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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/14509
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| Title: | OPTIMAL SCHEDULING OF PURCHASING ORDERS FOR LARGE PROJECTS |
| Authors: | Ronen, Boaz
Trietsch, Dan |
| Issue Date: | Jul-1986 |
| Publisher: | Stern School of Business, New York University |
| Series/Report no.: | IS-86-064 |
| Abstract: | The completion of a typical project hinges upon receiving all the
purchased components by the time they are scheduled to be used. Some of
these components may have long stochastic lead times, so the project
manager is tempted to order them ASAP, to avoid the (usual) high
penalties associated with delays. (The penalties may be tangible or
intangible, but we assume that they can be measured by monetary units.)
This in turn may bring about excessive inventory holding costs. Clearly
an optimization is called for to minimize the total expected cost of the
project. This is achieved by timing the orders optimally, for the one
component case as well as for the n component general case. |
| URI: | http://hdl.handle.net/2451/14509 |
| Appears in Collections: | IOMS: Information Systems Working Papers
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