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Abstract
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Article Information:
A Cost Model of Partial Postponement Strategy of the Single-Period Product under Stochastic Demand
Yanhong Qin
Corresponding Author: Yanhong Qin
Submitted: December 02, 2011
Accepted: January 21, 2012
Published: June 01, 2012 |
Abstract:
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The target of our study is to set a new cost model to solve the partial postponement problem by
adding penalty cost parameter of shortage under stochastic demand. By doing this, we hope the new model can
be better applied to real conditions. Postponement is an important strategy to achieve mass customization and
it has been adopted by many companies to improve production operation, inventory and logistics management
and supply chain operation, but the postponed activity will cause additional costs at the same time. There have
been many literatures trading off between the relative cost and the postponement benefits of product
manufacture, and our paper is to solve the similar problem.
Key words: Inventory, mass customization, partial postponement, , , ,
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Cite this Reference:
Yanhong Qin, . A Cost Model of Partial Postponement Strategy of the Single-Period Product under Stochastic Demand. Research Journal of Applied Sciences, Engineering and Technology, (11): 1494-1499.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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