Models for Optimisation of Delivery Timing and Volumes under Uncertainty Encompassing Penalty and Customer Attrition Risks
Oleg Kosorukov1, Igor Ilin2, Olga Sviridova3
1Oleg Kosorukov, Moscow State University named after M.V. Lomonosov, Moscow, Russia.
2Igor Ilin, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia.
3Olga Sviridova,Financial University under the Government of the Russian Federation, Moscow, Russia.

Manuscript received on November 11, 2019. | Revised Manuscript received on November 20 2019. | Manuscript published on 30 November, 2019. | PP: 11539-11545 | Volume-8 Issue-4, November 2019. | Retrieval Number: D4407118419/2019©BEIESP | DOI: 10.35940/ijrte.D4407.118419

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Abstract: The paper proposes a model for inventory management and specifically for determining the optimum volume and timing of deliveries, encompassing the uncertainty of demand. The criteria of efficiency are the minimisation of integral costs and maximisation of profit with due regard for the risks of penalties and customer attrition. The triangular distribution is a reference for the distribution pattern of the stochastic demand and delivery timing fluctuations as it is one of the most common choices in case of insufficient statistical data.
Keywords: Inventory Management, Cost Minimisation, Delivery Timing, Delivery Volume, Uncertainty Of Demand, Triangular Distribution.
Scope of the Article: Addressing & Location Management.