Download or read book A Multi Product Joint Ordering Model with Dependent Setup Cost written by Chung-Mei Ho Chern and published by . This book was released on 1971 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: A multi product, continuous review inventory model with dependent setup cost is studied and a joint ordering policy is defined. The development of the model is based on te independent (R, Q) policy. A can order point is derived for each product such that if the inventory level of one product drops to its reorder point, all products with inventory level less than or equal to their can order points are ordered together. The analytic results are given for the unit Poisson demands. Simulation experiments are used to compare the joint ordering policy with the independent ordering policy for the case of Stuttering Poisson demands. It is learned that the joint ordering policy achieves a substantial saving in total cost over the independent ordering policy. (Author).
Download or read book Dynamic Multi Product Procurement with Joint and Individual Setup Costs written by Xiangyin Kong and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In practice, it is common, especially for online retailers, to bundle different products together during procurement to save transportation and handling costs. It is important to understand and theorize how to manage dynamic procurement by taking advantage of joint ordering in the presence of joint and individual setup costs. We characterize the structure of optimal policy for a periodic review multi-product inventory system with multiple setup costs, including a joint setup cost and individual setup costs for each product. By proposing the notion of ($ mathcal K, bm eta$)-quasi-convexity, we show that an optimal procurement policy for such a system follows the so-called ($ sigma, omega, bm S$) policy when demands are stochastically increasing over time: order upto $ bm S$ for states in the region $ sigma$, do not order for states in the region $ omega$, and order certain quantities for states neither in $ sigma$ nor in $ omega$. We also obtain ordering monotonicity properties that characterize the structure of the optimal policy, and we provide some bounds for the parameters of the optimal policy. Our results can also accommodate inter-product demand correlation, such as customer choice for different products. Leveraging these operational insights, we propose three simple heuristic policies: the independent ($ bm s, bm S$) policy, vector($ bm s, bm S$) policy and linear interpolation ($ bm s, bm S$) policy. Extensive numerical experiments indicate that the linear interpolation ($ bm s, bm S$) policy outperforms the other two heuristics, with the performance gap being less than 3.5% on average and only 0.5% in some cases. Finally, we show that how our results can be extended to systems with more complex setup cost functions, such as time-varying, set-based, and quantity-dependent setup costs.
Download or read book Naval Research Logistics Quarterly written by and published by . This book was released on 1974 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Management Science written by and published by . This book was released on 1999-08 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
Download or read book Integer Programming and Related Areas written by R.v. Randow and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Production and Inventory Control Model for a Multi commodity System with Probabilistic Demand and Interacting Set up Cost written by B. D. Sivazlian and published by . This book was released on 1967 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The characteristics of a multi-product production and inventory system with probabilistic demand and interdependency in the set-up cost are studied over a single period, and optimal ordering policies for inventory replenishment are derived. Three cost elements are assumed to affect the operation of the system: a production cost, a holding cost and a penalty cost. The fixed component of the production cost, i.e., the set-up cost, will, in general, depend on whether an individual ordering policy, a partial joint ordering policy or a total joint ordering policy from production is used. In general, for an n-commodity system, one can define the optimal strategies over a policy space in E superscript n. This concept is illustrated for n = 2. Thus, depending on the initial stock level of the items either of the four following alternatives is possible: (a) produce the first item only; (b) produce the second item only; (c) produce both items simultaneously; (d) do not produce anything. The general problem is clearly equivalent to a multi-commodity, multi-warehouse system supplied by a single source. (Author).
Download or read book Handbook of Research on Promoting Business Process Improvement Through Inventory Control Techniques written by Shah, Nita H. and published by IGI Global. This book was released on 2017-12-22 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock management and control is a critical element to the success and overall financial well-being of an organization. Through the application of innovative practices and technology, businesses are now able to effectively monitor their operations and manage their inventory by evaluating sales patterns and customer preferences. The Handbook of Research on Promoting Business Process Improvement Through Inventory Control Techniques is a critical scholarly resource that examines optimization techniques, data mining concepts, and genetic algorithms to manage inventory control. Featuring coverage on a broad range of topics such as logistics and supply chain management, stochastic inventory modelling, and inventory management in healthcare, this book is geared towards academicians, practitioners, and researchers seeking various research methods to get optimal ordering policy.
Download or read book Annual Department of Defense Bibliography of Logistics Studies and Related Documents written by United States. Defense Logistics Studies Information Exchange and published by . This book was released on 1970 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by Oxford University Press (UK). This book was released on 2012-06-07 with total page 977 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive reference to the theory and practice of pricing across industries, environments, and methodologies. It covers all major areas of pricing including, pricing fundamentals, pricing tactics, and pricing management.
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
Download or read book Application of Optimization in Production Logistics Inventory Supply Chain Management and Block Chain written by Biswajit Sarkar and published by MDPI. This book was released on 2020-04-23 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evolution of industrial development since the 18th century is now experiencing the fourth industrial revolution. The effect of the development has propagated into almost every sector of the industry. From inventory to the circular economy, the effectiveness of technology has been fruitful for industry. The recent trends in research, with new ideas and methodologies, are included in this book. Several new ideas and business strategies are developed in the area of the supply chain management, logistics, optimization, and forecasting for the improvement of the economy of the society and the environment. The proposed technologies and ideas are either novel or help modify several other new ideas. Different real life problems with different dimensions are discussed in the book so that readers may connect with the recent issues in society and industry. The collection of the articles provides a glimpse into the new research trends in technology, business, and the environment.
Download or read book Government Reports Announcements written by and published by . This book was released on 1971 with total page 1366 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Logic of Logistics written by David Simchi-Levi and published by Springer Science & Business Media. This book was released on 2013-11-19 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fierce competition in today's global market provides a powerful motivation for developing ever more sophisticated logistics systems. This book, written for the logistics manager and researcher, presents a survey of the modern theory and application of logistics. The goal of the book is to present the state-of-the-art in the science of logistics management. As a result, the authors have written a timely and authoritative survey of this field that many practitioners and researchers will find makes an invaluable companion to their work.
Download or read book Department of Defense Catalog of Logistics Models written by and published by . This book was released on 1990 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Industrial Engineering written by Bopaya Bidanda and published by CRC Press. This book was released on 2019-02-13 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Engineering: Management, Tools, and Applications, Three Volume Set provides innovation applications and case studies that are drawn from multiple countries. The chapters in the books represent the best papers from the International Institute of Industrial Engineering (IIIE) Conference held in Istanbul in June 2013, sponsored by the II
Download or read book Industrial Engineering Applications in Emerging Countries written by Ihsan Sabuncuoglu and published by CRC Press. This book was released on 2015-01-09 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second volume of a three-volume series on global logistics management, this book focuses on recent developments and implementations of operations research techniques on selected logistic problems in emerging countries. The book covers topics ranging from quality management in pharmaceutical supply chains to risk analysis of maritime ports and i
Download or read book Data Analytics and Artificial Intelligence for Inventory and Supply Chain Management written by Dinesh K. Sharma and published by Springer Nature. This book was released on 2022-11-08 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers new analytics and AI approaches in the areas of inventory control, logistics, and supply chain management. It provides valuable insights for the retailers and managers to improve business operations and make more realistic and better decisions. It also offers a number of smartly designed strategies related to inventory control and supply chain management for the optimal ordering and delivery policies. The book further uses detailed models and AI computing approaches for demand forecasting to planning optimization and digital execution tracking. One of its key features is use of real-life examples, case studies, practical models to ensure adoption of new solutions, data analytics, and AI-lead automation methodologies are included.The book can be utilized by retailers and managers to improve business operations and make more accurate and realistic decisions. The AI-based solution, agnostic assessment, and strategy will support the companies for better alignment and inventory control and capabilities to create a strategic road map for supply chain and logistics. The book is also useful for postgraduate students, researchers, and corporate executives. It addresses novel solutions for inventory to real-world supply chain and logistics that retailers, practitioners, educators, and scholars will find useful. It provides the theoretical and applicable subject matters for the senior undergraduate and graduate students, researchers, practitioners, and professionals in the area of artificial intelligent computing and its applications in inventory and supply chain management, inventory control, and logistics.
