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dc.contributor.authorTaleizadeh, AA
dc.contributor.authorTafakkori, K
dc.contributor.authorThaichon, P
dc.date.accessioned2020-11-24T06:49:18Z
dc.date.available2020-11-24T06:49:18Z
dc.date.issued2021
dc.identifier.issn0969-6989
dc.identifier.doi10.1016/j.jretconser.2020.102291
dc.identifier.urihttp://hdl.handle.net/10072/399621
dc.description.abstractThis paper examines supply-side disruptions using an inventory management framework to gain insights into the economic performance of buyers who use two conventional costing strategies – end-of-cycle and continuous. The proposed model assumes that a single supplier faces full disruptions with a probability, and therefore, fails to procure all the items ordered. Accordingly, the buyer experiences unmet demand, which is assumed to be partially backordered. To make proper replenishment decisions, two base stock (S,T) periodic review optimization models are developed. The objective functions minimize the expected long-run total costs (i.e., ordering, holding, and shortage). After proving their convexity and obtaining the optimal decisions, computational experiments were carried out to investigate the impacts of the change in parameters. The results highlight the importance of selecting a suitable ratio for backorders during supply disruptions, as it leads to lower costs and reduces the inventory obsolescence and overstocking risks. Moreover, the managerial insights derived from this study aid retailers to make better replenishment decisions (in terms of level and frequency) and to be more resilient in times of disruptions. Retailers can benefit from the provided solution algorithm as a computational application.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofpagefrom102291
dc.relation.ispartofjournalJournal of Retailing and Consumer Services
dc.relation.ispartofvolume58
dc.subject.fieldofresearchMarketing
dc.subject.fieldofresearchTourism
dc.subject.fieldofresearchCommercial services
dc.subject.fieldofresearchStrategy, management and organisational behaviour
dc.subject.fieldofresearchTransportation, logistics and supply chains
dc.subject.fieldofresearchcode3506
dc.subject.fieldofresearchcode3508
dc.subject.fieldofresearchcode3504
dc.subject.fieldofresearchcode3507
dc.subject.fieldofresearchcode3509
dc.titleResilience toward supply disruptions: A stochastic inventory control model with partial backordering under the base stock policy
dc.typeJournal article
dc.type.descriptionC1 - Articles
dcterms.bibliographicCitationTaleizadeh, AA; Tafakkori, K; Thaichon, P, Resilience toward supply disruptions: A stochastic inventory control model with partial backordering under the base stock policy, Journal of Retailing and Consumer Services, 2021, 58, pp. 102291
dc.date.updated2020-11-24T06:45:43Z
gro.hasfulltextNo Full Text
gro.griffith.authorThaichon, Park


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