)
Title
Make-to-stock production-inventory systems with compound Poisson demands, constant continuous replenishment and lost sales
Identifier
ETD_2787
Identifier
(type = hdl)
http://hdl.rutgers.edu/1782.1/rucore10002600001.ETD.000056113
Language
LanguageTerm
(authority = ISO639-2);
(type = code)
eng
Genre
(authority = marcgt)
theses
Subject
(ID = SBJ-1);
(authority = RUETD)
Topic
Management
Subject
(ID = SBJ-2);
(authority = ETD-LCSH)
Topic
Production management
Subject
(ID = SBJ-3);
(authority = ETD-LCSH)
Topic
Inventory control
Subject
(ID = SBJ-4);
(authority = ETD-LCSH)
Topic
Costs, Industrial
Abstract
(type = abstract)
Supply contracts are designed to minimize inventory costs or to hedge against undesirable events (e.g., shortages) in the face of demand or supply uncertainty. In particular, replenishment terms stipulated by supply contracts need to be optimized with respect to overall costs, profits, service levels, etc. This thesis considers a continuous-review, single-product Make-to-Stock production-inventory system with infinite base-stock level, compound Poisson demands and constant continuous replenishment under the lost-sales policy, in which the inventory is subject to a cost function consisting of holding costs and lost-sale penalties. The main objective is to minimize pertinent inventory cost functions (the expected discounted cost and the time average cost) with respect to the replenishment rate. For the expected discounted cost case, we first derive an integro-differential equation system for the expected discounted cost incurred up until the first loss occurrence, conditioned on an initial inventory level, from which we obtain the Laplace transform for the conditional expectation of the discounted cost over an infinite time horizon. For a system starting from an arbitrary initial inventory level, we obtain a closed form formula for the expected discounted cost via the inversion of its Laplace transform. For the special cases of constant or proportional penalty function and exponentially distributed demand sizes, we exhibit an explicit expression for the conditional expectation of the discounted cost. Finally, we minimize the cost function with respect to the replenishment rate and provide an algorithm to compute the attendant optimal replenishment rate. We further obtain a closed form formula for the time-average cost under a suitable stability condition. For exponentially distributed demand sizes, we exhibit explicit solutions for the optimal replenishment rate for both the expected discounted cost function conditioned on initial empty inventory, as well as the time-average cost function. For each case, numerical studies are conducted to illustrate our results and investigate further properties of the system.
PhysicalDescription
Form
(authority = gmd)
electronic resource
Extent
vii, 99 p. : ill.
InternetMediaType
application/pdf
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text/xml
Note
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Ph.D.
Note
(type = bibliography)
Includes bibliographical references
Note
(type = vita)
Includes vita
Note
(type = statement of responsibility)
by Jummin Shi
Name
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Shi
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(type = given)
Junmin
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1978-
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author
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Junmin Shi
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(type = family)
Melamed
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(type = given)
Benjamin
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chair
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Advisory Committee
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Benjamin Melamed
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(type = personal)
NamePart
(type = family)
Katehakis
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(type = given)
Michael N
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co-chair
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Advisory Committee
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Michael N Katehakis
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(ID = NAME-4);
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NamePart
(type = family)
Zhao
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(type = given)
Yao
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internal member
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Advisory Committee
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Yao Zhao
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(ID = NAME-5);
(type = personal)
NamePart
(type = family)
Lei
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(type = given)
Lei
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internal member
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Advisory Committee
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Lei Lei
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(ID = NAME-6);
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(type = family)
Zhou
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(type = given)
Bin
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outside member
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Advisory Committee
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Bin Zhou
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NamePart
Rutgers University
Role
RoleTerm
(authority = RULIB)
degree grantor
Name
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NamePart
Graduate School - Newark
Role
RoleTerm
(authority = RULIB)
school
OriginInfo
DateCreated
(qualifier = exact)
2010
DateOther
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2010-10
Place
PlaceTerm
(type = code)
xx
RelatedItem
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TitleInfo
Title
Rutgers University Electronic Theses and Dissertations
Identifier
(type = RULIB)
ETD
RelatedItem
(type = host)
TitleInfo
Title
Graduate School - Newark Electronic Theses and Dissertations
Identifier
(type = local)
rucore10002600001
Location
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(displayLabel = Rutgers, The State University of New Jersey)
NjNbRU
Identifier
(type = doi)
doi:10.7282/T39W0F8T
Genre
(authority = ExL-Esploro)
ETD doctoral
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Rights
RightsDeclaration
(AUTHORITY = GS);
(ID = rulibRdec0006)
The author owns the copyright to this work.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
RightsHolder
(ID = PRH-1);
(type = personal)
Name
FamilyName
Shi
GivenName
Junmin
Role
Copyright Holder
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(ID = RE-1);
(AUTHORITY = rulib)
Type
Permission or license
DateTime
2010-07-22 15:16:53
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Name
Junmin Shi
Affiliation
Rutgers University. Graduate School - Newark
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Type
License
Name
Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
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Technical
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ETD
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application/pdf
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application/x-tar
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1167360
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