Optimal ordering policies with convertible lead times

@article{Gallego2007OptimalOP,
  title={Optimal ordering policies with convertible lead times},
  author={Guillermo Gallego and Yue Jin and Ana Muriel and Ge Zhang and V. Taylan Yildiz},
  journal={European Journal of Operational Research},
  year={2007},
  volume={176},
  pages={892-910}
}
A firm receives orders that will be required at an uncertain time given by an Erlang distribution, and over time observes the associated independent exponential events. The firm, in turn, places orders at a linear cost from a supplier with fixed lead time l and has the option of converting (expediting) each order, at a cost, over a certain time interval after the order is originally placed. A converted order arrives le < l units of time after it is converted. We show that a threshold policy is… CONTINUE READING

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