DocumentCode
1979219
Title
Optimal Inventory Policy For Products With Warranty Agreements
Author
Yeo, Wee Meng ; Yuan, Xue-Ming
Author_Institution
Singapore Inst. of Manuf. Technol., Singapore
fYear
2007
fDate
4-7 June 2007
Firstpage
1838
Lastpage
1843
Abstract
This working paper discusses the optimal policy for a periodic review inventory system with two-component products under non-renewable warranty agreement. Customer demands for products are independent and identically distributed with a common general distribution. Components are subjected to failure with exponential distributions once products are sold. The objective of this work is to decide the optimal inventory level of the product and components so that the total operational cost is minimized.
Keywords
contracts; exponential distribution; inventory management; exponential distribution; nonrenewable warranty agreement; optimal inventory policy; Cost function; Drives; Dynamic programming; Exponential distribution; Law; Paper technology; Pulp manufacturing; Random variables; Stochastic processes; Warranties; Dynamic Programming; Inventory; Stochastic Demand; Warranty;
fLanguage
English
Publisher
ieee
Conference_Titel
Industrial Electronics, 2007. ISIE 2007. IEEE International Symposium on
Conference_Location
Vigo
Print_ISBN
978-1-4244-0754-5
Electronic_ISBN
978-1-4244-0755-2
Type
conf
DOI
10.1109/ISIE.2007.4374885
Filename
4374885
Link To Document