A Multi-echelon Inventory System with Supplier Selection and Order Allocation Under Stochastic Demand - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Multi-echelon Inventory System with Supplier Selection and Order Allocation Under Stochastic Demand write by Cong Guo (Industrial engineer). This book was released on 2013. A Multi-echelon Inventory System with Supplier Selection and Order Allocation Under Stochastic Demand available in PDF, EPUB and Kindle. This article addresses the development of an integrated supplier selection and inventory control problems in supply chain management by developing a mathematical model for a multi-echelon system. In particular, a buyer firm that consists of one warehouse and N identical retailers wants to procure a type of product from a group of potential suppliers, which may require different price, ordering cost, lead time and have restriction on minimum and maximum total order size, to satisfy the stochastic demand. A continuous review system that implements the order quantity, reorder point (Q, R) inventory policy is considered in the model. The objective of the model is to select suppliers and to determine the optimal inventory policy that coordinates stock level between each echelon of the system while properly allocating orders among selected suppliers to maximize the expected profit. The model has been 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 by performing some sensitivity analysis.
Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation
Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation write by Cong Guo (Industrial engineer). This book was released on 2014. Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation available in PDF, EPUB and Kindle. 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.
Studies in Quantitative Decision Making
Studies in Quantitative Decision Making - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Studies in Quantitative Decision Making write by Diptesh Ghosh. This book was released on 2022-03-10. Studies in Quantitative Decision Making available in PDF, EPUB and Kindle. This edited volume is an in-depth collation of the usage of different quantitative decision making techniques in practical areas such as lean & green supply chain, reverse logistics, perishable logistics, closed loop supply chain, sustainable project management, retail management, block chain applications, optimal supplier selection problem, demand/supply modelling, forecasting under uncertainties, scheduling & sequencing, resource constraint logistics, dynamic network supply chain, risk evaluation, and so on. Additionally, the book also solves these issues in theoretical and practical context using innovative mathematical tools. Consisting of selected papers from the 23rd Annual International Conference of the Society of Operations Management, this book's highlight is not only the coverage of interesting topics, but also how these topics are dealt with, such that post-graduate students as well as researchers and industry personnel working in areas like engineering, economics, social sciences, management, mathematics, etc., can derive the maximum benefit by reading or referring to this book. Apart from the emphasis on new mathematical, operations research, operations management, and statistical techniques, the authors also ensure that all the concepts are made clear by highlighting their practical significance in different areas of applications of operations management. By using novel presentation methods, the book offers a good practical flavor of all the different topics relevant to operations management in the coming decades.
A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand
A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand write by Suman Nirajan. This book was released on 2008. A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand available in PDF, EPUB and Kindle. 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.
Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint)
Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) write by Marc de Bodt. This book was released on 2015-08-05. Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) available in PDF, EPUB and Kindle. Excerpt from Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand was written by Marc de Bodt and Stephen C. Graves in 1982. This is a 58 page book, containing 5607 words and 5 pictures. Search Inside is enabled for this title. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
