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Author : Po-Hsin Liu
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.:/5 (436 download)
Download or read book Optimization of Multi-echelon Inventory Development in a Finished Goods Network written by Po-Hsin Liu and published by . This book was released on 1999 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christopher Grob
Publisher : Springer
ISBN 13 : 3658233753
Total Pages : 153 pages
Book Rating : 4.6/5 (582 download)
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.
Author : Robert Giacomantonio
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.:/5 (857 download)
Download or read book Multi-echelon Inventory Optimization in a Rapid-response Supply Chain written by Robert Giacomantonio and published by . This book was released on 2013 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The motivation for multi-echelon supply chain management at Nike is to more cost-effectively accommodate customer-facing lead time reduction in the rapid-response replenishment business model. Multi-echelon inventory management, as opposed to a traditional finished-goods only philosophy, provides two clear benefits to a make-to-stock supply chain: first, it increases flexibility through staging calculated work-in-process inventory buffers at critical supply chain links and allowing postponed identification of finished goods; second, inventories held as work-in- process are typically carried at lower cost than finished goods. This thesis details the completion of a project intended to improve Nike's ability to determine optimal inventory levels by balancing cost and service level tradeoffs in a multi-echelon-enabled environment. The goal is to develop an inventory modeling methodology for Nike's supply chain data architecture specifically to evaluate the hypothesis that multi-echelon inventory management will present only limited opportunity for cost reduction in offshore, long lead time make-to-stock supply chains. To directly asses the hypothesis, Llamasoft's Supply Chain Guru optimization software will be deployed to create an inventory optimization model for a specific family of apparel products sold as part of Nike's replenishment offering in North America. The modeling results confirm the hypothesis that multi-echelon inventory management offers little value to the current offshore supply chain. Sensitivity and scenario analysis is utilized to identify significant inventory drivers, areas for substantial improvement, and profitable opportunities for multi-echelon inventory management.
Author : Robert A. Davis
Publisher : John Wiley & Sons
ISBN 13 : 1119174023
Total Pages : 320 pages
Book Rating : 4.1/5 (191 download)
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.
Author : Benjamin Michael Polak
Publisher :
ISBN 13 :
Total Pages : 69 pages
Book Rating : 4.:/5 (891 download)
Download or read book Multi-echelon Inventory Strategies for a Retail Replenishment Business Model written by Benjamin Michael Polak and published by . This book was released on 2014 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mission of the Always Available retail replenishment business at NIKE is to ensure consumer-essential products are in-stock at retailers at all times. To achieve this goal, NIKE has developed a forecast-driven, make-to-stock supply chain model which allows retailers to place weekly orders to an on-hand inventory position in a distribution center. The challenge facing the business is how to design an inventory strategy that achieves a high level of service to its customers while minimizing inventory holding cost. Specifically, safety stock holding cost is targeted as it accounts for the majority of on-hand inventory and can be reduced without significantly impacting the underlying supply chain architecture. This thesis outlines the application of multi-echelon inventory optimization in a retail replenishment business model. This technique is used to determine where and how much safety stock should be staged throughout the supply chain in order to minimize safety stock holding cost for a fixed service level. Provided a static supply chain network, the ideal safety stock locations and quantities which result in minimal total safety stock holding cost is determined. For this business, the optimal solution is to stage lower-cost component materials with long supplier lead times and high commonality across multiple finished goods at the manufacturer in addition to finished goods at the distribution centers. Safety stock holding cost reduction from component staging increases significantly when the distance between manufacturers and the distribution center decreases and for those factories producing a variety of finished goods made from the same component materials due to inventory pooling. Forecast accuracy drives the quantity of safety stock in the network. The removal of low volume, highly unpredictable products from the portfolio yields significant inventory holding cost savings without a detrimental impact to revenue. By deploying the optimal safety stock staging solution and by removing unpredictable products, this analysis shows that finish goods safety stock inventory would be reduced by 35% for the modeling period (calendar year 2012) while only decreasing topline revenue by 5%.
Author : Patrick Allen Johnson
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (1 download)
Download or read book Developing a Long Term Strategy for a Warehouse Network written by Patrick Allen Johnson and published by . This book was released on 2017 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis addresses the question of how to create a pro-active, long term, network centric warehouse strategy. This thesis will present an inventory model built to understand the capacity needs of Amgen's warehouses over the time period of 2017-2023 to support this mission, along with recommendations based on scenario analysis from this model to analyze and quantify the impacts of multiple scenarios in support of an efficient, effective, nimble supply chain. With worldwide operations supporting a global customer base, Amgen's operational philosophy is to ensure serving "every patient, every time". Amgen's warehouses play a vital role with this mission, storing raw materials to ensure production with safety stock and various levels of Work in Progress (WIP) based not only on operational safety stock, but also strategic safety stock to ensure demand is always met, even with unforeseen risks. In order to understand the impacts of growth on warehouse utilization, a relational database inventory model was created and linked to the long range forecast of supply and demand. This inventory model linked the Bill of Materials (BOMs) to the product forecast in order to to understand the quantity of raw materials required to meet the supply. The database also calculates the WIP and finished product levels of Amgen's products. This model considers inefficiencies in the warehouses, as warehouse pallet spaces do not always store the maximum capacity of the material. This inventory model calculated the capacity required for each warehouse over the forecasted ranges of FY 2016 to FY 2023. The findings of this model were used to create Amgen's long term warehouse strategy. The model demonstrated a +- 10% accuracy to 2017 planning. We developed a strategy that mimics Amgen's operational strategy. Amgen's operational strategy is to reduce fixed costs, and focus on flexibility with variable based costs. Based on this, we found the best strategy was to work with 3rd party logistics providers (3PLs) to mitigate the capacity gaps in a variable based manner. This option is preferred over investing in expanding capacity at warehouses already in use for all three scenarios of optimistic, baseline, and pessimistic demand profiles. The biggest lever to gain warehouse capacity is to improve inventory policies and the flow of communication. Inventory policies whose aim is to reduce inventory can be viewed as a sensitive topic at a company like Amgen. But, if done in a scientific manner, and moving from a Months on Hand (MOH) approach to a scientifically calculated inventory, then moving to a multi-echelon inventory optimization, inventory and risk can be reduced. The following are ways that can be used to reduce inventory and risks. -- Track forecast error to understand variation of demand -- Lead time reduction of raw materials and work in progress -- Risk Pool Drug Product (DP) "nude" vials and decrease lead time from DP to customer -- Re-order point frequency increases -- Reduction of demand variability through: -- -- Better communication of demand forecasts between marketing, global supply chain and site supply chain teams. -- -- Reducing variability of manufacturing planning -- Seek commonality of raw materials to lower safety stock levels -- Multi-Echelon Inventory Optimization By accomplishing these activities, Amgen has a scope to reduce 3PL storage requirements by 20k pallet-year spaces over the same time period. This will lower the expense of 3PL costs, and overall risks, over the same time period by $11 M. Considerable work will have to be accomplished, but the benefits will outweigh the costs.
Author : Lin He
Publisher :
ISBN 13 : 9781303914799
Total Pages : 127 pages
Book Rating : 4.9/5 (147 download)
Download or read book Multi-Echelon Inventory Optimization and Demand-Side Management: Models and Algorithms written by Lin He and published by . This book was released on 2014 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Next we study another basic inventory network structure, a distribution system. We study continuous-review, multi-echelon distribution systems subject to supply disruptions, with Poisson customer demands under a first-come, first-served allocation policy. We develop a recursive optimization heuristic, which applies a bottom-up approach that sequentially approximates the base-stock levels of all the locations. Our numerical study shows that it performs very well.
Author : International Business Machines Corporation. Research Division. (IBMRD)
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (423 download)
Download or read book Implementing a multi-echelon inventory system at a semiconductor company written by International Business Machines Corporation. Research Division. (IBMRD) and published by . This book was released on 1999 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: "We develop an inventory allocation model for the use in the semiconductor industry. The model allows for multi-echelon, multi-item optimization. The objective is to maximize the system-wide serviceability subject to constraints on inventory holding cost, allowing consideration of both build-to-order and build-to-stock finished good items. The key components of the model are an approximate method for performance evaluation and a two-phased optimization algorithm, combining heuristics with nonlinear optimization. The model allows for fast decisions when applied to supply networks of upwards of one thousand stocking locations. Results from implementation at Xilinx, Inc., show dramatic improvements in performance over current inventory policies."
Author : Deepak Avari
Publisher :
ISBN 13 :
Total Pages : 150 pages
Book Rating : 4.:/5 (497 download)
Download or read book Inventory Positioning for a Multi-echelon Distribution Network written by Deepak Avari and published by . This book was released on 2009 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis presents a framework for deciding which products to centralize in a regional distribution center and which products to store decentralized close to the customer sites, for each facility in a multi-echelon distribution network. Our research specifically focuses on developing an optimization model to determine the inventory positioning strategy that minimizes total costs. The model considers both inbound and outbound transportation costs along with inventory holding costs at all facilities in the network. The total cost and responsiveness of the optimal solution are compared with the baseline network, in which inventory is completely decentralized. Our analysis is performed using several products that have diverse characteristics, in terms of demand patterns, lead-times, product costs, service-level requirements, transportation modes, and supplier locations. A sensitivity analysis is performed to study how a variance in these parameters affects the optimal solution. The research suggests that for high volume commodity items the benefits of centralization are highly dependent upon the degree of lane consolidation. However, for low volume specialty items, centralization can provide immediate benefits with no change to the existing transportation network.
Author : John T. Mentzer
Publisher : SAGE
ISBN 13 : 9780761921110
Total Pages : 530 pages
Book Rating : 4.9/5 (211 download)
Download or read book Supply Chain Management written by John T. Mentzer and published by SAGE. This book was released on 2001 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work presents a comprehensive model of supply chain management. Experienced executives from 20 companies clearly define supply chain management, identifying those factors that contribute to its effective implementation. They provide practical guidelines on how companies can manage supply chains, addressing the role of all the traditional business functions in supply chain management and suggest how the adoption of a supply chain management approach can affect business strategy and corporate performance.
Author : Josef Svoboda
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
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.
Author : Patrick James Scott
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (11 download)
Download or read book Multi-echelon Inventory Modeling and Supply Redesign written by Patrick James Scott and published by . This book was released on 2017 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many businesses struggle to optimize the flow of inventory and finished goods through existing plants and facilities. The integration of inventory costs, organizational processes, and changing business dynamics make it difficult to determine the optimal flow. This thesis examines the flow of raw materials and finished goods through the supply chain of a multi-national oilfield services company. We study a centralized inventory approach, assessed through heuristics, against the existing decentralized approach. Sensitivity analysis with regard to service level, and mode of transport strengthened the analysis. We show that demand aggregation and lead time are important factors in determining the upper echelon for a company's internal distribution model. Potential safety stock reduction is 2%, which is mainly due to the improved coordination for materials flowing to the final echelon in the supply chain. However, pipeline inventory increases by 12% as a result of longer lead times.
Download or read book Assessing the Impact of Strategic Safety Stock Placement in a Multi-echelon Supply Chain written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to develop prescriptions for strategically placing safety stocks in an arborescent supply chain in which there are moderate to severe risks of disruptions in supply. Our work builds off of recently published work by Graves and Willems (2003) that demonstrates that a simple-to-compute, congestion-based adjustment to supply lead times, first developed by Ettl et al. (2000), can be embedded in a non-linear optimization problem to minimize total investment in safety stock across the entire supply chain. We are interested in investigating how the Graves and Willems (GW) model performs under uncertainty in supply. We first propose an adjustment to the model (Mod-GW) by considering two types of fulfillment times, a normal fulfillment time and a worst possible fulfillment time, which allows us to account for supply uncertainty, or disruptions in supply. We evaluate the performance of GW and Mod-GW using Monte Carlo simulation and, using motivation from Timed-Petri Net analysis, develop an Informed Safety Stock Adjustment (ISSA) algorithm to compute the additional buffer stock levels necessary to improve downstream service performance to the target level. We find that the service performance of the Mod-GW solution is most sensitive to the probability of disruption at any node in the supply chain, requiring higher safety stock adjustments through ISSA as this probability increases. In particular, the relative value of the holding costs for components and finished goods--and the resulting impact on where safety stock is held in the network--is an important moderating factor in determining the level of service performance degradation of the Mod-GW solution as either, the probability of disruption at node j, or, the ratio of the disrupted and normal lead times, increases (i.e., as disruptions exert more impact on the network). The Informed Safety Stock Adjustment algorithm generally suggests a sufficient complementary amount to the saf.
Author : Rintiya Arkaresvimun
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.:/5 (31 download)
Download or read book Inventory Optimization in a Retail Multi-echelon Environment written by Rintiya Arkaresvimun and published by . This book was released on 2008 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the study is to find an optimal inventory distribution in a retail three-echelon environment, consisting of a supplier, a DC, and stores. An inventory model is built by replicating the echelons' periodic, order-up-to-level policies with all echelons' transactions integrated. Network carrying cost is set as an objective function, while the store target service level and the store's minimum order-up-to-levels are set as constraints. A heuristic approach, that combines the optimization and simulation methods, is used to find the optimal inventory distribution. The results show that the optimal network carrying cost can be achieved by having low inventory and low service level at the DC. In addition, the impact of the echelons' deviations from the optimal policies as well as the impact of the upstream echelon's service disruptions on the other echelons confirms the interrelation between the echelons in the network. The analyses also illustrate that high target service level can be accomplished by keeping high inventory at the stores and the DC.
Author : Nita H. Shah
Publisher : Springer Nature
ISBN 13 : 9811396981
Total Pages : 470 pages
Book Rating : 4.8/5 (113 download)
Download or read book Optimization and Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2019-08-31 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
Author : Michael Watson
Publisher : Pearson Education
ISBN 13 : 0133017370
Total Pages : 320 pages
Book Rating : 4.1/5 (33 download)
Download or read book Supply Chain Network Design written by Michael Watson and published by Pearson Education. This book was released on 2013 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction and basic building blocks. Adding costs to two echelon supply chains. Advanced modeling and expanding to multiple echelons. How to get industrial streng results. Case study wrap up.
Author : Stefan Minner
Publisher : Springer Science & Business Media
ISBN 13 : 3642582966
Total Pages : 221 pages
Book Rating : 4.6/5 (425 download)
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.
