A new stochastic simulation optimization methodology for supply chain inventory optimization with imperfect quality items

2014 ◽  
Author(s):  
Qinglin Duan ◽  
T. Warren (Thunshun Warren) Liao
Keyword(s):  
Supply Chain ◽  
Stochastic Simulation ◽  
Simulation Optimization ◽  
Imperfect Quality ◽  
Inventory Optimization ◽  
Optimization Methodology

scholarly journals Interdependence between Inventory Management and Employees’ Satisfaction

2013 ◽  
Vol 25 (3) ◽  
pp. 245-254
Author(s):  
Dubravko Tomašić ◽  
Dragan Peraković ◽  
Marinko Jurčević
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Added Value ◽  
Service Users ◽  
Competitive Advantages ◽  
Inventory Optimization ◽  
Interaction Processes ◽  
Synergy Effects ◽  
Employees Satisfaction ◽  
New Knowledge

The study determines the correlation between the application of advanced models and methods of inventory optimisation in the supply chain in relation to the satisfaction of employees who are responsible for managing the inventory optimisation processes. The previous studies confirm that the optimisation of inventory management in the supply chain insures competitive advantages on the market. There is space for further research of impact of the achieved inventory optimisation in the supply chain on the change of the employees’ satisfaction. The paper establishes the interrelation of the interdependence of the achieved inventory optimisations on the satisfaction of the employees and the related synergy effects of acquiring added value of the companies on the market oriented to the satisfaction of the buyers and service users. The research has defined new knowledge in interdependence of inventory management optimisation on the change of indicators of employees’ satisfaction. Based on the performed research an assumption has been created for the design of an application package (so-called XaaS-based services) for the management of interaction processes of inventory optimization in the supply chain, satisfaction of service users and employees.

Experiences in Modeling, Simulation, and Optimization of Chemical Industry Supply Chains

Manufacturing ◽  
2002 ◽  
Author(s):  
Charles R. Standridge ◽  
David R. Heltne
Keyword(s):  
Supply Chain ◽  
Simulation Model ◽  
Production Planning ◽  
Simulation Optimization ◽  
Process Industry ◽  
Plant Production ◽  
Optimization Models ◽  
Individual Plant ◽  
Simulation And Optimization ◽  
Combined Simulation

We have developed and applied simulation as well as combined simulation – optimization models to represent process industry plant logistics and supply chain operations. The simulation model represents plant production, inventory, and shipping operations as well as inter-plant shipments. When a combined simulation-optimization approach is used, the simulation periodically invokes a classical production planning optimization model to set production and shipping levels. These levels are retrieved by and used in the simulation model. Process industry supply chain operations include stochastic elements such as customer demands whose expected values may vary in time as well as transportation lead times. The complexity of individual plant operations and logistics must be considered. Simulation provides the methods needed to integrate these elements in a single model. Periodically during a simulation run, production planning decisions that require optimization models may be made. Simulation experimental results are used to determine service levels to end customers as well as to set rail fleet sizes, inventory capacities, and capital equipment requirements for logistics as well as to assess alternative shipping schedules.

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