Date/Time: Wednesday 09:45-11:15
Room: Regency C
Chair: Prakash L. Abad
Chair Address: McMaster Univer., 1280 Main St. W, Hamilton, Ontario, L8S 4M4 , Canada
Determination of the Economic Production Quantity Under Conditions of Perishability & Partial Backordering Prakash L. Abad --- McMaster Univer., 1280 Main St. W, Hamilton, Ontario, L8S 4M4 , Canada (email@example.com)
- We consider a product having a general deteriorating function and a¨ finite production rate. We develop an exact procedure for¨ determining the EPQ for this general case. We then extend the basic¨ model to include the case of partial backordering.
A Stochastic Inventory Model with Return Policies Dirk M. Beyer, Jose Beltran, Dmitry Krass, Sridhar Ramaswamy --- Univ. of Toronto, Fac. of Mgmt., 105 St. George St., Toronto, Ontario, M5S 3E6 , Canada (firstname.lastname@example.org)
- Return policies, i.e., the right of the customer to return a product¨ for refund, are very common in the North American retail sector. We¨ investigate the structure of optimal policies for a 1-product¨ inventory model with returns depending on the previous period's¨ sales and partial backlog. In particular, the optimality of¨ (s-S)-strategies with respect to inventory after returns is proved.
Inventory Management at a Service Facility: The Infinite Service Capacity Case Eungab Kim, Oded Berman --- Univ. of Toronto, 105 St. George St., Fac. of Mgmt., Toronto, Ontario, M5S 2H8 , Canada (email@example.com)
- We consider a facility that provides service to customers using¨ items of inventory. Customers arrive at the facility as a Poisson¨ process and the service provided is exponentially distributed. An¨ optimal policy is characterized and heuristics presented.
An (s,Q) Inventory System with Staggered Deliveries Grace Chong, S. H. Sim --- Bank of Montreal, MS Group, EBS, 3300 Bloor St. W, 6th Fl., Toronto, Ontario, M8X 2X3 , Canada
- We discuss an (s,Q) inventory system with staggered deliveries.¨ Mean-value analysis is used to derive an analytical formula for the¨ average inventory level. A Markov model is formulated and solved¨ recursively to obtain system performance measures. A cost¨ minimization model is then formulated and solved.
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