Evolutionary Adaptation of (r, Q) Inventory Management Policy in Complex Distribution Systems

2020 ◽  
pp. 146-157
Author(s):  
Przemysław Ignaciuk ◽  
Łukasz Wieczorek
Keyword(s):  
Inventory Management ◽  
Distribution Systems ◽  
Management Policy ◽  
Evolutionary Adaptation ◽  
Complex Distribution

Shelf life-based inventory management policy for RF monitored warehouse

2018 ◽  
Vol 9 (3-4) ◽  
pp. 101-111 ◽  
Author(s):  
R. Micale ◽  
G. La Scalia
Keyword(s):  
Shelf Life ◽  
Inventory Management ◽  
Management Policy

Analisis Pengendalian Persediaan Barang Pupuk Dengan Metode Economic Order Quality Pada Perusahaan Maju Mapan

2021 ◽  
Vol 2 (1) ◽  
pp. 7-14
Author(s):  
Dini Fitriani
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Sales Process ◽  
Main Activity ◽  
A Company

The Maju Mapan Company is a company engaged in trading, whose main activity is selling fertilizer types. In carrying out sales activities, it is closely related to merchandise inventory which is an important component that must be available for the smooth running of the sales process. This study aims to determine the quantity of economical fertilizer merchandise inventory using the Economic Order Quantity method. From the results of calculations that have been done by comparing the current trading goods inventory management policy in the company with the EOQ method in the procurement of merchandise, it can be concluded that by using the EOQ method, the quantity of EOQ orders is higher than the order according to the company, but if the company uses the method EOQ, the company will save an inventory cost of Rp. 48,546,480

Inventory Management in Competition Environment Based on Customer Service

2011 ◽  
Vol 58-60 ◽  
pp. 2141-2146
Author(s):  
Xiao Di ◽  
Bao Xing
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Customer Service ◽  
Inventory Management ◽  
Demand Uncertainty ◽  
Management Policy ◽  
Management Decision ◽  
Inventory Level ◽  
On Demand ◽  
Optimal Policies

Based on demand uncertainty, the paper studies inventory management decision of two competing supply chains from the perspective of customer service. The paper mainly discusses two different inventory strategies, which are widely used, that is, consignment stock and VMI, and analyzes the optimal policies under three competitive scenarios, which consist of using consignment stock in both supply chains (CC mode), using VMI in both supply chains (DD mode), and using consignment stock in one supply chain but VMI another (VC mode). The paper compares equilibrium inventory level and profit of supply chain in different competitive modes, and concludes that both supply chains use VMI is equilibrium, which means that when manufacturers have right to choose inventory management policy, they prefer VMI. But it isn’t paradoxical with the phenomenon that consignment stock is common in reality, because manufacturers are forced to use consignment by retailer’s channel power.

A Distributed Model Predictive Control Strategy for the Bullwhip Reducing Inventory Management Policy

2019 ◽  
Vol 15 (2) ◽  
pp. 932-941 ◽  
Author(s):  
Dongfei Fu ◽  
Hai-Tao Zhang ◽  
Ying Yu ◽  
Clara Mihaela Ionescu ◽  
El-Houssaine Aghezzaf ◽  
...  
Keyword(s):  
Model Predictive Control ◽  
Inventory Management ◽  
Predictive Control ◽  
Control Strategy ◽  
Management Policy ◽  
Distributed Model ◽  
Distributed Model Predictive Control

scholarly journals THE FORMATION AND EFFECTIVE USE OF INVENTORIES BY ENTERPRISES

2021 ◽  
pp. 81-92
Author(s):  
Svitlana Koshelenko
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Foreign Firms ◽  
Main Trend ◽  
Just In Time ◽  
Modern Approach ◽  
Doing Business ◽  
The Subject ◽  
Direct Delivery ◽  
Effective Use

The article considers the issues of formation and effective use of inventories by enterprises. It is confirmed that the subject of the inventory management policy consists of two main blocks: the inventory formation policy and the inventory use management policy. Inventory formation management occurs by applying inventory management models. Inventory use management performed by means of indicator calculations of reserves effective use. Inventories are grouped and classified according to the most important features. Inventory management tasks and exiting models is carried out, which takes into account the classic and modern approach to doing business. It is proved that the concepts previously used fail to justify themselves in the new conditions. It is established that most companies in the world improve the efficiency of inventory management as follows: rationalization of processes between companies, shifting ownership of inventory towards suppliers (implementation of the principle of “inventory managed by supplier”), direct delivery of finished products to the consumer in accordance with his wishes and financial capabilities, inventory management using the principle of “just in time”, introduction of flexible (lean) production, etc. Thus, the main trend of foreign firms, in contrast to domestic ones, is the spread of the concept of inventory minimization. Nine provisions (theses) have been formulated for the methodology of forming various for managing inventory values of an enterprise.

scholarly journals Designing the Analytical Base for Optimal Allocation of Stocks in Supply Chains

2018 ◽  
Vol 19 (4) ◽  
pp. 346-355 ◽  
Author(s):  
Lukinskiy Valery ◽  
Lukinskiy Vladislav
Keyword(s):  
Supply Chains ◽  
Inventory Management ◽  
Distribution System ◽  
Distribution Systems ◽  
Optimal Allocation ◽  
Point Of View ◽  
Efficiency Increase ◽  
Multi Level ◽  
Key Aspects ◽  
Management Issues

Abstract The carried out studies show that from the point of view of the issue of efficiency increase of logistical systems, there are several key aspects. Firstly, choice of methods for managing the triad of logistics functions ‘inventory management - warehousing – transportation’, where the inventory management issues are considered as the most relevant ones. Secondly, there is recognized the need to move the studies of multi-level systems within the framework of the concept of supply chain management. Nowadays, supply chains, which are represented by the distribution system, are widespread in practice. The most common of them are two-level ones with a central supplier at the second level and a certain number of companies at the first level; and multi-level systems of the distribution configuration network in which multi-nomenclature stocks are located. The article is devoted to the design and enhancement of analytical platform for inventory management in such distribution systems.

scholarly journals Continuous Genetic Algorithms in the Optimization of Logistic Networks: Applicability Assessment and Tuning

2020 ◽  
Vol 10 (21) ◽  
pp. 7851
Author(s):  
Przemysław Ignaciuk ◽  
Łukasz Wieczorek
Keyword(s):  
Inventory Management ◽  
Numerical Experiments ◽  
Fitness Function ◽  
Management Policy ◽  
Uncertain Demand ◽  
Satisfaction Level ◽  
Contact Points ◽  
Operational Costs ◽  
Distribution Process ◽  
Continuous Genetic Algorithm

Globalization opens up new perspectives for handling goods distribution in logistic networks. However, establishing an efficient inventory policy is challenging by virtue of the analytical and computational complexity. In this study, the goods distribution process that was governed by the order-up-to policy, implemented in either a distributed or centralized way, was investigated in the logistic systems with complex interconnection topologies. Uncertain demand may be imposed at any node, not just at conveniently chosen contact points, with a lost-sales assumption that introduces a non-linearity into the node dynamics. In order to adjust the policy parameters, the continuous genetic algorithm (CGA) was applied, with the fitness function incorporating both the operational costs and customer satisfaction level. This study investigated how to select the parameters of the popular inventory management policy when operating in the non-trivial networked structures. Moreover, precise guidelines for the CGA tuning in the considered class of problems were provided and evaluated in extensive numerical experiments.

Efficient inventory management in multi-echelon distribution systems

1997 ◽  
Vol 33 (3-4) ◽  
pp. 729-732 ◽  
Author(s):  
Yeong-joon Yoo ◽  
Won-seok Kim ◽  
Jong-tae Rhee
Keyword(s):  
Inventory Management ◽  
Distribution Systems
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