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Author: Alp Muharremogl̆u
Publisher:
ISBN:
Category :
Languages : en
Pages : 126
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Book Description
(cont.) In addition to providing a simple proof technique, the new approach gives rise to efficient algorithms for the calculation of the policy parameters, for all the systems described above. Finally we analyze an assembly system with stochastic leadtimes. We show that the problem can be decomposed into a series of subproblems, each with a single kit of parts. This enhances our understanding about optimal policies in this setting and we develop a relatively efficient algorithm for the computation of optimal policies.
Author: Alp Muharremogl̆u
Publisher:
ISBN:
Category :
Languages : en
Pages : 126
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Book Description
(cont.) In addition to providing a simple proof technique, the new approach gives rise to efficient algorithms for the calculation of the policy parameters, for all the systems described above. Finally we analyze an assembly system with stochastic leadtimes. We show that the problem can be decomposed into a series of subproblems, each with a single kit of parts. This enhances our understanding about optimal policies in this setting and we develop a relatively efficient algorithm for the computation of optimal policies.
Author: Jing-Sheng J. Song
Publisher: Edward Elgar Publishing
ISBN: 180037710X
Category : Technology & Engineering
Languages : en
Pages : 565
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Book Description
This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Author: Craig C. Sherbrooke
Publisher: Springer Science & Business Media
ISBN: 140207865X
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
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.
Author: Xiaotian Liu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We apply Multi-Agent Deep Reinforcement Learning (MADRL) to inventory management problems with multiple echelons and evaluate MADRL's performance to minimize the overall costs of a supply chain. We also examine whether the upfront-only information-sharing mechanism used in MADRL helps alleviate the bullwhip effect in a supply chain. We apply Heterogeneous-Agent Proximal Policy Optimization (HAPPO) on the multi-echelon inventory management problems in both a serial supply chain and a supply chain network. Our results show that policies constructed by HAPPO achieve lower overall costs than policies constructed by single-agent deep reinforcement learning and other heuristic policies. Also, the application of HAPPO results in a less significant bullwhip effect than policies constructed by single-agent deep reinforcement learning where information is not shared among actors. Somewhat surprisingly, when applying HAPPO, the system achieves the lowest overall costs when the minimization target for each actor is a combination of its own costs and the overall costs of the system, and the fully self-interested reward target performs near-optimally, while one would expect using the overall costs of the system as a reward target for each actor would be optimal in training the models. Our results provide a new perspective on the benefit of information sharing inside the supply chain that helps alleviate the bullwhip effect and improve the overall performance of the system. Upfront information sharing and action coordination in model training among actors are essential, with the former more essential, for improving a supply chain's overall performance when applying MADRL. Neither actors being fully self-interested nor actors being fully system-focused leads to the optimal performance of policies learned and constructed by MADRL. Our results also verify MADRL's potential in solving various multi-echelon inventory management problems with complex supply chain structures and in non-stationary market environments.
Author: Robert A. Davis
Publisher: John Wiley & Sons
ISBN: 1119174023
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
Remove built-in supply chain weak points to more effectively balance supply and demand Demand-Driven Inventory Optimization and Replenishment shows how companies can support supply chain metrics and business initiatives by removing the weak points built into their inventory systems. Beginning with a thorough examination of Just in Time, Efficient Consumer Response, and Collaborative Forecasting, Planning, and Replenishment, this book walks you through the mathematical shortcuts set up in your management system that prevent you from attaining supply chain excellence. This expanded second edition includes new coverage of inventory performance, business verticals, business initiatives, and metrics, alongside case studies that illustrate how optimized inventory and replenishment delivers results across retail, high-tech, men's clothing, and food sectors. Inventory optimization allows you to avoid out-of-stock situations without impacting the bottom line with excessive inventory maintenance. By keeping just the right amount of inventory on hand, your company is better able to meet demand without sacrificing the cost-effectiveness of other supply chain strategies. The trick, however, is determining "just the right amount"—and this book provides the background and practical guidance you need to do just that. Examine the major supply chain strategies of the last 30 years Remove the shortcuts that prohibit supply chain excellence Optimize your supply/demand balance in any vertical Overcome systemic weaknesses to strengthen the bottom line Inventory optimization is benefitting companies around the world, as exemplified here by case studies involving Matas, PWT, Wistron, and Amway. When inefficiencies are built into the system, it's only smart business to identify and remove them—and implement a new streamlined process that runs like a well-oiled machine. Demand-Driven Inventory Optimization and Replenishment is an essential resource for exceptional supply chain management.
Author: Christopher Grob
Publisher: Springer
ISBN: 3658233753
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Inventory Management in Multi-Echelon Networks presents methods to plan inventory in distribution networks. By holistically looking at the supply chain, it shows how safety stocks across all echelons can be optimized if inventory of all levels is taken into consideration. The gap between the existence of advanced inventory planning methods and their low penetration in the industry was the motivation for this book. Christopher Grob develops essential algorithms that companies can use for network inventory planning and highlights achievable implementation benefits. The work of the author was inspired by the needs of an after sales supply chain of a large automotive company. This company supplies customers all over the world with spare parts and operates a distribution network with more than 100 warehouses. This supply chain faces two particular challenges: demand is highly uncertain and customers expect a high service level. About the Author Christopher Grob works in after sales supply chain management at a major German automotive company. He is responsible for the functional development of inventory planning systems for the spare parts business. He is an expert in the field of inventory management.
Author: Emóke Bazsa
Publisher:
ISBN:
Category :
Languages : en
Pages : 13
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Book Description
Author: Ming Liu
Publisher: Springer Nature
ISBN: 9811393532
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
This book is the first work to conduct the emergency logistics optimization problem under the epidemic environment (whether natural or man-made), which provides a new perspective for the application of optimization theory. In this book, the research methods involve epidemic dynamics, scenario-based emergency decision-making method, big data which combines the traditional and emerging technologies. The authors take epidemic outbreak as the research object and deeply integrate the epidemic spread model with the optimization model of emergency resource scheduling, which opens up a novel application area of operations research.
Author: Yingshuai Zhao
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We conducted experiments in a multi-echelon inventory system with two scenarios: no information sharing and full information sharing. The results indicate that the bullwhip effect persists even after traditional causes have been excluded. Moreover, full information sharing cannot guarantee performance improvement. From a behavioral perspective, we analyze different causes of the bullwhip effect for the two scenarios with linear regression models. Additionally, we find that the attitudes on two important inventory factors (the on-hand inventory and the stockout) are reversed in the two scenarios. These results may provide managers with useful new ideas for improving performance.
Author: Shaun Snapp
Publisher: Scm Focus
ISBN: 9780983715504
Category :
Languages : en
Pages : 184
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Book Description
This books explains the emerging technology of inventory optimization and multi-echelon (MEIO) supply planning. It takes a complex subject and effectively communicates what MEIO is about in plain English terms. This is the only book currently available that describes MEIO for practitioners, rather for mathematicians or academics. The book describes with text and graphics how inventory optimization allows the entire supply plan to be controlled with service levels, and how multi echelon technology answers the question of where to locate inventory in the supply network. This is the only book on inventory optimization and multi echelon planning which compares how different best of breed vendors apply MEIO technology to their products. It also explains why this technology is so important for supply planning and why companies should be actively investigating this method. The book moves smoothly between concepts to screen shots and descriptions of how the screens are configured and used. This provides the reader with some of the most intriguing areas of functionality within a variety of applications.
