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A New Perspective On Multi Echelon Inventory Systems
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Book Synopsis A New Perspective on Multi-echelon Inventory Systems by : Alp Muharremogl̆u
Download or read book A New Perspective on Multi-echelon Inventory Systems written by Alp Muharremogl̆u and published by . This book was released on 2002 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) In addition to providing a simple proof technique, the new approach gives rise to efficient algorithms for the calculation of the policy parameters, for all the systems described above. Finally we analyze an assembly system with stochastic leadtimes. We show that the problem can be decomposed into a series of subproblems, each with a single kit of parts. This enhances our understanding about optimal policies in this setting and we develop a relatively efficient algorithm for the computation of optimal policies.
Book Synopsis Research Handbook on Inventory Management by : Jing-Sheng J. Song
Download or read book Research Handbook on Inventory Management written by Jing-Sheng J. Song and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Book Synopsis Optimal Inventory Modeling of Systems by : Craig C. Sherbrooke
Download or read book Optimal Inventory Modeling of Systems written by Craig C. Sherbrooke and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most books on inventory theory use the item approach to determine stock levels, ignoring the impact of unit cost, echelon location, and hardware indenture. Optimal Inventory Modeling of Systems is the first book to take the system approach to inventory modeling. The result has been dramatic reductions in the resources to operate many systems - fleets of aircraft, ships, telecommunications networks, electric utilities, and the space station. Although only four chapters and appendices are totally new in this edition, extensive revisions have been made in all chapters, adding numerous worked-out examples. Many new applications have been added including commercial airlines, experience gained during Desert Storm, and adoption of the Windows interface as a standard for personal computer models.
Book Synopsis Multi-Agent Deep Reinforcement Learning for Multi-Echelon Inventory Management by : Xiaotian Liu
Download or read book Multi-Agent Deep Reinforcement Learning for Multi-Echelon Inventory Management written by Xiaotian Liu and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We apply Multi-Agent Deep Reinforcement Learning (MADRL) to inventory management problems with multiple echelons and evaluate MADRL's performance to minimize the overall costs of a supply chain. We also examine whether the upfront-only information-sharing mechanism used in MADRL helps alleviate the bullwhip effect in a supply chain. We apply Heterogeneous-Agent Proximal Policy Optimization (HAPPO) on the multi-echelon inventory management problems in both a serial supply chain and a supply chain network. Our results show that policies constructed by HAPPO achieve lower overall costs than policies constructed by single-agent deep reinforcement learning and other heuristic policies. Also, the application of HAPPO results in a less significant bullwhip effect than policies constructed by single-agent deep reinforcement learning where information is not shared among actors. Somewhat surprisingly, when applying HAPPO, the system achieves the lowest overall costs when the minimization target for each actor is a combination of its own costs and the overall costs of the system, and the fully self-interested reward target performs near-optimally, while one would expect using the overall costs of the system as a reward target for each actor would be optimal in training the models. Our results provide a new perspective on the benefit of information sharing inside the supply chain that helps alleviate the bullwhip effect and improve the overall performance of the system. Upfront information sharing and action coordination in model training among actors are essential, with the former more essential, for improving a supply chain's overall performance when applying MADRL. Neither actors being fully self-interested nor actors being fully system-focused leads to the optimal performance of policies learned and constructed by MADRL. Our results also verify MADRL's potential in solving various multi-echelon inventory management problems with complex supply chain structures and in non-stationary market environments.
Book Synopsis Demand-Driven Inventory Optimization and Replenishment by : Robert A. Davis
Download or read book Demand-Driven Inventory Optimization and Replenishment written by Robert A. Davis and published by John Wiley & Sons. This book was released on 2016-01-19 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remove built-in supply chain weak points to more effectively balance supply and demand Demand-Driven Inventory Optimization and Replenishment shows how companies can support supply chain metrics and business initiatives by removing the weak points built into their inventory systems. Beginning with a thorough examination of Just in Time, Efficient Consumer Response, and Collaborative Forecasting, Planning, and Replenishment, this book walks you through the mathematical shortcuts set up in your management system that prevent you from attaining supply chain excellence. This expanded second edition includes new coverage of inventory performance, business verticals, business initiatives, and metrics, alongside case studies that illustrate how optimized inventory and replenishment delivers results across retail, high-tech, men's clothing, and food sectors. Inventory optimization allows you to avoid out-of-stock situations without impacting the bottom line with excessive inventory maintenance. By keeping just the right amount of inventory on hand, your company is better able to meet demand without sacrificing the cost-effectiveness of other supply chain strategies. The trick, however, is determining "just the right amount"—and this book provides the background and practical guidance you need to do just that. Examine the major supply chain strategies of the last 30 years Remove the shortcuts that prohibit supply chain excellence Optimize your supply/demand balance in any vertical Overcome systemic weaknesses to strengthen the bottom line Inventory optimization is benefitting companies around the world, as exemplified here by case studies involving Matas, PWT, Wistron, and Amway. When inefficiencies are built into the system, it's only smart business to identify and remove them—and implement a new streamlined process that runs like a well-oiled machine. Demand-Driven Inventory Optimization and Replenishment is an essential resource for exceptional supply chain management.
Book Synopsis Inventory Management in Multi-Echelon Networks by : Christopher Grob
Download or read book Inventory Management in Multi-Echelon Networks written by Christopher Grob and published by Springer. This book was released on 2018-08-14 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory Management in Multi-Echelon Networks presents methods to plan inventory in distribution networks. By holistically looking at the supply chain, it shows how safety stocks across all echelons can be optimized if inventory of all levels is taken into consideration. The gap between the existence of advanced inventory planning methods and their low penetration in the industry was the motivation for this book. Christopher Grob develops essential algorithms that companies can use for network inventory planning and highlights achievable implementation benefits. The work of the author was inspired by the needs of an after sales supply chain of a large automotive company. This company supplies customers all over the world with spare parts and operates a distribution network with more than 100 warehouses. This supply chain faces two particular challenges: demand is highly uncertain and customers expect a high service level. About the Author Christopher Grob works in after sales supply chain management at a major German automotive company. He is responsible for the functional development of inventory planning systems for the spare parts business. He is an expert in the field of inventory management.
Book Synopsis Epidemic-logistics Modeling: A New Perspective on Operations Research by : Ming Liu
Download or read book Epidemic-logistics Modeling: A New Perspective on Operations Research written by Ming Liu and published by Springer Nature. This book was released on 2019-10-03 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first work to conduct the emergency logistics optimization problem under the epidemic environment (whether natural or man-made), which provides a new perspective for the application of optimization theory. In this book, the research methods involve epidemic dynamics, scenario-based emergency decision-making method, big data which combines the traditional and emerging technologies. The authors take epidemic outbreak as the research object and deeply integrate the epidemic spread model with the optimization model of emergency resource scheduling, which opens up a novel application area of operations research.
Book Synopsis A New Perspective on Inventory Systems by : Emóke Bazsa
Download or read book A New Perspective on Inventory Systems written by Emóke Bazsa and published by . This book was released on 2000 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On Human Decision Behavior in Multi-Echelon Inventory Management by : Yingshuai Zhao
Download or read book On Human Decision Behavior in Multi-Echelon Inventory Management written by Yingshuai Zhao and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We conducted experiments in a multi-echelon inventory system with two scenarios: no information sharing and full information sharing. The results indicate that the bullwhip effect persists even after traditional causes have been excluded. Moreover, full information sharing cannot guarantee performance improvement. From a behavioral perspective, we analyze different causes of the bullwhip effect for the two scenarios with linear regression models. Additionally, we find that the attitudes on two important inventory factors (the on-hand inventory and the stockout) are reversed in the two scenarios. These results may provide managers with useful new ideas for improving performance.
Book Synopsis Inventory Optimization and Multi-Echelon Planning Software by : Shaun Snapp
Download or read book Inventory Optimization and Multi-Echelon Planning Software written by Shaun Snapp and published by Scm Focus. This book was released on 2012-08-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books explains the emerging technology of inventory optimization and multi-echelon (MEIO) supply planning. It takes a complex subject and effectively communicates what MEIO is about in plain English terms. This is the only book currently available that describes MEIO for practitioners, rather for mathematicians or academics. The book describes with text and graphics how inventory optimization allows the entire supply plan to be controlled with service levels, and how multi echelon technology answers the question of where to locate inventory in the supply network. This is the only book on inventory optimization and multi echelon planning which compares how different best of breed vendors apply MEIO technology to their products. It also explains why this technology is so important for supply planning and why companies should be actively investigating this method. The book moves smoothly between concepts to screen shots and descriptions of how the screens are configured and used. This provides the reader with some of the most intriguing areas of functionality within a variety of applications.
Book Synopsis Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) by : Marc de Bodt
Download or read book Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) written by Marc de Bodt and published by . This book was released on 2015-08-05 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Strategic Safety Stocks in Supply Chains by : Stefan Minner
Download or read book Strategic Safety Stocks in Supply Chains written by Stefan Minner and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing customer requirements, product variety, and market competition demand for service and cost improvements by model based inventory control in supply chains. The book presents approaches for safety stock determination in manufacturing and logistics networks. Most of the existing literature provides methods for very specific types of supply networks. The approach presented in this book follows a material flow philosophy that allows for several extensions of the basic models and therefore offers a wide applicability within decision support systems. Models for several types of problems and network structures are presented and analyzed to develop efficient optimization algorithms and heuristics.
Book Synopsis Developing New Inventory Segmentation Methods for Large-scale Multi-echelon Inventory Systems by : Alireza Sheikh Zadeh
Download or read book Developing New Inventory Segmentation Methods for Large-scale Multi-echelon Inventory Systems written by Alireza Sheikh Zadeh and published by . This book was released on 2017 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unified objective of this dissertation is to increase the efficiency of large-scale inventory policy algorithms (i.e. including thousands of spare parts) by developing segmentation and aggregation methods while controlling the performance penalty associated with the aggregation. This dissertation is designed based on three articles. In the first and second articles, we present a near-optimal heuristic segmentation approach in the context of the VARI-METRIC and multi-echelon (r,q) problems, which are performance-based nonlinear stocking policy models. The performance-based classification method is developed based on the stocking policies, in contrast to conventional methods that rely on segmentation based on item operational parameters such as demand, annual dollar usage, or item unit cost. This research proposes the artificial stocking policy (ASP) as new inventory classification criteria. Moreover, a non-subjective linear programming scoring method is developed for ranking the criticality of the items. We also proposed performance-based partitioning techniques such as Pareto threshold cutoff-points (PTC), equal partitioning (EP), and simulated annealing (SA), which are tested successfully versus the alternative classification, clustering, and complete enumeration techniques. For instance, the performance difference between using the ASP and SA versus the optimal lower bound is about 1.2%. Finally, in the third article, we design an aggregation and disaggregation framework for solving large-scale, multi-echelon inventory policy problems in a more efficient way. The aggregation process assigns a similar group policy (aggregated solution) for all items belonging to the same group, and the disaggregation process calibrates the group policy into the individual policies using marginal analysis greedy adjustment (MAGA). This adjustment is exceptionally fast in practice and indicates improvement in the performance versus an aggregated solution. The numerical results show that MAGA can approach the original optimal solution in a range between 1-3% penalty cost while reducing the execution time in a range between 90-99.5%.
Book Synopsis Multiple Sourcing in Single- and Multi-echelon Inventory Systems by :
Download or read book Multiple Sourcing in Single- and Multi-echelon Inventory Systems written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis deals with stochastic inventory models that focus on the following two aspects in particular: (i) the coordination of multiple supply sources and (ii) the optimization of the inventory allocation and sizing in multi-echelon systems. Initially, single-echelon inventory models with multiple sourcing and multi-echelon inventory models with single sourcing are analyzed separately. In the former case, the goal is the identification of effective inventory control policies. In the latter case, the focus lies on the development of a new multi-echelon approach, which combines the two major frameworks currently available in the literature. Subsequently, both aspects are integrated into a multi-echelon inventory model with multiple sourcing.
Download or read book Inventory Control written by Sven Axsäter and published by Springer. This book was released on 2015-07-06 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition, which has been fully updated and now includes improved and extended explanations, is suitable as a core textbook as well as a source book for industry practitioners. It covers traditional approaches for forecasting, lot sizing, determination of safety stocks and reorder points, KANBAN policies and Material Requirements Planning. It also includes recent advances in inventory theory, for example, new techniques for multi-echelon inventory systems and Roundy's 98 percent approximation. The book also considers methods for coordinated replenishments of different items, and various practical issues in connection with industrial implementation. Other topics covered in Inventory Control include: alternative forecasting techniques, material on different stochastic demand processes and how they can be fitted to empirical data, generalized treatment of single-echelon periodic review systems, capacity constrained lot sizing, short sections on lateral transshipments and on remanufacturing, coordination and contracts. As noted, the explanations have been improved throughout the book and the text also includes problems, with solutions in an appendix.
Book Synopsis Optimization of (R, Q) Policies for Multi-echelon Inventory Systems with Guaranteed Service by : Peng Li
Download or read book Optimization of (R, Q) Policies for Multi-echelon Inventory Systems with Guaranteed Service written by Peng Li and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Multi-echelon Inventory Systems with Alternate Order Options by : Prabhu K. Aggarwal
Download or read book Multi-echelon Inventory Systems with Alternate Order Options written by Prabhu K. Aggarwal and published by . This book was released on 1991 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
