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Optimal Inventory Modeling of Systems

Author : Craig C. Sherbrooke

Publisher : Springer Science & Business Media

Page : 350 pages

File Size : 24,10 MB

Release : 2006-04-11

Category : Business & Economics

ISBN : 140207865X

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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.



Spare Parts Inventory Control under System Availability Constraints

Author : Geert-Jan van Houtum

Publisher : Springer

Page : 227 pages

File Size : 45,9 MB

Release : 2015-05-18

Category : Business & Economics

ISBN : 1489976094

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Book Description

This book focuses on the tactical planning level for spare parts management. It describes a series of multi-item inventory models and presents exact and heuristic optimization methods, including greedy heuristics that work well for real, life-sized problems. The intended audience consists of graduate students, starting scholars in the field of spare parts inventory control, and spare parts planning specialists in the industry. In individual chapters the authors consider topics including: a basic single-location model; single-location models with multiple machine types and/or machine groups; the multi-location model with lateral transshipments; the classical METRIC model and its generalization to multi-indenture systems; and a single-location model with an explicit modeling of the repair capacity for failed parts and the priorities that one can set there. Various chapters of the book are used in a master course at Eindhoven University of Technology and in a PhD course of the Graduate Program Operations Management and Logistics (a Dutch network that organizes PhD courses in the field of OM&L). The required pre-knowledge consists of probability theory and basic knowledge of Markov processes and queuing theory. End-of-chapter problems appear for all chapters, with some answers appearing in an appendix.





An Analysis of a Two-echelon Inventory System for Recoverable Items

Author : Kripa Shanker

Publisher :

Page : 348 pages

File Size : 11,83 MB

Release : 1977

Category : Inventory control

ISBN :

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Book Description

This dissertation presents an analysis of continuous review models of a two-echelon inventory system for recoverable items. The system consists of a depot and a set of bases. Primary demands occur at the bases for one or several units at a time. It is assumed that demands arrive in a Poisson manner. Upon arrival of a demand for certain units, a like number of failed units are turned in at the base. An inspection of the failed units is carried out to decide whether the units will be repaired at the base or at the depot or will be removed from the system in case repair is not economical. The bases use an (s-1, s) policy for procurement of serviceable units from the depot, and the depot uses an (s, S) policy to procure from the external supplier. Demands in an out-of-stock situation are backlogged. It is assumed that all the locations have infinite repair capacities and repair and procurement lead times are constant. A common problem in inventory management is to specify the policy parameters that will minimize expected cost per unit time for operating the system subject to constraints of certain performance measures. To formulate such a problem we must find the stationary distributions for inventory position, on-hand inventory, backorders and in-repair inventory. Our main objective is to find exact expressions for these distributions.



Planning Production and Inventories in the Extended Enterprise

Author : Karl G. Kempf

Publisher : Springer Science & Business Media

Page : 652 pages

File Size : 35,94 MB

Release : 2011-01-12

Category : Business & Economics

ISBN : 1441964851

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Book Description

In two volumes, Planning Production and Inventories in the Extended Enterprise: A State of the Art Handbook examines production planning across the extended enterprise against a backdrop of important gaps between theory and practice. The early chapters describe the multifaceted nature of production planning problems and reveal many of the core complexities. The middle chapters describe recent research on theoretical techniques to manage these complexities. Accounts of production planning system currently in use in various industries are included in the later chapters. Throughout the two volumes there are suggestions on promising directions for future work focused on closing the gaps.



Principles of Inventory Management

Author : John A. Muckstadt

Publisher : Springer Science & Business Media

Page : 339 pages

File Size : 20,82 MB

Release : 2010-03-20

Category : Business & Economics

ISBN : 0387689486

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Book Description

Inventories are prevalent everywhere in the commercial world, whether it be in retail stores, manufacturing facilities, government stockpile material, Federal Reserve banks, or even your own household. This textbook examines basic mathematical techniques used to sufficiently manage inventories by using various computational methods and mathematical models. The text is presented in a way such that each section can be read independently, and so the order in which the reader approaches the book can be inconsequential. It contains both deterministic and stochastic models along with algorithms that can be employed to find solutions to a variety of inventory control problems. With exercises at the end of each chapter and a clear, systematic exposition, this textbook will appeal to advanced undergraduate and first-year graduate students in operations research, industrial engineering, and quantitative MBA programs. It also serves as a reference for professionals in both industry and government worlds. The prerequisite courses include introductory optimization methods, probability theory (non-measure theoretic), and stochastic processes.



Multi-Stage Production Planning and Inventory Control

Author : Sven Axsäter

Publisher : Springer Science & Business Media

Page : 270 pages

File Size : 19,61 MB

Release : 2012-12-06

Category : Business & Economics

ISBN : 3642516939

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Book Description

This paper treats a two-echelon inventory system. The higher echelon is a single location reffered to as the depot, which places orders for supply of a single com modity. The lower echelon consists of several points, called the retailers, which are supplied by shipments from the depot, and at which random demands for the item occur. Stocks are reviewed and decisions are made periodically. Orders and/or shipments may each require a fixed lead time before reaching their respective desti nations. Section II gives a short literature review of distribution research. Section III introduces the multi-echelon distribution system together with the underlying as sumptions and gives a description of how this problem can be viewed as a Markovian Decision Process. Section IV discusses the concept of cost modifications in a distribution context. Section V presents the test-examples together with their optimal solutions and also gives the characteristic properties of these optimal solutions. These properties then will be used in section VI to give adapted ver sions of various heuristics which were used in assembly experiments previously and which will be tested against the test-examples.



Analysis and Algorithms for Service Parts Supply Chains

Author : John A. Muckstadt

Publisher : Springer Science & Business Media

Page : 290 pages

File Size : 21,17 MB

Release : 2006-12-26

Category : Business & Economics

ISBN : 0387272887

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Book Description

* Provides a broad overview of modeling approaches and solution methodologies for addressing inventory problems, particularly the management of high cost, low demand rate service parts found in multi-echelon settings * The text may be used in a variety of courses for first-year graduate students or senior undergraduates, or as a reference for researchers and practitioners * A background in stochastic processes and optimization is assumed





Decision Sciences

Author : Raghu Nandan Sengupta

Publisher : CRC Press

Page : 1042 pages

File Size : 49,37 MB

Release : 2016-11-30

Category : Business & Economics

ISBN : 1482282569

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Book Description

This handbook is an endeavour to cover many current, relevant, and essential topics related to decision sciences in a scientific manner. Using this handbook, graduate students, researchers, as well as practitioners from engineering, statistics, sociology, economics, etc. will find a new and refreshing paradigm shift as to how these topics can be put to use beneficially. Starting from the basics to advanced concepts, authors hope to make the readers well aware of the different theoretical and practical ideas, which are the focus of study in decision sciences nowadays. It includes an excellent bibliography/reference/journal list, information about a variety of datasets, illustrated pseudo-codes, and discussion of future trends in research. Covering topics ranging from optimization, networks and games, multi-objective optimization, inventory theory, statistical methods, artificial neural networks, times series analysis, simulation modeling, decision support system, data envelopment analysis, queueing theory, etc., this reference book is an attempt to make this area more meaningful for varied readers. Noteworthy features of this handbook are in-depth coverage of different topics, solved practical examples, unique datasets for a variety of examples in the areas of decision sciences, in-depth analysis of problems through colored charts, 3D diagrams, and discussions about software.