Presents a study on newsvendor bounds and features a heuristic for optimal policies in serial supply chains. Method of the study; Results and discussion. 19. On the Benefits of Inventory-Pooling in Production-Inventory Systems. Manufacturing & Service Operations Management, Jan2002, Vol. 4 Issue 1, p12, 5p By Kim, Jon-Seok; Benjaafar, Saif. Abstract: Presents a study which examined the benefits...

This paper discusses the issue of order crossover and its effects in order point, lot size (s, Q) inventory systems. Orders are likely to cross when their lead times are stochastic. Two inventory systems are considered to examine the consequences of order crossover. The first inventory system considers a fast moving item having deterministic demand and stochastic lead time. It is assumed lead t...

We consider a continuous review (s, S) model with lost sales in the presence of unexpected events. Such unexpected events include external disasters (e.g. theft or earthquakes) and internal disasters (e.g. malfunctioning of a storage equipment or fire). Once a disaster occurs the inventory drops instantaneously to zero. The total cost includes the cost of: ordering, unsatisfied demand, units de...

Available online 28 August 2014 In today's era of globalization, periodically new products with better value and added features are introduced into themarket. The rapid technological breakthroughs are creating significant risks of obsolescence at the product level. It creates enormous challenges to coordinate between technologymanagement and inventory control policies. Due to the dynamic nature...

recently, much attention has been given to stochastic demand due to uncertainty in the real -world. in the literature, decision-making models and suppliers' selection do not often consider inventory management as part of shopping problems. on the other hand, the environmental sustainability of a supply chain depends on the shopping strategy of the supply chain members. the supplier selection pl...

W introduce and analyze a model that explicitly considers the timing effect of intertemporal pricing— the concept, found in practice, that demand during a sale is increasing in the time since the last sale. We present structural results that characterize the interaction between the decision to hold a sale and the inventory-ordering decision. We show that the optimal inventory-ordering policy is...

This paper is devoted to investigating inventory control problems under nonstationary and uncertain demand. A belief-rule-based inventory control (BRB-IC) method is developed, which can be applied in situations where demand and demand-forecast-error (DFE) do not follow certain stochastic distribution and forecasting demand is given in single-point or interval styles. The method can assist decis...

An undesired observation known as the bullwhip effect in supply chain management leads to excessive oscillations of the inventory and order levels. This paper presents how to quantify and mitigate the bullwhip effect by introducing model predictive control (MPC) strategy into the ordering policy for a benchmark supply chain system. Instead of quantifying the bullwhip effect with commonly used s...