4,840 research outputs found
On two-echelon inventory systems with Poisson demand and lost sales
We derive approximations for the service levels of two-echelon inventory systems with lost sales and Poisson demand. Our method is simple and accurate for a very broad range of problem instances, including cases with both high and low service levels. In contrast, existing methods only perform well for limited problem settings, or under restrictive assumptions.\u
The Value of RFID Technology Enabled Information to Manage Perishables
We address the value of RFID technology enabled information to manage perishables in the context of a supplier that sells a random lifetime product subject to stochastic demand and lost sales. The product's lifetime is largely determined by the time and temperature history in the supply chain. We compare two information cases to a Base case in which the product's time and temperature history is unknown and therefore its shelf life is uncertain. In the first information case, the time and temperature history is known and therefore the remaining shelf life is also known at the time of receipt. The second information case builds on the first case such that the supplier now has visibility up the supply chain to know the remaining shelf life of inventory available for replenishment. We formulate these three different cases as Markov decision processes, introduce well performing heuristics of more practical relevance, and evaluate the value of information through an extensive simulation using representative, real world supply chain parameters.simulation;value of information;RFID;perishable inventory
Basics of inventory management (Part 5: The (R,b,Q)-model)
Inventory Models;management science
Developing an Agent Based Heuristic Optimisation System for Complex Flow Shops with Customer-Imposed Production Disruptions
The study of complex manufacturing flow-shops has seen a number of approaches and frameworks proposed to tackle various production-associated problems. However, unpredictable disruptions, such as change in sequence of order, order cancellation and change in production delivery due time, imposed by customers on flow-shops that impact production processes and inventory control call for a more adaptive approach capable of responding to these changes. In this research work, a new adaptive framework and agent-based heuristic optimization system was developed to investigate the disruption consequences and recovery strategy. A case study using an Original Equipment Manufacturer (OEM) production process of automotive parts and components was adopted to justify the proposed system. The results of the experiment revealed significant improvement in terms of total number of late orders, order delivery time, number of setups and resources utilization, which provide useful information for manufacturer’s decision-making policies.
On-line Non-stationary Inventory Control using Champion Competition
The commonly adopted assumption of stationary demands cannot actually reflect
fluctuating demands and will weaken solution effectiveness in real practice. We
consider an On-line Non-stationary Inventory Control Problem (ONICP), in which
no specific assumption is imposed on demands and their probability
distributions are allowed to vary over periods and correlate with each other.
The nature of non-stationary demands disables the optimality of static (s,S)
policies and the applicability of its corresponding algorithms. The ONICP
becomes computationally intractable by using general Simulation-based
Optimization (SO) methods, especially under an on-line decision-making
environment with no luxury of time and computing resources to afford the huge
computational burden. We develop a new SO method, termed "Champion Competition"
(CC), which provides a different framework and bypasses the time-consuming
sample average routine adopted in general SO methods. An alternate type of
optimal solution, termed "Champion Solution", is pursued in the CC framework,
which coincides the traditional optimality sense under certain conditions and
serves as a near-optimal solution for general cases. The CC can reduce the
complexity of general SO methods by orders of magnitude in solving a class of
SO problems, including the ONICP. A polynomial algorithm, termed "Renewal Cycle
Algorithm" (RCA), is further developed to fulfill an important procedure of the
CC framework in solving this ONICP. Numerical examples are included to
demonstrate the performance of the CC framework with the RCA embedded.Comment: I just identified a flaw in the paper. It may take me some time to
fix it. I would like to withdraw the article and update it once I finished.
Thank you for your kind suppor
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