Ghafour, Karzan Mahdi and Ramli, Razamin and Zabidi, Nerda Zura (2016) Developing a continuous review (R, Q) policy when the demand during lead-time distributed generalized gamma four-parameters. International Journal of Applied Mathematics and Statistics™ (IJAMAS), 54 (2). ISSN 0973-7545

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Abstract

This paper focuses on a multi-echelon inventory system under continuous review (R, Q) policy with generalized Gamma four-parameter distribution of demand during lead-time which consist a distribution center and three warehouses that satisfy unlimited retailers. In this paper we were able to reach a new formulation of Economic Order Quantity Q through a mathematical derivation by integration of the probability density function of the demand during lead-time in the inventory total cost function. In addition, the numerical results show the best exploit of the daily production which represents the optimal values of the economic order quantities Q at each echelon and the optimal reorder point R at each installation and echelon. However, this paper is an extend of our previous work which we proved that the demand during lead-time distributed generalized Gamma four-parameters by a simulation model.

Item Type:	Article
Uncontrolled Keywords:	Continuous review (R, Q) policy, EOQ, Generalized Gamma four-parameter distribution
Subjects:	Q Science > QA Mathematics
Divisions:	School of Quantitative Sciences
Depositing User:	Prof. Dr. Razamin Ramli
Date Deposited:	07 Jan 2016 05:10
Last Modified:	12 Apr 2016 01:33
URI:	https://repo.uum.edu.my/id/eprint/16860

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