Download or read book Development of a Joint Order Inventory Model written by Harish Laxminarayan Verma and published by . This book was released on 1970 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Development of Location inventory Model Based on All unit Quantity Discount Policy written by Zahra Firoozi and published by . This book was released on 2011 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distribution network design is one of the main issues in supply chain management. Two key decisions that must be determined to design a distribution network are facility allocation decisions and inventory control decisions. Despite the interaction exists between these two decisions, traditional methods ignored simultaneously optimizing them in a supply chain. Therefore, the obtained results are expected to be suboptimal in many situations. To deal with this problem, in recent years, joint location-inventory models are developed to simultaneously determine the inventory control decisions and facility locations decision of a distribution network. Majority of the previous joint location-inventory models considered the simplest inventory model that is economic order quantity (EOQ) to replenish the demands of retailers. However, a very common policy offered by suppliers is quantity discount that provides the buyers the opportunity of purchasing in larger quantities and reducing their total cost. When quantity discount is available the buyers need to trade-off between reduction in purchasing and ordering cost and increase in the inventory cost in order to find the optimal order quantity. However, EOQ (Q, r) model is not capable of doing such comparison and the buyers need to apply quantity discount models to find the optimal order quantity. Nevertheless, so far quantity discount has not been considered as inventory policy in joint location-inventory models. Thus, this research has formulated and solved a joint location-inventory problem, while all-unit quantity discount is considered as the inventory policy of distribution network. In order to solve the model, two heuristics and one enumeration algorithm are developed. It is shown that considering quantity discount instead of EOQ policy saves the total cost up to 4.5%. In addition, the network configurations are hown to be different under two policies. To investigate the performance of the developed heuristic algorithms, results of the heuristics in terms of total cost and computational time (CPU time) are compared with results obtained by enumeration algorithm and results obtained by Lingo 12.0 software. Results of the developed heuristics are up to 92% betters that the results that the enumeration algorithm find in 24 hours, and 88% better than the results obtained by Lingo.

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 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.

Download or read book A Dynamic Supply Chain Inventory Model Considering Supplier Selection Joint Replenishment and Transportation Cost written by Chenxi Li and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Companies currently face fierce global competition and so they must improve their supply chain efficiency. The development of appropriate decision support tools is important to enable such improvements. The thesis presents a multi-period inventory lot-sizing model for multiple products in a serial supply chain, where raw materials are purchased from multiple suppliers at the first stage, and external demand from vendors occurs at the last stage. Joint replenishment is considered when ordering raw materials. The demand is known and may change from period to period. Stages of this production-distribution serial structure correspond to inventory locations. The first two stages stand for storage areas holding raw materials and finished products in a manufacturing facility; additional intermediate stages represent either manufacturing facilities or centralized warehouses. The last stage is a distribution center that directly serves customer demand. The problem is modeled as a time-expanded transshipment network, which is defined by the nodes and arcs that can be reached by feasible material flows. At first, an integrated approach model aimed at minimizing total cost of the entire supply chain is developed to determine dynamic supplier selection and inventory planning policy at the same time. In addition, a sequential approach model is developed so that inventory planning policy is solved first, and supplier selection strategy is obtained according to that. A comparison between integrated and sequential approaches is shown in the thesis; sensitivity analysis on key factors for the integrated model is presented as well. Results show that total cost is reduced under integrated approach, while major and minor ordering costs, and transportation cost are important for supplier selection under the integrated approach.

Download or read book Nonlinear Programming written by Mordecai Avriel and published by Courier Corporation. This book was released on 2003-01-01 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: This overview provides a single-volume treatment of key algorithms and theories. Begins with the derivation of optimality conditions and discussions of convex programming, duality, generalized convexity, and analysis of selected nonlinear programs, and then explores techniques for numerical solutions and unconstrained optimization methods. 1976 edition. Includes 58 figures and 7 tables.

Download or read book Foundations of Stochastic Inventory Theory written by Evan L. Porteus and published by Stanford University Press. This book was released on 2002 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.

Download or read book Hearings Reports and Prints of the Joint Economic Committee written by United States. Congress. Joint Economic Committee and published by . This book was released on 1959 with total page 1354 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Design and Development of Knowledge Management for Manufacturing written by K. Ganesh and published by Springer Science & Business Media. This book was released on 2013-11-19 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the modules/elements required before implementing knowledge management solutions in typical manufacturing and service industry. The objective is to develop a framework, design and model suitable for all requirements and a strategy to properly implement. Related case studies from organizations are included, with the results provided to use as a solution to problems experienced when implementing knowledge management in the industry. Implementing a knowledge management system can be complex and dynamic, no matter how well planned and developed. Inevitably a degree of organizational inertia is focused on the current state rather than the new. Within an enterprise, personal and group involvement and interests process status and technology landscape can deflect the commitment needed to successfully implement such a system. Cumulative evidence from past research in knowledge management suggests that effective implementation of KM solution in any organization requires a robust designs and models for various critical elements of process, people and technology. Using the techniques provided in this book, readers should be able to design knowledge management strategies, to align objectives of the KM initiatives with their business goals.

Download or read book Government Reports Announcements written by and published by . This book was released on 1972 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Elements of Joint Learning and Optimization in Operations Management written by Xi Chen and published by Springer Nature. This book was released on 2022-09-20 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines recent developments in Operations Management, and focuses on four major application areas: dynamic pricing, assortment optimization, supply chain and inventory management, and healthcare operations. Data-driven optimization in which real-time input of data is being used to simultaneously learn the (true) underlying model of a system and optimize its performance, is becoming increasingly important in the last few years, especially with the rise of Big Data.

Download or read book Modelling Forest Systems written by A. Amaro and published by CABI. This book was released on 2003-01-01 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many theoretical approaches to modelling forest systems, but not all of them have valid practical applications. This book reviews current thinking on various models and presents applications in various contexts. Papers have been selected and developed from those presented at aworkshop held in Portugal in June 2002. Topics covered include: Forest reality and modelling strategies Mathematical approaches and reasoning Estimation processes Models, validation and decision under uncertainty Model archives and metadata

Download or read book Joint Optimization of Maintenance and Production Policies written by Nidhal Rezg and published by John Wiley & Sons. This book was released on 2014-05-09 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the recent work regarding the different approaches developed in the framework of the joint optimization of intelligent maintenance and production strategies. The originality of these strategies is that they take various constraints into account, including production management, subcontracting environmental degradation, inspection and product quality.

Download or read book An Evaluation of a Joint Replenishment Inventory Model with Random Demands written by Won Bong Kim and published by . This book was released on 1987 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers a joint replenishment inventory problem with a continuous-review (S, c, s) policy for the backorder case with Poisson demands and constant procurement lead times. Whenever item i's inventory level hits s sub i (reorder point) or lower it triggers an order so as to raise item i's level to S sub i (order up point). At the same time any other item j with inventory level at-or-below its can-order point c sub j is included in the replenishment. A Poisson demand model with a queueing description of the system's operation is analysed, and comparisons are conducted for joint versus individual orders in the case of multi-item problems, where joint replenishment of several items may reduce setup costs. Keywords: Theses; Mathematical models, Computer programs.

Download or read book Solution Approaches to the Stochastic Multi item Inventory System Under a Joint Order Constraint written by François Coblentz and published by . This book was released on 1975 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Coordinated Supplier Selection Inventory Replenishment and Pricing Decisions in Supply Chain Management written by Lisha Duan and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the popularity of inventory models with supplier selection, this research aims to develop mathematical models for the integrated procurement, inventory planning, and pricing problems in the presence of multiple capacitated suppliers and price-sensitive demand in supply chains, simultaneously determining the selling pricing and inventory policy under a variety of supply contracts. We starts with the development of an operational planning model in a demand-driven serial supply chain with multiple capacitated suppliers. Taking into account delivery time and order frequency, the suppliers offer a novel price break scheme, which is beneficial to both the supplier and the buyer. A mixed-integer linear programming (MILP) formulation is developed to address this dynamic supplier selection and inventory management model aiming at minimizing the overall incurred cost across the entire supply chain with capacity constraints in production, inventory, and transportation. Then, the length of the time period is considered as a variable. A new MILP formulation is derived when each period of the model is split into multiple sub-periods, and under certain conditions, it is proved that the optimal solution and objective value of the original model form a feasible solution and an upper bound for the derived model. Sufficient evidence demonstrates that the length of the time period has a significant influence on supplier selection, lot sizing allocation, and inventory planning decisions. Then, we investigate joint decision making of supplier selection, pricing, and inventory lot-sizing in a two-stage supply chain, where suppliers feature certain capacity and quality levels and the retailer faces a price-sensitive demand, characterized by the logit function. Multiple orders can be placed to potential suppliers within a repeating order cycle. The retailer purchases the items satisfying a lower bound on the average quality level to meet customer demand. In this context, we develop a mathematical model to find an optimal solution for the selling price and inventory replenishment policy, including the set of selected suppliers, order frequency, and order quantity. We further derive a lower bound on the optimal retail price and based on a two-stage piecewise linear approximation (PLA) technique, we develop heuristic algorithms to yield near-optimal solutions to the proposed model. Besides, we provide sufficient justification for the selection of the logit demand function as well as a comparison with other demand functions. A numerical study further suggests the importance of using a precise demand curve to select the set of suppliers, coordinate inventory, and accurately optimize the profit function. Next, we extend the joint pricing, supplier selection and inventory replenishment model to a serial supply chain with multiple stages in a centralized control scenario. Within this supply chain, the first stage faces a supplier selection decision for a particular product that experiences a price-sensitive demand. The buying stage needs to decide which suppliers to choose and how to allocate orders, determining the optimal inventory policy for all stages and the retail price to offer to end customers, while maximizing the total profit of the supply chain. The problem is formulated as a mixed integer nonlinear programming (MINLP) model and a heuristic algorithm is proposed to overcome the complexity of the model. Then, we analyze a special case that considers only one uncapacitated supplier and one buyer. An efficient heuristic is developed and computational experiments are carried out to examine the performance of the proposed heuristics. In addition, we provide a series of numerical examples to illustrate our results and analyze the impact of the parameters within a sensitivity analysis. Finally, we study a pricing and purchasing problem in a two-stage supply chain with one supplier and one retailer, where the retailer faces the price-sensitive demand and the supplier coordinates the supply chain with controllable delivery deviation. Both the retailers demand and the suppliers lead time are stochastic. A risk sharing supply contract is adopted and the supplier compensates the retailer by paying a portion of penalties for early/late delivery. In this direction, we establish a model with a game-theoretic approach to achieve supply chain coordination, simultaneously determining the retailers selling price, order quantity, and order date as well as the suppliers lead time variance. Besides, the models with respect to the constant delivery deviation are also developed and analyzed. Finally, a numerical example is presented and sensitivity analysis regarding the pricing and penalty parameters provide in-depth managerial insights for decision makers.

Download or read book Asymptotic Optimality of Constant Order Policies in Joint Pricing and Inventory Control Models written by Xin Chen and published by . This book was released on 2019 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a traditional joint pricing and inventory control problem with lead times, which has been extensively studied in the literature but is notoriously difficult to solve due to the complex structure of the optimal policy. In this work, rather than analyzing the optimal policy, we propose a class of so-called constant-order dynamic pricing policies, which are quite different from base-stock heuristics, the primary focus in the existing literature. Under such a policy, a constant-order amount of new inventory is ordered every period and a pricing decision is made based on the on-hand inventory. The policy is independent of the lead time and does not suffer from the curse of dimensionality. We prove that the best constant-order dynamic pricing policy is asymptotically optimal as the lead time grows large, which is exactly the setting in which the problem becomes computationally intractable due to the curse of dimensionality. As a main methodological contribution, we implement the so-called vanishing discount factor approach and establish the convergence to a long-run average random yield inventory model with zero lead time and ordering capacities by its discounted counterpart as the discount factor goes to one, non-trivially extending the previous results in Federgruen and Yang (2014) that analyze a similar model but without capacity constraints.