Taking Advantage of the Lead Time Randomness in Supply Chains lead times is a major—and increasingly important—issue inventory management, as variety risk factors motivate companies to diversify their supply sources and rely on distributed networks suppliers. In “Exploiting Random Times for Significant Inventory Cost Savings,” A. Stolyar Q. Wang show that, surprisingly, instead being damaging f...

Employing more than one supplier and splitting orders between them is a strategy employed in supply chains to lessen the lead-time risk in unstable environments. In this paper we present a multiple-sourcing inventory system with stochastic lead-times and constant demand controlled by a continuous review, reorder point-order quantity inventory policy. We consider the situation in which the order...

Compressed air is typically one of the most expensive utilities in an industrial facility. As a result, potential savings opportunities are aggressively sought out and identified. Once identified, projected energy savings must be calculated in order to justify the cost of implementing the savings opportunity. It is important to calculate projected energy and cost savings as accurately as possib...

Today’s manufacturing environment is characterized by rising production costs. Automotive companies are faced with a challenge of meeting the ever-changing customer needs at minimum possible cost. Reducing costs paramount importance for company to remain competitive in turbulent environment. How can automotive industry increase cost savings? This paper focuses on continuous improvement savings ...