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Supply Chain Joint Inventory Management and Cost Optimization Based on Ant Colony Algorithm and Fuzzy Model

2019 Tehnički Vjesnik  
With the advancement of the marketization process, inventory management has transformed from a single backup protection function to an essential function for enterprises, which helps to survive and develop  ...  Based on the in-depth study of the joint inventory management model, this paper analyzed the current situation of the joint inventory management to optimize the inventory.  ...  Liu [5] studied a similar model, assuming that out-of-stocks could be replenished.  ... 
doi:10.17559/tv-20190805123158 fatcat:geopxtnsx5gd7iihmrmsdmyloy

Policy mechanisms for supply chain coordination

MICHAEL MOSES, SRIDHAR SESHADRI
2000 IIE Transactions  
In our model, the retailer uses a periodic review, base stock policy for ordering the item from the producer's Distribution Center (DC). Excess customer demand is assumed to be lost.  ...  A make-to-order production system supplies to the DC.  ...  We are grateful to Professor Steve Nahmias, Santa Clara University, for his comments on an earlier version of the modi®ed ordering policy given in Section 3, that led to the present formula.  ... 
doi:10.1080/07408170008963896 fatcat:7iev2wsw2bgg5lmy6v3osmjwx4

Impact of replenishment rules with endogenous lead times on supply chain performance

Robert N. Boute
2007 4OR  
performance lies within the policy individuals use to manage the system.  ...  Suppose for instance that the replenishment rule generates an order quantity of 5.8.  ...  A.1 Discrete batch Markovian arrival pattern In many queueing models, the Poisson distribution is commonly used as the arrival pattern, though it is often a poor fit to realistic demand data.  ... 
doi:10.1007/s10288-006-0032-2 fatcat:2qstsagms5gedosf4znlrsktc4

Holding costs under push or pull conditions – The impact of the Anchor Point

Patrick Beullens, Gerrit K. Janssens
2011 European Journal of Operational Research  
We compute the optimal order quantity of new product and the optimal discounted price for old product given the remaining inventory level of old product in order to maximize the total profit.  ...  We first show that under certain conditions, the total profit is a concave function with respect to the order quantity and this enables an efficient algorithm to be developed to compute the optimal order  ...  determine the optimum parameters settings for individual items within an MRP environment.  ... 
doi:10.1016/j.ejor.2011.06.005 fatcat:rpilnlihzfg5zps66qehd4rrxq

NEW GUIDELINES IN PROJECT AND LOGISTIC MANAGEMENT [chapter]

I. O. Lapkina, K. L. Semenchuk, T. M. Shutenko
2020 Development of Scientific Schools of Odessa National Maritime University  
In this case, when re-ordering, a single re-ordering point is determined.  ...  The re-order interval (total) is: 0 * = √ 2 0 /( ⃗ ⃗ * ℎ ⃗⃗⃗⃗ ) (days). (7) The economic order quantity (for product i): * = * √ 2 0 /( ⃗ ⃗ * ℎ ⃗⃗⃗⃗ ) (days).  ... 
doi:10.30525/978-9934-588-86-0.14 fatcat:274es2wnrrggxlsxwihvzezgza

Joint Initial Stocking and Transshipment-Asymptotics and Bounds

David D. Yao, Sean X. Zhou, Weifen Zhuang
2015 Production and operations management  
stocking quantities can be obtained via maximizing a concave function whereas the contribution of transshipment is of order square-root-of T.  ...  Hence, in the context of high-volume, fast-moving products, the initial stocking quantity decision is a much more important contributor to the overall profit.  ...  George Shanthikumar, anonymous Senior Editor and two referees for their comments that have helped improve the manuscript.  ... 
doi:10.1111/poms.12419 fatcat:vtnhqrv7mnefbchkw7lttpky64

Applying inventory classification to a large inventory management system

Benjamin Isaac May, Michael P. Atkinson, Geraldo Ferrer
2017 Journal of Operations and Supply Chain Management  
Our study tests several inventory prioritization techniques and finds that a modified multi-criterion weighted non-linear optimization (WNO) technique is a powerful approach for classifying inventory,  ...  Our objective is to improve resource allocation to focus on items that can lead to high equipment availability.  ...  a res how much demand occurs while ir).  ... 
doi:10.12660/joscmv10n1p68-86 fatcat:gcnz75vjrra4rosi3y27ykdwzi

A systematic literature review about dimensioning safety stock under uncertainties and risks in the procurement process

Júlio Barros, Paulo Cortez, M. Sameiro Carvalho
2021 Operations Research Perspectives  
A systematic literature review about dimensioning safety stock under uncertainties and risks in the procurement process.  ...  Adenso-Diaz (1996) Krupp, 1997 Grubbström et al. (1999) Buzacott (1999) Grubbström (1999) Urban ( 2005 Acknowledgement This work has been supported by FCT -Fundação para a Ciência e Tecnologia within  ...  order to identify optimal order quantity, reorder level and safety stock.  ... 
doi:10.1016/j.orp.2021.100192 fatcat:ag5pndeig5ftdibkpw4qi7hbci

Introducing 2012 fixed employment weights for the Employment Cost Index

E. Raphael Branch, David Zook
2016 Monthly labor review  
The first step in the calculation of the ECI involves aggregating the data for all of the job quotes within a cell in order to obtain an average for each cell.  ...  Further, as samples are replenished, the within-cell weights may shift across jobs, reflecting a change in the employment distribution within cells.  ...  units from each SIC (for a total of four such units) and two occupation quotes sampled from each establishment (for a total of eight units).  ... 
doi:10.21916/mlr.2016.34 fatcat:y4s4cimwrfcxbf2dgi6bfagifu

Stochastic Inventory Control [chapter]

Roberto Rossi
2021 Inventory Analytics  
The order quantity can take any nonnegative real value. There is a proportional holding cost h per unit per time period for carrying items in stock.  ...  The joint replenishment problem with a powersof-two restriction. IIE Transactions, 17 (1) : 25-32, 1985.  ...  quantity for a given initial inventory level.  ... 
doi:10.11647/obp.0252.04 fatcat:cmed3xy23vbhldeobgm32tuut4

IS POOLING LEAD-TIME RISK BY SPLITTING ORDERS SIMULTANEOUSLY WORTHWHILE?

Douglas J. Thomas, John E. Tyworth
2007 Journal of Business Logistics  
This paper tries to explain that paradox by investigating the proposition's value for a broad range of industry conditions, as well as for a high-tech company in an international setting.  ...  The proposition that pooling lead-time risk by splitting orders simultaneously may enable companies to reduce inventories without sacrificing service or significantly increasing order-processing costs  ...  This formula establishes the following weights for holding cost elements: 0.25% for storage + 0.25% for insurance + 0.50% for taxes + 10% for obsolescence + 1.5 multiplied by the prime rate for the cost  ... 
doi:10.1002/j.2158-1592.2007.tb00236.x fatcat:bqaayedyenhp5py6iu2kh2joci

Information Sharing and Supply Chain Coordination [chapter]

Fangruo Chen
2003 Handbooks in Operations Research and Management Science  
So far, unfortunately, the only comparable result for a stochastic system is the one in Chen (1999b) established for a simple two-stage serial system.  ...  power-of-two policies|have been guaranteed to be within 2% of optimality.  ...  (This is a well known formula for the newsvendor model with normal demand.) To derive the order quantity Y t , suppose the retailer's inventory at the beginning of period t is S t¡1 .  ... 
doi:10.1016/s0927-0507(03)11007-9 fatcat:gxjfwbvdczfcbass2pkyb5dlly

Aligning Supply and Demand in Grocery Retailing [article]

Kasper Kiil
2017 The PhD Series of the Faculty of Engineering and Science  
Lastly, we thank Peter Falster for his valuable comments and Chris Martin for assistance in editing this paper.  ...  Lastly, we would like to thank Chris Martin for assistance in editing this paper. 7.  ...  The forecast gives a joint input for all the functions and can be adjusted by individual stores. In addition, suppliers can have access to the forecasts.  ... 
doi:10.5278/vbn.phd.eng.00018 fatcat:szwcefl3cnajtdmdh4qhfxkph4

The War Production Board's Statistical Reporting Experience

David Novick, George A. Steiner
1948 Journal of the American Statistical Association  
Deliveries customarily were made from stock, and replenishment of scarce materials for production of additional stock could not be made by extensions of preference cer- tificates for the small amounts  ...  Authoriza- tions for all detailed programs had to remain within total quantities received.  ... 
doi:10.1080/01621459.1948.10483258 fatcat:45ha6o2hafam7bqzr7xgytlbi4

Single-Manufacturer Multi-Retailer Supply Chain Models with Discrete Stochastic Demand

Yaqing Xu, Jiang Zhang, Zihao Chen, Yihua Wei
2021 Sustainability  
Both Make-To-Order and Make-To-Stock scenarios are considered. For each scenario, the corresponding Stackelberg game model is constructed respectively.  ...  Each retailer faces a random discrete demand, and the manufacturer utilizes different wholesale prices to influence each retailer's ordering decision.  ...  Data Availability Statement: All relevant data are within the paper. Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/su13158271 fatcat:p5p5tnxxkze43glir7eacwapku
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