scholarly journals Research on Optimal Policy of Single-Period Inventory Management with Two Suppliers

2014 ◽  
Vol 2014 ◽  
pp. 1-5 ◽  
Author(s):  
Baimei Yang ◽  
Lihui Sui ◽  
Peipei Zhu
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Numerical Experiments ◽  
Control Policy ◽  
Variable Cost ◽  
Fixed Cost ◽  
Setup Cost ◽  
Single Period ◽  
Inventory Control Policy ◽  
Inventory Control Problem

We study a single-period inventory control problem with two independent suppliers. With the first supplier, the buyer incurs a high variable cost but negligible fixed cost; with the second supplier, the buyer incurs a lower variable cost but a positive fixed cost. At the same time, the ordering quantity is limited. We develop the optimal inventory control policy when the holding and shortage cost function is convex. We also conduct some numerical experiments to explore the effects of the fixed setup costKand the ordering capacityQon the optimal control policy.

Inventory Control Policy of Service Parts under the Background of Service-Embedded Manufacturing

2011 ◽  
Vol 201-203 ◽  
pp. 2509-2512
Author(s):  
Peng Peng Wang ◽  
Xin Guo Ming ◽  
Dong Zhang ◽  
Dong Li ◽  
Zhen Yong Wu
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Control Policy ◽  
Service Level ◽  
Manufacturing Firms ◽  
Control Parameters ◽  
Service Market ◽  
Service Parts ◽  
Maximum Profit ◽  
Inventory Control Policy

This paper studied service parts inventory control policy of a large equipment manufacturer which is on the transformation to service-embedded manufacturing. In order to get win-win solution for both supplier and client, a new cooperation pattern of service parts management was proposed. And a service parts model of multi-echelon inventory system in the after-sale service market was build based on the analysis of service parts demand under servitizaion. Based on this model, many issues of service parts inventory management were studied. Finally the inventory control parameters were exploited which aims at the maximum profit of service parts inventory. With this method, the reduced inventory of suppliers and improved service level could be calculated quantitatively, which could work as a reference to set price of extensional services. Experiments showed the method proposed in this paper is valid for service-embedded manufacturing firms.

scholarly journals Inventory Control System for a Healthcare Apparel Service Centre with Stockout Risk: A Case Analysis

2017 ◽  
Vol 2017 ◽  
pp. 1-12
Author(s):  
An Pan ◽  
Chi-Leung Hui
Keyword(s):  
Control Problem ◽  
Inventory Control ◽  
Lead Time ◽  
Control Policy ◽  
The Elderly ◽  
Inventory Cost ◽  
Product Demand ◽  
Service Centre ◽  
Inventory Control Policy ◽  
Inventory Control Problem

Based on the real-world inventory control problem of a capacitated healthcare apparel service centre in Hong Kong which provides tailor-made apparel-making services for the elderly and disabled people, this paper studies a partial backordered continuous review inventory control problem in which the product demand follows a Poisson process with a constant lead time. The system is controlled by an (Q,r) inventory policy which incorporate the stockout risk, storage capacity, and partial backlog. The healthcare apparel service centre, under the capacity constraint, aims to minimize the inventory cost and achieving a low stockout risk. To address this challenge, an optimization problem is constructed. A real case-based data analysis is conducted, and the result shows that the expected total cost on an order cycle is reduced substantially at around 20% with our proposed optimal inventory control policy. An extensive sensitivity analysis is conducted to generate additional insights.

scholarly journals Analisis Bullwhip Effect pada Rantai Supply dengan Model Q Menggunakan Pendekatan Hadley-Within di PT. XYZ Medan

2019 ◽  
Vol 2 (4) ◽  
Author(s):  
Martha Purnama Sari Panggabean ◽  
Dimas Akmarul Putera ◽  
Nursafwah
Keyword(s):  
Supply Chain ◽  
Inventory Control ◽  
Distribution System ◽  
Control Policy ◽  
Bullwhip Effect ◽  
Product Distribution ◽  
Soft Drinks ◽  
Inventory Cost ◽  
Inventory Control Policy ◽  
Q Model

PT. XYZ adalah perusahaan yang bergerak didalam pembuatan kemasan botol minum. Pendistribusian produk dilakukan PT XYZ menggunakan data historis berdasarkan jumlah permintaan pada tahun 2013 dan 2014. Data tersebut menunjukkan bahwa terjadinya perbedaan hasil. Tahun 2013 memiliki jumlah permintaan yang lebih rendah dari tahun 2014. Informasi terdapat bahwa perlu dilakukan pengevaluasian karena didalam rantai produksi terdapat bullwhip effect. Terdapat nilai bullwhip Effect menujukan bahwa nilai bullwhip effect untuk distributor Indomaret, Carrefour, dan rantai manufakturnya masing-masing sebesar 0,5303; 0,2967, dan 0,5114. Usulan perbaikan dapat diatasi yaitu dengan model Q yang berfungsi menggendalikan persediaan pada rantai pasok dengan metodeHadley-Within. Perhitungan pengendalian persediaan untuk distributor Indomaret, Carrefour, dan rantai manufakturnya masing-masing sebesar 1,0721; 1,100; dan 1,0714. Hasil dari perhitungan menujukan bahwa terjadi keseimbangan antara penjual dan pembeli sehingga biaya pun dapat dihematkan pada PT XYZ.   PT. XYZ Medan is manufacturing company that produce soft drinks of beverages in containers. In the product distribution system at PT. XYZ Medan, found that the number of orders based on the result of forecasting in 2013 lower than actual orders at distrbutor and manufacturer in 2014. Distorsion of information on this order can evaluate the indication of bullwhip effect in supply chain. Based on the result calculation of bullwhip effect, found that the value of bullwhip effect for Indomaret distributor, Carrefour, and supply chain of manufacturer each of 0,5303; 0,2967, and 0,5114. Proposed improvements to predominate bullwhip effect that is by doing inventory control policy with Q model using Hadley-Within approach. The value of bullwhip effect aftre doing inventory control policy for Indomaret distributor, Carrefour, and supply chain of manufacturer each of 1,0721; 1,100; dan 1,0714. The value of bullwhip effect which is close to one shows that the variance between the number of the order and the number of the demand nearly balanced so as to save the inventory cost at PT. XYZ Medan.

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