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Inventory Optimization In Large Scale Multi Echelon Spare Parts Inventory Systems
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Book Synopsis Inventory Optimization in Large Scale Multi-echelon Spare Parts Inventory Systems by : Mohammad Hani Al-Rifai
Download or read book Inventory Optimization in Large Scale Multi-echelon Spare Parts Inventory Systems written by Mohammad Hani Al-Rifai and published by . This book was released on 2005 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 2013-09-11 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Use demand driven optimized inventory and replenishment to overcome your supply chain weaknesses, and deliver business-maximizing results Reviewing the fundamentals of inventory optimization so that you can attain a demand-driven supply, Demand-Driven Inventory Optimization and Replenishment provides a business look at why present inventory systems sub-optimize the supply chain and faulty replenishment processes lead to wasted time and effort. Straightforward and clearly written, this book allows readers to come away with a good understanding of why optimized inventory and replenishment helps overcome in-system weaknesses and deliver results. Discusses how multi-echelon inventory optimization and replenishment enables installed systems to go from a sequential, "islands of efficiency" approach to a systematic distribution system working as a complete network Provides case studies throughout Reveals how optimized inventory and replenishment delivers results across industry verticals With a historical view of the three major supply chain efforts of the last thirty years, this book discusses mathematical shortcuts set up in the transitional and supply chain management systems that make it very difficult for companies to attain supply chain excellence.
Book Synopsis Spare Parts Inventory Control under System Availability Constraints by : Geert-Jan van Houtum
Download or read book Spare Parts Inventory Control under System Availability Constraints written by Geert-Jan van Houtum and published by Springer. This book was released on 2015-05-18 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the tactical planning level for spare parts management. It describes a series of multi-item inventory models and presents exact and heuristic optimization methods, including greedy heuristics that work well for real, life-sized problems. The intended audience consists of graduate students, starting scholars in the field of spare parts inventory control, and spare parts planning specialists in the industry. In individual chapters the authors consider topics including: a basic single-location model; single-location models with multiple machine types and/or machine groups; the multi-location model with lateral transshipments; the classical METRIC model and its generalization to multi-indenture systems; and a single-location model with an explicit modeling of the repair capacity for failed parts and the priorities that one can set there. Various chapters of the book are used in a master course at Eindhoven University of Technology and in a PhD course of the Graduate Program Operations Management and Logistics (a Dutch network that organizes PhD courses in the field of OM&L). The required pre-knowledge consists of probability theory and basic knowledge of Markov processes and queuing theory. End-of-chapter problems appear for all chapters, with some answers appearing in an appendix.
Book Synopsis A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand by : Suman Nirajan
Download or read book A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand written by Suman Nirajan and published by . This book was released on 2008 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Optimization in Large Scale Problems by : Mahdi Fathi
Download or read book Optimization in Large Scale Problems written by Mahdi Fathi and published by Springer Nature. This book was released on 2019-11-20 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides resourceful thinking and insightful management solutions to the many challenges that decision makers face in their predictions, preparations, and implementations of the key elements that our societies and industries need to take as they move toward digitalization and smartness. The discussions within the book aim to uncover the sources of large-scale problems in socio-industrial dilemmas, and the theories that can support these challenges. How theories might also transition to real applications is another question that this book aims to uncover. In answer to the viewpoints expressed by several practitioners and academicians, this book aims to provide both a learning platform which spotlights open questions with related case studies. The relationship between Industry 4.0 and Society 5.0 provides the basis for the expert contributions in this book, highlighting the uses of analytical methods such as mathematical optimization, heuristic methods, decomposition methods, stochastic optimization, and more. The book will prove useful to researchers, students, and engineers in different domains who encounter large scale optimization problems and will encourage them to undertake research in this timely and practical field. The book splits into two parts. The first part covers a general perspective and challenges in a smart society and in industry. The second part covers several case studies and solutions from the operations research perspective for large scale challenges specific to various industry and society related phenomena.
Book Synopsis The Design of Multi-Product Multi-Echelon Inventory Systems Using a Branch-and-Bound Algorithm by : Charles Edward Pinkus
Download or read book The Design of Multi-Product Multi-Echelon Inventory Systems Using a Branch-and-Bound Algorithm written by Charles Edward Pinkus and published by . This book was released on 1971 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale distribution systems require a hierarchy of retail stores and warehouses to satisfy the demand of their customers. Given the maximum number of installations and their possible locations, the problem is to determine which installations to include in the design of the system and which products to stock at these installations. Demand for the products is assumed known and may be deterministic or stochastic. The objective is to find a solution to this design problem which minimizes the total (expected) discounted cost for the lifetime of the system. This problem has been formulated as a combinatorial optimization problem and solved by a branch-and-bound algorithm. The subproblems of the algorithm are tractable integer linear programs. Applications of this model to the design of other multi-use, multi-facility systems are briefly described. (Author).
Book Synopsis Optimal Design of Multi-Product Multi-Echelon Inventory Systems by : Charles E. Pinkus
Download or read book Optimal Design of Multi-Product Multi-Echelon Inventory Systems written by Charles E. Pinkus and published by . This book was released on 1972 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large scale inventory distribution system typically comprise a hierarchy of retail stores and warehouses. The paper presents a model for finding the optimal design of such systems. Given the maximum number of facilities under consideration and their possible locations, the problem is to determine which facilities to include in the system and which products to stock at each in order to minimize the cost of the system. Demand for the products may be deterministic or stochastic. To use the model it is necessary to know the optimal inventory policies for the multi-echelon systems under consideration, however, an important feature of this work is that any multi-echelon model may be used in tandem with this design model. Included is an example to illustrate the model and the two points which are the basis for its formulation: first, there is generally no single design which is best for all products; second, the design which is optimal for a given product is not necessarily the best design to use when trying to minimize the cost of the entire system. (Author).
Book Synopsis A Multi-echelon Spare Parts Inventory System with Emergency Lateral Shipments Subject to a Response Time Constraint by : Deniz Caglar
Download or read book A Multi-echelon Spare Parts Inventory System with Emergency Lateral Shipments Subject to a Response Time Constraint written by Deniz Caglar and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Thus, the focus of this dissertation is on the analysis of a multi-echelon spare parts inventory system of a mainframe manufacturer. The model we construct and analyze is characterized by hundreds of parts and customers, very low part failure rates, tight service level requirement, and many field depots. Also, we allow emergency lateral shipments. Our goal is to identify stocking policies for this system to minimize system-wide inventory holding cost.
Book Synopsis Optimizing Multi-echelon Spare Parts Inventory Policies Under Delayed Lateral Transshipment and Limited Storage Space Using Simulation-based Optimization by : Lance Timothy Luttrell
Download or read book Optimizing Multi-echelon Spare Parts Inventory Policies Under Delayed Lateral Transshipment and Limited Storage Space Using Simulation-based Optimization written by Lance Timothy Luttrell and published by . This book was released on 2009 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Multi-echelon Inventory Optimization for an Oil Services Company by : Michael Chalapong
Download or read book Multi-echelon Inventory Optimization for an Oil Services Company written by Michael Chalapong and published by . This book was released on 2011 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the oilfield services industry, healthy margins and the criticality of product availability have often over shadowed the need for operational efficiency. Although those factors have not changed, the emergence of stronger industry competition and challenging economic climates have prompted ABC company to explore efficiency gains via supply chain optimization. This thesis examines and assesses opportunities for ABC Company to employ statistical inventory models, understand a variety of factors that influence inventory levels and costs, and improve its network structure. As many inventory models are not designed to accommodate SKUs that have very low rates of consumption, we also propose a methodology that will provide operational guidance and cost implications to address these types of SKUs.
Book Synopsis Intelligent Decision Systems in Large-Scale Distributed Environments by : Pascal Bouvry
Download or read book Intelligent Decision Systems in Large-Scale Distributed Environments written by Pascal Bouvry and published by Springer Science & Business Media. This book was released on 2011-06-19 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most challenging issues for the intelligent decision systems is to effectively manage the large-scale complex distributed environments such as computational clouds, grids, ad hoc and P2P networks, under the different types of users, their relations, and real-world uncertainties. In this context the IT resources and services usually belong to different owners (institutions, enterprises, or individuals) and are managed by different administrators. These administrators conform to different sets of rules and configuration directives, and can impose different usage policies on the system users. Additionally, uncertainties are presented in various types of information that are incomplete, imprecise, fragmentary or overloading, which hinders the full and precise determination of the evaluation criteria, their subsequent and selection, the assignment scores, and eventually the final integrated decision result. This book presents new ideas, analysis, implementations and evaluation of the next generation intelligent techniques for solving complex decision problems in large-scale distributed systems. In 15 chapters several important formulations of the decision problems in heterogeneous environments are identified and a review of the recent approaches, from game theoretical models and computational intelligent techniques, such as genetic, memetic and evolutionary algorithms, to intelligent multi-agent systems and networking are presented. We believe that this volume will serve as a reference for the students, researchers and industry practitioners working in or are interested in joining interdisciplinary works in the areas of intelligent decision systems using emergent distributed computing paradigms. It will also allow newcomers to grasp key concerns and potential solutions on the selected topics.
Book Synopsis Hierarchical Spare Parts Inventory Systems by : Rastko Petrović
Download or read book Hierarchical Spare Parts Inventory Systems written by Rastko Petrović and published by Elsevier Publishing Company. This book was released on 1986 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis NASA SP-7500 by : United States. National Aeronautics and Space Administration
Download or read book NASA SP-7500 written by United States. National Aeronautics and Space Administration and published by . This book was released on with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Spare Parts Inventory Management by : Phillip Slater
Download or read book Spare Parts Inventory Management written by Phillip Slater and published by . This book was released on 2016-11-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Overview No previous works have focused on the topic of inventory reduction and optimization to the extent that this one does. Spare Parts Inventory Management: A Complete Guide to Sparesology(tm) by Philip Slater covers the whole part's life cycle, from initial purchase to final disposal, and addresses issues throughout, including maintenance, repair, and overhaul (MRO). The author, Phillip Slater, was described in a recent podcast as "truly one of the leaders in the MRO information segment." Sparesology is a term coined by Slater to describe the discipline of optimizing the physical, financial, and human resource management processes of spare parts inventory management. Sparesology is much more than just inventory optimization. It involves an understanding of the complete "ecosystem," within which the spare parts inventory is managed, and seeks to ensure that all of the factors influencing this management work together to achieve an organization's goals.
Book Synopsis Smart Inventory Solutions by : Phillip Slater
Download or read book Smart Inventory Solutions written by Phillip Slater and published by Industrial Press Inc.. This book was released on 2010 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Engineers and reliability professionals are increasingly being held accountable for materials and spare parts inventory management and in response they need to gain a better understanding of materials and spare parts inventory management principles and practices. This practical book delivers just that. This new edition will help you get the right parts, in the right place, at the right time, for the right reason. Fully revised, it provides specific coverage of the issues faced in, and requirements for, managing engineering materials and spare parts and what to do to improve your results. It includes 29 exclusive examples and real life case studies to demonstrate the application of the concepts and ideas so that you will easy and quickly understand how to implement them. What's more it will show you: What to do to truly optimize your inventory holdings, Why inventory levels are almost always too high, How to identifying the factors that have greatest impact on your inventory levels, When to apply the 7 Actions for Inventory Reduction, Where to focus your efforts for greatest effect, and Who to involve in taking action. The concepts, ideas, tools, and processes in this book have helped many companies achieve and sustain results that other inventory tools and approaches just could not match. And it is sure to help you achieve true inventory optimization as well! Features The second edition includes... A new chapter on The Mechanics of Inventory Management, a pragmatic review of the management of inventory including... Introducing the Materials and Inventory Management Cycle, Comparing theoretical and actual inventory outcomes, Discussion on normal and Poisson distribution models, How to determine the re order point, How to determine the re order quantity, and Commentary on Monte Carlo simulation. An expanded chapter on the financial impact of inventory, including a discussion of the key reports that need to be understood. Chapters on the influence of policies, procedures, and people. Additional discussion on issues faced and how to address them. An expansion of the central process discussed in the first edition to a more comprehensive review process...Inventory Process(TM) Optimization. An expanded section on executing an inventory review program. A closing 'where to from here' chapter. 57 figures and diagrams - 30 of them new and the others all revised and updated and six new tables (with 8 in total). Eight new checklists - specifically included as a new tool for the reader and is the result of direct reader requests. An expanded glossary.
Book Synopsis Strategic Inventory Placement in Large-Scale Multi-Echelon Networks by : Josef Svoboda
Download or read book Strategic Inventory Placement in Large-Scale Multi-Echelon Networks written by Josef Svoboda and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The placement and sizing of safety stocks in supply chains pose a challenging optimization problem. State-of-the-art multi-echelon inventory optimization models, such as the guaranteed-service approach, are non-linear and depend on statistical, time-series-based approaches that require distributional and parametric assumptions. We propose a data-driven, non-parametric and distribution-free approach for safety stock planning in multi-echelon inventory networks that utilizes historical demand and feature data. We extend data-driven optimization in inventory control from newsvendor models to multi-period and multi-echelon problems. Our model accommodates general, acyclic multi-echelon networks and simultaneously determines safety stock allocation and sizing by setting cost-optimal base stocks for all stages under consideration of service requirements. By developing a mixed-integer programming formulation and a Benders decomposition method, we offer a novel methodological approach to a well-studied problem that can be solved with commercial mathematical programming solvers. We also provide a probabilistic analysis of the data-driven performance relative to an oracle solution when sample data is limited. We show that the mixed integer programming approach is scalable by solving 38 large-scale supply chain benchmark networks with assembly, distribution, and general structures.
