scholarly journals An Optimization Model for Inventory System and the Algorithm for the Optimal Inventory Costs Based on Supply-Demand Balance

2015 ◽  
Vol 2015 ◽  
pp. 1-11 ◽  
Author(s):  
Qingsong Jiang ◽  
Wei Xing ◽  
Ruihuan Hou ◽  
Baoping Zhou
Keyword(s):  
Optimization Model ◽  
Lead Time ◽  
Compound Poisson Process ◽  
Inventory System ◽  
Optimal Management ◽  
Agricultural Enterprises ◽  
Inventory Costs ◽  
Inventory Optimization ◽  
Inventory Strategy ◽  
Mutually Independent

In order to investigate the inventory optimization of circulation enterprises, demand analysis was carried out firstly considering supply-demand balance. Then, it was assumed that the demand process complied with mutually independent compound Poisson process. Based on this assumption, an optimization model for inventory control of circulation enterprises was established with the goal of minimizing the average total costs in unit time of inventory system. In addition, the optimal computing algorithm for inventory costs was presented. Meanwhile, taking the agricultural enterprises in Aksu, Xinjiang, China, for example, the researchers conducted numerical simulation and sensitivity analysis. Through constantly adjusting and modifying the parameters values in model, the optimal stock and the optimal inventory costs were obtained. Therein, the numerical results showed that the uncertainty of lead time greatly influenced the optimal inventory strategy. Besides, it was demonstrated that the research results provided a valuable reference for the agricultural enterprises in terms of optimal management for inventory system.

scholarly journals IMPLEMENTASI MODEL STOKASTIK PADA PERMASALAHAN OPTIMASI PERSEDIAAN KELAPA PADA TINGKAT DISTRIBUTOR

2020 ◽  
Vol 9 (1) ◽  
pp. 90
Author(s):  
NOVI RUSTIANA DEWI ◽  
EKA SUSANTI ◽  
BAMBANG SUPRIHATIN ◽  
AGUSTINA BIDARTI ◽  
SINTA ELPATRIKA ABELIA ◽  
...  
Keyword(s):  
Lead Time ◽  
Random Variable ◽  
Inventory System ◽  
Inventory Cost ◽  
Inventory Costs ◽  
Stochastic Inventory ◽  
Stochastic Inventory Model ◽  
Total Inventory ◽  
Stochastic Inventory Models ◽  
Product Inventory

In the inventory system is given operational policies relating to product inventory control, such as how much is ordered, when to order with the aim of minimizing storage and ordering costs. Customer demand and lead time affect the inventory system. This study aims to determine the densitas distribution of demand data, total inventory costs and optimal coconut supply for the two order periods using the stochastic inventory model. Stochastic inventory models can be used if there is variable uncertainty. This paper discusses the optimization of coconut inventories using a stochastic model with uncertainty about demand and lead time. It is known that demand data is uniformly distributed, based on the realization value of random variable requests can be formed in 49 scenarios. Obtained an optimal total inventory cost for the two planning periods is Rp. 45,672,910, optimal supply for period one was 26031 coconuts. Inventory levels in two period for any scenarios are

A discrete time deteriorating inventory system with geometric lead time

2013 ◽  
Vol 18 (4) ◽  
pp. 484
Author(s):  
A. Shophia Lawrence ◽  
B. Sivakumar ◽  
G. Arivarignan
Keyword(s):  
Discrete Time ◽  
Lead Time ◽  
Inventory System

scholarly journals Controlled optimization model for traffic zones during road repair periods

2020 ◽  
Vol 164 ◽  
pp. 03007
Author(s):  
Elizaveta Kondrashova
Keyword(s):  
Markov Processes ◽  
Optimization Model ◽  
Optimal Strategy ◽  
Management Strategy ◽  
Optimal Management ◽  
The Road ◽  
On The Road ◽  
Semi Markov Processes

The aim of the research is construct a model that allows to make the best decisions while carrying out repairs on the road. These decisions can be made taking into account both the interests of the participants of the traffic and taking into account the costs spent on repair. This paper presents optimization model for traffic zones using queueing controlled models in searching for an optimal management strategy. This optimal strategy is based on the theory of controlled semi-Markov processes. As a result we have controlled model for use during road repair periods. The model can be complicated and varied depending on the conditions.

scholarly journals Analysis and Optimization of a Combined Make-to-Stock and Make-to-Order Multiproduct Manufacturing System

2009 ◽  
Vol 2009 ◽  
pp. 1-27 ◽  
Author(s):  
Khaled Hadj Youssef ◽  
Christian van Delft ◽  
Yves Dallery
Keyword(s):  
Lead Time ◽  
High Volume ◽  
Service Level ◽  
Time Service ◽  
Inventory Costs ◽  
Make To Order ◽  
End Products ◽  
Low Volume ◽  
Multiproduct Manufacturing ◽  
The Impact

We consider a single-stage multiproduct manufacturing facility producing several end-products for delivery to customers with a required customer lead-time. The end-products can be split in two classes: few products with high volume demands and a large number of products with low-volume demands. In order to reduce inventory costs, it seems efficient to produce the high-volume products according to an MTS policy and the low volume products according to an MTO policy. The purpose of this paper is to analyze and compare the impact of the scheduling policy on the overall inventory costs, under customer lead-time service level constraints. We consider two policies: the classical FIFO policy and a priority policy (PR) which gives priority to low volume products over high volume products. We show that for some range of parameters, the PR rule can significantly outperform the FIFO rule. In these ranges, the service level constraints are satisfied by the PR rule with much lower inventory costs.

Sign in / Sign up

Export Citation Format

Share Document