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Supply Chain Joint Inventory Management and Cost Optimization Based on Ant Colony Algorithm and Fuzzy Model
2019
Tehnički Vjesnik
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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
2000
IIE Transactions
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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
2007
4OR
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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
2011
European Journal of Operational Research
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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]
2020
Development of Scientific Schools of Odessa National Maritime University
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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
2015
Production and operations management
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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
2017
Journal of Operations and Supply Chain Management
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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
2021
Operations Research Perspectives
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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
2016
Monthly labor review
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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]
2021
Inventory Analytics
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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?
2007
Journal of Business Logistics
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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]
2003
Handbooks in Operations Research and Management Science
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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]
2017
The PhD Series of the Faculty of Engineering and Science
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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
1948
Journal of the American Statistical Association
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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
2021
Sustainability
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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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