Multi Echelon Inventory Impact Of Varied Ordering Policies On Realized Service Levels
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Multi Echelon Inventory Impact Of Varied Ordering Policies On Realized Service Levels
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Author : Stephen P. Brady
language : en
Publisher:
Release Date : 1999-08-01
Multi Echelon Inventory Impact Of Varied Ordering Policies On Realized Service Levels written by Stephen P. Brady and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-08-01 with categories.
Wholesalers face an environment where different retail establishments may follow different ordering policies. Typically, wholesalers do not consider the individual retail establishment's ordering policies when setting and computing their service levels. This research looked at whether there was a negative impact on retailers due to interactions between ordering policies. Current research has focused on serial relationships in multi-echelon inventory problems. This research extends existing research by assessing the impacts of differing ordering policies upon service level performance for each retail level establishment in a parallel multi-echelon inventory environment, for slow-demand items. Conducted through the use of simulation, one model was developed representing three ordering policies: Periodic Review, Continuous Review, and an Instantaneous Reorder Policy. Each policy was isolated, and the models run to get a baseline of performance. Finally, the complete model was run, and comparisons were made between the performance of the policies alone, and interacting.
Dissertation Abstracts International
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Author :
language : en
Publisher:
Release Date : 2008
Dissertation Abstracts International written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Dissertations, Academic categories.
Optimization Of R Q Policies For Multi Echelon Inventory Systems With Guaranteed Service
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Author : Peng Li
language : en
Publisher:
Release Date : 2013
Optimization Of R Q Policies For Multi Echelon Inventory Systems With Guaranteed Service written by Peng Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Inventory Optimization
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Author : Nicolas Vandeput
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2020-08-24
Inventory Optimization written by Nicolas Vandeput and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-24 with Business & Economics categories.
In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple—yet powerful—framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter.
Inventory Optimization In A Retail Multi Echelon Environment
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Author : Rintiya Arkaresvimun
language : en
Publisher:
Release Date : 2008
Inventory Optimization In A Retail Multi Echelon Environment written by Rintiya Arkaresvimun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The objective of the study is to find an optimal inventory distribution in a retail three-echelon environment, consisting of a supplier, a DC, and stores. An inventory model is built by replicating the echelons' periodic, order-up-to-level policies with all echelons' transactions integrated. Network carrying cost is set as an objective function, while the store target service level and the store's minimum order-up-to-levels are set as constraints. A heuristic approach, that combines the optimization and simulation methods, is used to find the optimal inventory distribution. The results show that the optimal network carrying cost can be achieved by having low inventory and low service level at the DC. In addition, the impact of the echelons' deviations from the optimal policies as well as the impact of the upstream echelon's service disruptions on the other echelons confirms the interrelation between the echelons in the network. The analyses also illustrate that high target service level can be accomplished by keeping high inventory at the stores and the DC.
A Study Of Multi Echelon Inventory Systems With Sochastic Capacity And Intermediate Product Demand
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Author : Suman Nirajan
language : en
Publisher:
Release Date : 2008
A Study Of Multi Echelon Inventory Systems With Sochastic Capacity And Intermediate Product Demand written by Suman Nirajan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business logistics categories.
The research in this dissertation involves the study of several multi-echelon inventory systems with stochastic capacity and intermediate product demand. Specifically we analyze the behavior of the system which consists of several intermediate product demands. The analysis is primarily three fold i) developed update (relational) equations for all the multi-echelon inventory systems under several inventory allocation policies, ii) develop two simulation optimization approaches 1) OptQuest framework, and 2) IPA (Infinitesimal Perturbation Analysis) framework, used to minimize the total cost of the inventory systems that satisfy the desired customer service level, iii) obtain numerical results for all the multi-echelon inventory systems under several scenarios and instances, and an extensive analysis and implications of the results. The research done in this dissertation differ from earlier works, since it considers a complex (combination of serial and assembly systems) multi-period multi-echelon inventory system with several sources of demand (specifically intermediate product demands). We obtain the best found base-stock levels for each node in the system that satisfies the required customer service level. A SIO (Simulation based Inventory Optimization) approach is used to obtain the best found base-stock level for the system under several inventory allocation policies. We consider a system which is closer to the actual world and can be used to solve contemporary issues like, 1) manufacturing firm that produces finished products as well as spare parts, 2) manufacturer-warehouse-distribution center-retail outlets etc. I am not aware of any work that studies the impact of inventory allocation polices for multi-period in a multi-echelon inventory system, and obtains best found base stock level for each node using an IPA framework. Moreover the best found base-stock level for each node is obtained under realistic conditions like stochastic demand, stochastic capacity, and lead time.
An Examination Of Safety Stock Policies In Multi Echeloned Distribution Systems
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Author : Robert Lorin Cook
language : en
Publisher:
Release Date : 1980
An Examination Of Safety Stock Policies In Multi Echeloned Distribution Systems written by Robert Lorin Cook and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Physical distribution of goods categories.
On Replenishment Rules Forecasting And The Bullwhip Effect In Supply Chains
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Author : Stephen M. Disney
language : en
Publisher: Now Publishers Inc
Release Date : 2008
On Replenishment Rules Forecasting And The Bullwhip Effect In Supply Chains written by Stephen M. Disney and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
In this review we focus on supply coordination and use the bullwhip effect as the key example of supply chain inefficiency. We emphasize the managerial relevance of the bullwhip effect and the methodological issues so that both managers and researchers can benefit.
Effective Multi Echelon Inventory Systems For Supplier Selection And Order Allocation
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Author : Cong Guo (Industrial engineer)
language : en
Publisher:
Release Date : 2014
Effective Multi Echelon Inventory Systems For Supplier Selection And Order Allocation written by Cong Guo (Industrial engineer) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Business logistics categories.
Successful supply chain management requires an effective sourcing strategy to counteract uncertainties in both the suppliers and demands. Therefore, determining a better sourcing policy is critical in most of industries. Supplier selection is an essential task within the sourcing strategy. A well-selected set of suppliers makes a strategic difference to an organization's ability to reduce costs and improve the quality of its end products. To discover the cost structure of selecting a supplier, it is more interesting to further determine appropriate levels of inventory in each echelon for different suppliers. This dissertation focuses on the study of the integrated supplier selection, order allocation and inventory control problems in a multi-echelon supply chain. First, we investigate a non-order-splitting inventory system in supply chain management. In particular, a buyer firm that consists of one warehouse and N identical retailers procures a type of product from a group of potential suppliers, which may have different prices, ordering costs, lead times and have restriction on minimum and maximum total order size, to satisfy stochastic demand. A continuous review system that implements the order quantity, reorder point (Q, R) inventory policy is considered in the proposed model. The model is solved by decomposing the mixed integer nonlinear programming model into two sub-models. Numerical experiments are conducted to evaluate the model and some managerial insights are obtained with sensitivity analysis. In the next place, we extend the study to consider the multi-echelon system with the order-splitting policy. In particular, the warehouse acquisition takes place when the inventory level depletes to a reorder point R, and the order Q is simultaneously split among m selected suppliers. This consideration is important since it could pool lead time risks by splitting replenishment orders among multiple suppliers simultaneously. We develop an exact analysis for the order-splitting model in the multi-echelon system, and formulate the problem in a Mixed Integer Nonlinear Programming (MINLP) model. To demonstrate the solvability and the effectiveness of the model, we conduct several numerical analyses, and further conduct simulation models to verify the correctness of the proposed mathematical model.
Continuous Review Policies For A Multi Echelon Inventory Problem With Stochastic Demand
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Author : Marc De Bodt
language : en
Publisher:
Release Date : 1982
Continuous Review Policies For A Multi Echelon Inventory Problem With Stochastic Demand written by Marc De Bodt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Inventory control categories.