A Multi-echelon Inventory System with Supplier Selection and Order Allocation Under Stochastic Demand
A Multi-echelon Inventory System with Supplier Selection and Order Allocation Under Stochastic Demand

Author: Cong Guo (Industrial engineer)

Publisher:

Published: 2013

Total Pages: 0

ISBN-13:

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This article addresses the development of an integrated supplier selection and inventory control problems in supply chain management by developing a mathematical model for a multi-echelon system. In particular, a buyer firm that consists of one warehouse and N identical retailers wants to procure a type of product from a group of potential suppliers, which may require different price, ordering cost, lead time and have restriction on minimum and maximum total order size, to satisfy the stochastic demand. A continuous review system that implements the order quantity, reorder point (Q, R) inventory policy is considered in the model. The objective of the model is to select suppliers and to determine the optimal inventory policy that coordinates stock level between each echelon of the system while properly allocating orders among selected suppliers to maximize the expected profit. The model has been solved by decomposing the mixed integer nonlinear programming model into two sub-models. Numerical experiments are conducted to evaluate the model and some managerial insights are obtained by performing some sensitivity analysis.

Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation
Effective Multi-echelon Inventory Systems for Supplier Selection and Order Allocation

Author: Cong Guo (Industrial engineer)

Publisher:

Published: 2014

Total Pages: 131

ISBN-13:

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Successful supply chain management requires an effective sourcing strategy to counteract uncertainties in both the suppliers and demands. Therefore, determining a better sourcing policy is critical in most of industries. Supplier selection is an essential task within the sourcing strategy. A well-selected set of suppliers makes a strategic difference to an organization's ability to reduce costs and improve the quality of its end products. To discover the cost structure of selecting a supplier, it is more interesting to further determine appropriate levels of inventory in each echelon for different suppliers. This dissertation focuses on the study of the integrated supplier selection, order allocation and inventory control problems in a multi-echelon supply chain. First, we investigate a non-order-splitting inventory system in supply chain management. In particular, a buyer firm that consists of one warehouse and N identical retailers procures a type of product from a group of potential suppliers, which may have different prices, ordering costs, lead times and have restriction on minimum and maximum total order size, to satisfy stochastic demand. A continuous review system that implements the order quantity, reorder point (Q, R) inventory policy is considered in the proposed model. The model is solved by decomposing the mixed integer nonlinear programming model into two sub-models. Numerical experiments are conducted to evaluate the model and some managerial insights are obtained with sensitivity analysis. In the next place, we extend the study to consider the multi-echelon system with the order-splitting policy. In particular, the warehouse acquisition takes place when the inventory level depletes to a reorder point R, and the order Q is simultaneously split among m selected suppliers. This consideration is important since it could pool lead time risks by splitting replenishment orders among multiple suppliers simultaneously. We develop an exact analysis for the order-splitting model in the multi-echelon system, and formulate the problem in a Mixed Integer Nonlinear Programming (MINLP) model. To demonstrate the solvability and the effectiveness of the model, we conduct several numerical analyses, and further conduct simulation models to verify the correctness of the proposed mathematical model.

Studies in Quantitative Decision Making
Studies in Quantitative Decision Making

Author: Diptesh Ghosh

Publisher: Springer Nature

Published: 2022-03-10

Total Pages: 224

ISBN-13: 981165820X

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This edited volume is an in-depth collation of the usage of different quantitative decision making techniques in practical areas such as lean & green supply chain, reverse logistics, perishable logistics, closed loop supply chain, sustainable project management, retail management, block chain applications, optimal supplier selection problem, demand/supply modelling, forecasting under uncertainties, scheduling & sequencing, resource constraint logistics, dynamic network supply chain, risk evaluation, and so on. Additionally, the book also solves these issues in theoretical and practical context using innovative mathematical tools. Consisting of selected papers from the 23rd Annual International Conference of the Society of Operations Management, this book's highlight is not only the coverage of interesting topics, but also how these topics are dealt with, such that post-graduate students as well as researchers and industry personnel working in areas like engineering, economics, social sciences, management, mathematics, etc., can derive the maximum benefit by reading or referring to this book. Apart from the emphasis on new mathematical, operations research, operations management, and statistical techniques, the authors also ensure that all the concepts are made clear by highlighting their practical significance in different areas of applications of operations management. By using novel presentation methods, the book offers a good practical flavor of all the different topics relevant to operations management in the coming decades.

A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand
A Study of Multi-echelon Inventory Systems with Sochastic Capacity and Intermediate Product Demand

Author: Suman Nirajan

Publisher:

Published: 2008

Total Pages: 319

ISBN-13:

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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.

Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint)
Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint)

Author: Marc de Bodt

Publisher:

Published: 2015-08-05

Total Pages: 58

ISBN-13: 9781332256280

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Excerpt from Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand was written by Marc de Bodt and Stephen C. Graves in 1982. This is a 58 page book, containing 5607 words and 5 pictures. Search Inside is enabled for this title. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Recent Advances in Intelligent Information Systems and Applied Mathematics
Recent Advances in Intelligent Information Systems and Applied Mathematics

Author: Oscar Castillo

Publisher: Springer Nature

Published: 2020-01-31

Total Pages: 903

ISBN-13: 3030341526

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This book describes the latest advances in intelligent techniques such as fuzzy logic, neural networks, and optimization algorithms, and their relevance in building intelligent information systems in combination with applied mathematics. The authors also outline the applications of these systems in areas like intelligent control and robotics, pattern recognition, medical diagnosis, time series prediction, and optimization of complex problems. By sharing fresh ideas and identifying new targets/problems it offers young researchers and students new directions for their future research. The book is intended for readers from mathematics and computer science, in particular professors and students working on theory and applications of intelligent systems for real-world applications.

Continuous-Review Policies for a Multi-Echelon Inventory Problem with Stochastic Demand
Continuous-Review Policies for a Multi-Echelon Inventory Problem with Stochastic Demand

Author: Marc De Bodt

Publisher: Palala Press

Published: 2018-03

Total Pages: 60

ISBN-13: 9781378920930

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This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Advances in Computational Intelligence
Advances in Computational Intelligence

Author: Ignacio Rojas

Publisher: Springer

Published: 2019-06-05

Total Pages: 926

ISBN-13: 3030205185

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This two-volume set LNCS 10305 and LNCS 10306 constitutes the refereed proceedings of the 15th International Work-Conference on Artificial Neural Networks, IWANN 2019, held at Gran Canaria, Spain, in June 2019. The 150 revised full papers presented in this two-volume set were carefully reviewed and selected from 210 submissions. The papers are organized in topical sections on machine learning in weather observation and forecasting; computational intelligence methods for time series; human activity recognition; new and future tendencies in brain-computer interface systems; random-weights neural networks; pattern recognition; deep learning and natural language processing; software testing and intelligent systems; data-driven intelligent transportation systems; deep learning models in healthcare and biomedicine; deep learning beyond convolution; artificial neural network for biomedical image processing; machine learning in vision and robotics; system identification, process control, and manufacturing; image and signal processing; soft computing; mathematics for neural networks; internet modeling, communication and networking; expert systems; evolutionary and genetic algorithms; advances in computational intelligence; computational biology and bioinformatics.

Handbook of Research on Transdisciplinary Knowledge Generation
Handbook of Research on Transdisciplinary Knowledge Generation

Author: Wang, Victor X.

Publisher: IGI Global

Published: 2019-04-19

Total Pages: 475

ISBN-13: 1522595325

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Traditional methods of viewing the world through the scientific method or instrumental knowledge do not adequately serve the needs of theory, research, and practice within an increasingly complex world. Through transdisciplinary theory, the focus is on a new form of learning and problem solving involving cooperation among different parts of society to meet the complex challenges of society. The Handbook of Research on Transdisciplinary Knowledge Generation is a critical scholarly resource that examines mutual learning across disciplinary lines as a strategy by which to understand the world and apply practical knowledge. Featuring a wide array of topics such as linguistic diversity, medical education, and social constructivism, this book is essential for educational professionals, researchers, students, administrators, and academicians.

Optimal Inventory Modeling of Systems
Optimal Inventory Modeling of Systems

Author: Craig C. Sherbrooke

Publisher: Springer Science & Business Media

Published: 2006-04-11

Total Pages: 350

ISBN-13: 140207865X

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Most books on inventory theory use the item approach to determine stock levels, ignoring the impact of unit cost, echelon location, and hardware indenture. Optimal Inventory Modeling of Systems is the first book to take the system approach to inventory modeling. The result has been dramatic reductions in the resources to operate many systems - fleets of aircraft, ships, telecommunications networks, electric utilities, and the space station. Although only four chapters and appendices are totally new in this edition, extensive revisions have been made in all chapters, adding numerous worked-out examples. Many new applications have been added including commercial airlines, experience gained during Desert Storm, and adoption of the Windows interface as a standard for personal computer models.