The Impact of Demand Correlation on Replenishment Policies for Multi-Product Stochastic Inventory Systems with Joint-Replenishment Costs

2008 ◽  
Author(s):  
Haolin Feng ◽  
Kumar Muthuraman ◽  
Vinayak Deshpande
Keyword(s):  
Inventory Systems ◽  
Joint Replenishment ◽  
Stochastic Inventory ◽  
The Impact ◽  
Demand Correlation

A joint replenishment supply model for multi-products grouped by several variables with random and time dependence demand

2019 ◽  
Vol 15 (1) ◽  
pp. 276-296
Author(s):  
Fernando Rojas
Keyword(s):  
Time Dependence ◽  
Moving Average ◽  
Periodic Review ◽  
Real World Data ◽  
Joint Replenishment ◽  
Content Type ◽  
Stochastic Inventory ◽  
Autoregressive Moving Average Model ◽  
Several Variables ◽  
Supply Model

Purpose This paper aims to propose a supply model of periodic review with joint replenishment for multi-products grouped by several variables with random and time dependence demand. Design/methodology/approach The products are grouped by multivariate cluster analysis. The stochastic inventory model describes the random demand of each product, considering the temporal dependency through a generalized autoregressive moving average model. Stochastic programming for the total cost of inventory is obtained considering the expected value of the demand per unit of time. Findings The total costs for the products grouped with the proposed model are 6% lower than for the individual inventory policy. The expected shortage units decrease significantly in the proposed grouped model with temporary dependence. In addition, the proposal with temporary dependency has lower costs than when the independent and identically distributed demand is considered. Originality/value The proposed policy is exemplified with real-world data from a Chilean hospital, where the products (drugs) are segmented by grouping variables, forming clusters of drugs with homogeneous behavior within the groups and heterogeneous behavior between groups.

The impact of inventory sharing on the bullwhip effect in decentralized inventory systems

2012 ◽  
Vol 6 (2-3) ◽  
pp. 89-98 ◽  
Author(s):  
Dang Van Le ◽  
Luong Trung Huynh ◽  
Kifor Vasile Claudiu ◽  
Muntean Achim
Keyword(s):  
Bullwhip Effect ◽  
Inventory Systems ◽  
Inventory Sharing ◽  
The Impact
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