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Assessing The Impact Of Strategic Safety Stock Placement In A Multi Echelon Supply Chain
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Book Synopsis Assessing the Impact of Strategic Safety Stock Placement in a Multi-echelon Supply Chain by : Elena Alexandrovna Bryksina
Download or read book Assessing the Impact of Strategic Safety Stock Placement in a Multi-echelon Supply Chain written by Elena Alexandrovna Bryksina and published by . This book was released on 2005 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keywords: risk and safety stock, safety stock placement, supply uncertainty, disruptions in supply chain.
Book Synopsis Assessing the Impact of Strategic Safety Stock Placement in a Multi-echelon Supply Chain by :
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.
Book Synopsis Strategic Inventory Placement in Multi-echelon Supply Chains by : Tor Ivar Schoenmeyr
Download or read book Strategic Inventory Placement in Multi-echelon Supply Chains written by Tor Ivar Schoenmeyr and published by . This book was released on 2008 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: (cont.) In a case study, we obtained data from the supply chain of an electronic test system, as well as characterized the forecasting process. We found that incorporating the forecast process led to 25% reduction of safety stocks.
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.
Book Synopsis Operations Research Applications by : A. Ravi Ravindran
Download or read book Operations Research Applications written by A. Ravi Ravindran and published by CRC Press. This book was released on 2008-11-12 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: As operations research (OR) applications continue to grow and flourish in a number of decision making fields, a reference that is comprehensive, concise, and easy to read is more than a nicety, it is a necessity. This book provides a single volume overview of OR applications in practice, making it the first resource a practitioner would reach for w
Book Synopsis Inventory Placement by : Albert Lopez Pagola
Download or read book Inventory Placement written by Albert Lopez Pagola and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The amount of safety stock to hold at each stage in a supply chain is an important problem for a manufacturing company that faces uncertain demand and needs to provide a high level of service to its customers. The amount of stock held should be small to minimize holding and storage costs while retaining the ability to serve customers on time and satisfy most, if not all, of the demand. This thesis discusses the issue of safety stock placement in a supply chain. This problem is modelled as nonlinear optimization problem. In a first step, the thesis examines possible linearization of this objective function and computes the errors. The work is then extended to the capacitated case. It is organized in five chapters. First of all, there is an introduction explaining the motivations to develop the thesis and to familiarize with inventory placement issue. Second chapter consists in a literature review of research already done and a brief explanation of nomenclature and assumptions. It is important to differentiate between networks without capacity constraints and networks with. Third chapter explains the methods developed by myself. Then, fourth chapter mentions the numerical experiments done, results and a deep analysis. Finally, fifth chapter includes conclusions and achievements obtained with this research.
Book Synopsis Logistics of Production and Inventory by : S.C. Graves
Download or read book Logistics of Production and Inventory written by S.C. Graves and published by Elsevier. This book was released on 1993-05-27 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook
Book Synopsis A Quantitative Analysis of Disruption Risk in a Multi-Echelon Supply Chain by : Amanda J. Schmitt
Download or read book A Quantitative Analysis of Disruption Risk in a Multi-Echelon Supply Chain written by Amanda J. Schmitt and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We demonstrate how system resilience can be improved by focusing on a supply chain network as a whole. We analyze inventory placement and back-up methodologies in a multi-echelon network and view their effect on reducing supply chain risk. We focus on risk from both supply disruptions and demand uncertainty and compare their impacts and mitigating strategies. A simulation model developed to capture an actual network for a consumer packaged goods company is used for the analysis. We present analysis and insights for multi-echelon networks and show how network utilization and proactive planning enable reductions in supply chain disruption impact.
Book Synopsis Study of the Impact of Safety Stock Placement on Shifting Bottleneck Stages in Capacitated Supply Chains by : Karthik Balakrishnan
Download or read book Study of the Impact of Safety Stock Placement on Shifting Bottleneck Stages in Capacitated Supply Chains written by Karthik Balakrishnan and published by . This book was released on 2009 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncertainty in a modern supply chain structure originates at the supplier, manufacturing process and the consumer. Different types of products and supply chain structures add to the complexity of managing a supply chain. Safety stock in a supply chain acts like a shock absorber against these uncertainties. Current safety stock models are very effective in tackling strategic level problems, however are inept to understand the relation between the placement of safety stock in a supply chain and tactical level uncertainties. A bottleneck in a supply chain determines the capability of a supply chain. The shifting of stage bottlenecks is tactical level uncertainty. This thesis addresses the impact of placement of safety stock on shifting bottleneck stages. Simulation models establish the effects of varying stock levels on shifting bottleneck stages in capacitated assembly environment.
Book Synopsis Optimizing Safety Stock Placement in General Network Supply Chains by : Ekaterina Lesnaia
Download or read book Optimizing Safety Stock Placement in General Network Supply Chains written by Ekaterina Lesnaia and published by . This book was released on 2004 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: The amount of safety stock to hold at each stage in a supply chain is an important problem for a manufacturing company that faces uncertain demand and needs to provide a high level of service to its customers. The amount of stock held should be small to minimize holding and storage costs while retaining the ability to serve customers on time and satisfy most, if not all, of the demand. This thesis analyzes this problem by utilizing the framework of deterministic service time models and provides an algorithm for safety stock placement in general-network supply chains. We first show that the general problem is NP-hard. Next, we develop several conditions that characterize an optimal solution of the general-network problem. We find that we can identify all possible candidates for the optimal service times for a stage by constructing paths from the stage to each other stage in the supply chain. We use this construct, namely these paths, as the basis for a branch and bound algorithm for the general-network problem. To generate the lower bounds, we create and solve a spanning-tree relaxation of the general-network problem. We provide a polynomial algorithm to solve these spanning tree problems. We perform a set of computational experiments to assess the performance of the general-network algorithm and to determine how to set various parameters for the algorithm. In addition to the general network case, we consider two-layer network problems. We develop a specialized branch and bound algorithm for these problems and show computationally that it is more efficient than the general-network algorithm applied to the two-layer networks.
Book Synopsis Integrated Modelling for Supply Chain Planning and Multi-Echelon Safety Stock Optimization in Manufacturing Systems by : Abdullah Yahia M. Alfaify
Download or read book Integrated Modelling for Supply Chain Planning and Multi-Echelon Safety Stock Optimization in Manufacturing Systems written by Abdullah Yahia M. Alfaify and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimizing supply chain is the most successful key for manufacturing systems to be competitive. Supply chain (SC) has gotten intensive research works at all levels: strategic, tactical, and operational levels. These levels, in some researches, have integrated with each other or integrated with other planning issues such as inventory. Optimizing inventory location and level of safety stock at all supply chain partners is essential in high competitive markets to manage uncertain demand and service level. Many works have been developed to optimize the location of safety stock along supply chain, which is important for fast response to fluctuation in demand. However, most of these studies focus on the design stage of a supply chain. Because demand at different horizon times may vary according to different reasons such as the entry of different competitors on market or seasonal demand, safety stock should be optimized accordingly. At the planning (tactical) level, safety stock can be controlled according to each planning horizon to satisfy customer demand at lower cost instead of being fixed by a decision taken at the strategic level. On the other hand, most studies that consider safety stock optimization are tied to a specific system structure such as serial, assembly, or distribution structure. This research focuses on formulating two different models. First, a multi- echelon safety stock optimization (MESSO) model for general supply chain topology is formulated. Then, it is converted into a robust form (RMESSO) which considers all possible fluctuation in demand and gives a solution that is valid under any circumstances. Second, the safety stock optimization model is integrated with tactical supply chain planning (SCP) for manufacturing systems. The integrated model is a multi-objective mixed integer non-linear programming (MINLP) model. This model aims to minimize the total cost and total time. A case study for each model is provided and the numerical results are analyzed.
Book Synopsis Supply Chain Structures by : Jing-Sheng Song
Download or read book Supply Chain Structures written by Jing-Sheng Song and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the foreword to Supply Chain Structures, Professor Paul Zipkin notes three global changes that have enabled the recent vast developments in the field of supply chains. Moreover, these changes may be only the beginning and more change is likely in the fast-moving field of supply chain management. These global changes are: the explosive growth of the Internet; the growth in free-market economies with the corresponding political interest in global economic stability; and the emergence of a global managerial culture focused on performance, quality, and service. Professor Zipkin goes on to say "In Supply Chain Structures, the editors Jeannette Song and David Yao have collected a spectrum of approaches to these challenges from some of the leading scholars of supply chains, from both the academic and commercial worlds. Each of the articles offers an interesting and illuminating way to think about the key issues in supply chain management. Some also offer practical techniques to solve important problems. Together they provide an excellent survey of the current state of the art in research and practice."
Book Synopsis Supply Chain Engineering by : A. Ravi Ravindran
Download or read book Supply Chain Engineering written by A. Ravi Ravindran and published by CRC Press. This book was released on 2023-08-30 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition textbook continues down the path that the first edition, winner of the 2013 IISE/Joint Publishers Book-of-the-Year Award, successfully carved out. The textbook targets engineering students and emphasizes the use of operations research models and solution methods important in the design, control, operation, and management of global supply chains. Completely updated, Supply Chain Engineering: Models and Applications, Second Edition stresses quantitative models and methods, highlights global supplier selection and vendor risk management techniques, and discusses the use of multiple criteria decision-making models in supply chain management. The new edition includes chapters on health and humanitarian supply chains, including disaster management and logistics modeling, and on warehousing and distribution. Disruptions to global supply chains due to the COVID-19 pandemic are discussed throughout the book. Industry and government strategies to make the global supply chains resilient are also presented. Thirty four case studies have been included to illustrate various supply chain models and methods. Exercises are included at the end of each chapter, and a solutions manual and PowerPoint slides are available for qualified textbook adoptions. The new edition continues to target upper-level undergraduate and graduate students in engineering, as well as MBA students in operations management, logistics, and supply chain management programs that emphasize quantitative analysis. It is also useful as a reference for technical professionals and researchers in industrial engineering, supply chain management, procurement, logistics and health administration.
Book Synopsis On Replenishment Rules, Forecasting, and the Bullwhip Effect in Supply Chains by : Stephen M. Disney
Download or read book On Replenishment Rules, Forecasting, and the Bullwhip Effect in Supply Chains written by Stephen M. Disney and published by Now Publishers Inc. This book was released on 2008 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this review we focus on supply coordination and use the bullwhip effect as the key example of supply chain inefficiency. We emphasize the managerial relevance of the bullwhip effect and the methodological issues so that both managers and researchers can benefit.
Book Synopsis Advances in Production Management Systems. Artificial Intelligence for Sustainable and Resilient Production Systems by : Alexandre Dolgui
Download or read book Advances in Production Management Systems. Artificial Intelligence for Sustainable and Resilient Production Systems written by Alexandre Dolgui and published by Springer Nature. This book was released on 2021-09-01 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: The five-volume set IFIP AICT 630, 631, 632, 633, and 634 constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2021, held in Nantes, France, in September 2021.* The 378 papers presented were carefully reviewed and selected from 529 submissions. They discuss artificial intelligence techniques, decision aid and new and renewed paradigms for sustainable and resilient production systems at four-wall factory and value chain levels. The papers are organized in the following topical sections: Part I: artificial intelligence based optimization techniques for demand-driven manufacturing; hybrid approaches for production planning and scheduling; intelligent systems for manufacturing planning and control in the industry 4.0; learning and robust decision support systems for agile manufacturing environments; low-code and model-driven engineering for production system; meta-heuristics and optimization techniques for energy-oriented manufacturing systems; metaheuristics for production systems; modern analytics and new AI-based smart techniques for replenishment and production planning under uncertainty; system identification for manufacturing control applications; and the future of lean thinking and practice Part II: digital transformation of SME manufacturers: the crucial role of standard; digital transformations towards supply chain resiliency; engineering of smart-product-service-systems of the future; lean and Six Sigma in services healthcare; new trends and challenges in reconfigurable, flexible or agile production system; production management in food supply chains; and sustainability in production planning and lot-sizing Part III: autonomous robots in delivery logistics; digital transformation approaches in production management; finance-driven supply chain; gastronomic service system design; modern scheduling and applications in industry 4.0; recent advances in sustainable manufacturing; regular session: green production and circularity concepts; regular session: improvement models and methods for green and innovative systems; regular session: supply chain and routing management; regular session: robotics and human aspects; regular session: classification and data management methods; smart supply chain and production in society 5.0 era; and supply chain risk management under coronavirus Part IV: AI for resilience in global supply chain networks in the context of pandemic disruptions; blockchain in the operations and supply chain management; data-based services as key enablers for smart products, manufacturing and assembly; data-driven methods for supply chain optimization; digital twins based on systems engineering and semantic modeling; digital twins in companies first developments and future challenges; human-centered artificial intelligence in smart manufacturing for the operator 4.0; operations management in engineer-to-order manufacturing; product and asset life cycle management for smart and sustainable manufacturing systems; robotics technologies for control, smart manufacturing and logistics; serious games analytics: improving games and learning support; smart and sustainable production and supply chains; smart methods and techniques for sustainable supply chain management; the new digital lean manufacturing paradigm; and the role of emerging technologies in disaster relief operations: lessons from COVID-19 Part V: data-driven platforms and applications in production and logistics: digital twins and AI for sustainability; regular session: new approaches for routing problem solving; regular session: improvement of design and operation of manufacturing systems; regular session: crossdock and transportation issues; regular session: maintenance improvement and lifecycle management; regular session: additive manufacturing and mass customization; regular session: frameworks and conceptual modelling for systems and services efficiency; regular session: optimization of production and transportation systems; regular session: optimization of supply chain agility and reconfigurability; regular session: advanced modelling approaches; regular session: simulation and optimization of systems performances; regular session: AI-based approaches for quality and performance improvement of production systems; and regular session: risk and performance management of supply chains *The conference was held online.
Book Synopsis Design and Operation of Production Networks for Mass Personalization in the Era of Cloud Technology by : Dimitris Mourtzis
Download or read book Design and Operation of Production Networks for Mass Personalization in the Era of Cloud Technology written by Dimitris Mourtzis and published by Elsevier. This book was released on 2021-11-10 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Design and Operation of Production Networks for Mass Personalization in the Era of Cloud Technology draws on the latest industry advances to provide everything needed for the effective implementation of this powerful tool. Shorter product lifecycles have increased pressure on manufacturers through the increasing variety and complexity of production, challenging their workforce to remain competitive and profitable. This has led to innovation in production network methodologies, which together with opportunities provided by new digital technologies has fed a rapid evolution of production engineering that has opened new solutions to the challenges of mass personalization and market uncertainty. In addition to the latest developments in cloud technology, reference is made to key enabling technologies, including artificial intelligence, the digital twin, big data analytics, and the internet of things (IoT) to help users integrate the cloud approach with a fully digitalized production system. Presents diverse cases that show how cloud-based technologies can be used in different ways as part of the standard operation of global production networks Provides detailed reviews of new technologies like the digital twin, big data analytics, and blockchain to provide context on the role of cloud technologies in a fully digitalized system Explores future trends for cloud technology and production engineering
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-04 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt:
