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Control Number314385
Date and Time of Latest Transaction20150706093040.AM
General Information150706s |||||||||b ||00|||
Cataloging SourceSTII-DOST
Local Call NumberScienceDirect
Main Entry - Personal NameKlosterhalfen, Steffen
 Minner, Stefan
 Kiesmuller, Gudrun
Title StatementA comparison of the constant-order and dual-index policy for dual sourcing by Steffen Klosterhalfen, Gudrun Kiesmuller and Stefan Minner
Physical Descriptionpages 302-311 computer file; text; 218kb
Summary, Etc.We analyze a single-product, periodic-review, stochastic demand inventory model with backorders and two supply options, a regular and a more expensive expedited one, with deterministic, offsetting lead times. Since the optimal policy for such a problem is generally unknown, several simpler policies have been proposed in the literature, e.g., the single-index (SIP), dual-index (DIP), or constant-order policy (COP). In previous research the DIP has been found to perform closely to the optimal policy in specific numerical settings. The COP, on the other hand, is very appealing from a practical point of view. We explore the relative cost performance of these two policies in a numerical study to gain insights into appropriate policy choices. We find that in settings, where dual sourcing is most valuable, the simpler COP delivers satisfactory results, sometimes even better ones than the DIP, and therefore represents a legitimate policy alternative for practical situations
Subject Added Entry - Topical TermSocial sciences
 Comparative analysis
 Multiple suppliers
 Constant-Order Policy (COP)
LocationDOST STII ScienceDirect NONPRINTS NP 14-16632 1 14-16632 Online/Download 2012-01-19
  
     
 
Physical Location
Department of Science and Technology
Science and Technology Information InstituteScienceDirect
  
     
 
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