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Author : Marcel Jacobus Kleijn
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (678 download)
Download or read book An Overview of Inventory Systems with Several Demand Classes written by Marcel Jacobus Kleijn and published by . This book was released on 1998 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hasan Arslan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Single-Product Inventory Model for Multiple Demand Classes written by Hasan Arslan and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a single-product inventory system that serves multiple demand classes, which differ in their shortage costs or service level requirements. We assume a critical-level control policy, and show the equivalence between this inventory system and a serial inventory system. Based on this equivalence, we develop a model for cost evaluation and optimization, under the assumptions of Poisson demand, deterministic replenishment lead-time, and a continuous-review (Q, R) policy with rationing. We propose a computationally-efficient heuristic and develop a bound on its performance. We provide a numerical experiment to show the effectiveness of the heuristic and the value from a rationing policy. Finally, we describe how to extend the model to permit service times, and to embed within a multi-echelon setting.
Author : Hossein Abouee Mehrizi
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Managing Perishable Inventory Systems with Multiple Demand Classes written by Hossein Abouee Mehrizi and published by . This book was released on 2018 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study a multi-period stochastic perishable inventory system with multiple demand classes that require products of different ages. The firm orders the product with a positive leadtime and sells it to multiple demand classes, each only accepting products with remaining lifetime longer than a threshold. In each period, after demand realization, the firm decides how to allocate the on-hand inventory to different demand classes with different backorder or lost-sale cost. At the end of each period, the firm can dispose inventory of any age. We formulate this problem as a Markov decision process and characterize the optimal ordering, allocation, and disposal policies. When unfulfilled demand is backlogged, we show that the optimal order quantity is decreasing in the inventory levels and is more sensitive to the inventory level of fresher products, the optimal allocation policy is a sequential rationing policy, and the optimal disposal policy is characterized by a set of thresholds. For the lost-sale case, we show that the optimal allocation and disposal policies have the same structure but the optimal ordering policy may be different. Based on the structure of the optimal policy, we develop an efficient heuristic that is at most 4% away from the optimal cost in our numerical examples. Using numerical studies, we show that the ordering and allocation policies are close to optimal even if the firm cannot intentionally dispose products. Moreover, ignoring the difference between demand classes and using a simple allocation policy (e.g., FIFO) can significantly increase the total cost. We examine how the firm can improve the control of perishable items and show that the benefit of decreasing the leadtime is more significant than that of increasing the lifetime of the products or that of decreasing the acceptance threshold of the demand. The analysis is extended to systems with age dependent disposal cost and stochastic supply.
Author : M. Grazia Speranza
Publisher : Springer
ISBN 13 :
Total Pages : 342 pages
Book Rating : 4.:/5 (321 download)
Download or read book New Trends in Distribution Logistics written by M. Grazia Speranza and published by Springer. This book was released on 1999-12-15 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text covers the main problems of distribution logistics: network design and location problems, tactical and operational planning of transport, internal logistics, and inventory management. It contains a rigorous methodological approach with an emphasis on practical problems.
Author : Arthur F. Veinott (Jr.)
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.F/5 ( download)
Download or read book Optimal Policy in a Dynamic, Single Product, Nonstationary Inventory Model with Several Demand Classes written by Arthur F. Veinott (Jr.) and published by . This book was released on 1965 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: A multiperiod single product nonstationary inventory problem is studied in which the system is reviewed at the beginning of each of a sequence of periods of equal length. The model has the following features. There are several classes of demand for the product in each period. The demands in different periods are independent but not necessarily identically distributed. The cost structure is nonstationary with the ordering cost being proportional to the amount ordered. Conditions are given that ensure that the base stock ordering policy is optimal and that the base stock levels in each period are easy to calculate. The results are based on earlier work of the author and on properties of stochastically ordered distributions that are developed in the paper. The case of a linear holding cost and a linear storage cost is studied in detail. (Author).
Author : J. Christian Lang
Publisher : Springer Science & Business Media
ISBN 13 : 3642042473
Total Pages : 271 pages
Book Rating : 4.6/5 (42 download)
Download or read book Production and Inventory Management with Substitutions written by J. Christian Lang and published by Springer Science & Business Media. This book was released on 2009-11-25 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitativeapproachesforsolvingproductionplanningandinventorymanagement problems in industry have gained growing importance in the past years. Due to the increasinguse of AdvancedPlanningSystems, a widespreadpracticalapplicationof the sophisticated optimization models and algorithms developed by the Production Management and Operations Research community now seem within reach. The possibility that productscan be replaced by certain substitute productsexists in various application areas of production planning and inventory management. Substitutions can be useful for a number of reasons, among others to circ- vent production and supply bottlenecks and disruptions, increase the service level, reduce setup costs and times, and lower inventories and thereby decrease ca- tal lockup. Considering the current trend in industry towards shorter product life cycles and greater product variety, the importance of substitutions appears likely to grow. Closely related to substitutions are ?exible bills-of-materials and recipes in multi-level production systems. However, so far, the aspect of substitutions has not attracted much attention in academic literature. Existing lot-sizing models matching complex requirements of industrial optimization problems (e.g., constrained capacities, sequence-dependent setups, multiple resources) such as the Capacitated Lot-Sizing Problem with Sequence-Dependent Setups (CLSD) and the General Lot-Sizing and Scheduling Problem for Multiple Production Stages (GLSPMS) do not feature in substitution options.
Author : Erlend Alfnes
Publisher : Springer Nature
ISBN 13 : 3031436709
Total Pages : 872 pages
Book Rating : 4.0/5 (314 download)
Download or read book Advances in Production Management Systems. Production Management Systems for Responsible Manufacturing, Service, and Logistics Futures written by Erlend Alfnes and published by Springer Nature. This book was released on 2023-09-13 with total page 872 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 4-volume set, IFIP AICT 689-692, constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2023, held in Trondheim, Norway, during September 17–21, 2023. The 213 full papers presented in these volumes were carefully reviewed and selected from a total of 224 submissions. They were organized in topical sections as follows: Part I : Lean Management in the Industry 4.0 Era; Crossroads and Paradoxes in the Digital Lean Manufacturing World; Digital Transformation Approaches in Production Management; Managing Digitalization of Production Systems; Workforce Evolutionary Pathways in Smart Manufacturing Systems; Next Generation Human-Centered Manufacturing and Logistics Systems for the Operator 5.0; and SME 5.0: Exploring Pathways to the Next Level of Intelligent, Sustainable, and Human-Centered SMEs. Part II : Digitally Enabled and Sustainable Service and Operations Management in PSS Lifecycle; Exploring Digital Servitization in Manufacturing; Everything-as-a-Service (XaaS) Business Models in the Manufacturing Industry; Digital Twin Concepts in Production and Services; Experiential Learning in Engineering Education; Lean in Healthcare; Additive Manufacturing in Operations and Supply Chain Management; and Applications of Artificial Intelligence in Manufacturing. Part III : Towards Next-Generation Production and SCM in Yard and Construction Industries; Transforming Engineer-to-Order Projects, Supply Chains and Ecosystems; Modelling Supply Chain and Production Systems; Advances in Dynamic Scheduling Technologies for Smart Manufacturing; and Smart Production Planning and Control. Part IV : Circular Manufacturing and Industrial Eco-Efficiency; Smart Manufacturing to Support Circular Economy; Product Information Management and Extended Producer Responsibility; Product and Asset Life Cycle Management for Sustainable and Resilient Manufacturing Systems; Sustainable Mass Customization in the Era of Industry 5.0; Food and Bio-Manufacturing; Battery Production Development and Management; Operations and SCM in Energy-Intensive Production for a Sustainable Future; and Resilience Management in Supply Chains.
Author : 鮑麗娜
Publisher :
ISBN 13 :
Total Pages : 145 pages
Book Rating : 4.:/5 (112 download)
Download or read book Inventory Management with Multiple Demand Classes and Pricing written by 鮑麗娜 and published by . This book was released on 2017 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Karin Möllering
Publisher : Springer
ISBN 13 : 3658242558
Total Pages : 172 pages
Book Rating : 4.6/5 (582 download)
Download or read book Inventory Rationing written by Karin Möllering and published by Springer. This book was released on 2019-03-01 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decades have seen an increasing diversity of customer expectations and growing competitive pressure for a wide variety of industries. Customer segmentation and subsequent inventory rationing provide a way to cope with those customer demands while maintaining a competitive offer. The general idea resembles the yield management practised in the airline or hotel industries: Demand fulfilment for low priority customers might be refused or delayed in order to reserve stock for more important clients. This dissertation thesis from Karin Möllering provides a comprehensive introduction to inventory rationing. It gives an overview of the different approaches studied and identifies state-of-the-art rules. In a second step, the book particularly focuses on an easy-to-implement but highly efficient rationing strategy. For this strategy, a mathematical model is developed that allows for optimization under different objectives. Potential readership includes scholars of inventory control and management science, students interested in these areas as well as practitioners involved in formulating and implementing rationing strategies.
Author : John A. Muckstadt
Publisher : Springer Science & Business Media
ISBN 13 : 0387689486
Total Pages : 339 pages
Book Rating : 4.3/5 (876 download)
Download or read book Principles of Inventory Management written by John A. Muckstadt and published by Springer Science & Business Media. This book was released on 2010-03-20 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventories are prevalent everywhere in the commercial world, whether it be in retail stores, manufacturing facilities, government stockpile material, Federal Reserve banks, or even your own household. This textbook examines basic mathematical techniques used to sufficiently manage inventories by using various computational methods and mathematical models. The text is presented in a way such that each section can be read independently, and so the order in which the reader approaches the book can be inconsequential. It contains both deterministic and stochastic models along with algorithms that can be employed to find solutions to a variety of inventory control problems. With exercises at the end of each chapter and a clear, systematic exposition, this textbook will appeal to advanced undergraduate and first-year graduate students in operations research, industrial engineering, and quantitative MBA programs. It also serves as a reference for professionals in both industry and government worlds. The prerequisite courses include introductory optimization methods, probability theory (non-measure theoretic), and stochastic processes.
Author : Faruk Y?lmaz, Ömer
Publisher : IGI Global
ISBN 13 : 1522529454
Total Pages : 480 pages
Book Rating : 4.5/5 (225 download)
Download or read book Handbook of Research on Applied Optimization Methodologies in Manufacturing Systems written by Faruk Y?lmaz, Ömer and published by IGI Global. This book was released on 2017-11-30 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s manufacturing systems are undergoing significant changes in the aspects of planning, production execution, and delivery. It is imperative to stay up-to-date on the latest trends in optimization to efficiently create products for the market. The Handbook of Research on Applied Optimization Methodologies in Manufacturing Systems is a pivotal reference source including the latest scholarly research on heuristic models for solving manufacturing and supply chain related problems. Featuring exhaustive coverage on a broad range of topics such as assembly ratio, car sequencing, and color constraints, this publication is ideally designed for practitioners seeking new comprehensive models for problem solving in manufacturing and supply chain management.
Author : E. Naddor
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.3/5 (91 download)
Download or read book Inventory Systems written by E. Naddor and published by John Wiley & Sons. This book was released on 1966-01-15 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 600 pages
Book Rating : 4.3/5 (91 download)
Download or read book Management Science written by and published by . This book was released on 2002-09 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
Author : Xiaoying Liang
Publisher : Springer
ISBN 13 : 3319486357
Total Pages : 110 pages
Book Rating : 4.3/5 (194 download)
Download or read book Inventory Management with Alternative Delivery Times written by Xiaoying Liang and published by Springer. This book was released on 2016-11-24 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a modeling framework to analyze the problem of inventory management with alternative delivery times. The general context considered here is that a seller replenishes its inventory in fixed intervals and, between replenishments, allocates the limited inventory to satisfy customers who are both price and delivery-time sensitive. On the demand side, customers have heterogeneous delivery-time requirements and choose either spot or late delivery. This theoretical modeling captures the essence of real-world business practices such as the delivery time market segmentation strategy adopted by automobile dealerships in China and many other similar examples. The book focuses on the seller’s optimal inventory replenishment and demand fulfillment policies, and our results provide managerial insights into the merits of flexible delivery-time options. Similar applications such as the group-buying mechanism are also examined. The main mathematical tool used in theoretical analysis is dynamic programming. This book is written for students, researchers, and practitioners in the areas of operations management and industrial engineering who are interested in understanding the rationale of flexible delivery times and designing successful applications.
Author : R. S. Saxena
Publisher : Global India Publications
ISBN 13 : 9789380228211
Total Pages : 322 pages
Book Rating : 4.2/5 (282 download)
Download or read book INVENTORY MANAGEMENT: Controlling in a Fluctuating Demand Environment written by R. S. Saxena and published by Global India Publications. This book was released on 2009-12 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is for the inventory control practitioner.WIth the techniques described many people have been able to manage their stock of inventory so that their customers are happier and so are the accountants. The reduction of inventory value, the avoidance of unnecessary work and the improvement of customer service can be accomplished at the sam time through simple application of the techniques discussed. Inventory practitioners should be able to use this book to understand the best approaches and then to apply them to their own circumstances. Simple application of the methods is most succesful, while modifications usually result in less effective outcomes.
Author : George Hadley
Publisher :
ISBN 13 :
Total Pages : 472 pages
Book Rating : 4.F/5 ( download)
Download or read book Analysis of Inventory Systems written by George Hadley and published by . This book was released on 1963 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yu-Chi Ho
Publisher : Springer Science & Business Media
ISBN 13 : 0387686924
Total Pages : 325 pages
Book Rating : 4.3/5 (876 download)
Download or read book Ordinal Optimization written by Yu-Chi Ho and published by Springer Science & Business Media. This book was released on 2008-01-23 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance evaluation of increasingly complex human-made systems requires the use of simulation models. However, these systems are difficult to describe and capture by succinct mathematical models. The purpose of this book is to address the difficulties of the optimization of complex systems via simulation models or other computation-intensive models involving possible stochastic effects and discrete choices. This book establishes distinct advantages of the "softer" ordinal approach for search-based type problems, analyzes its general properties, and shows the many orders of magnitude improvement in computational efficiency that is possible.
