scholarly journals Dynamic sourcing strategies for supply disruptions under consumer stockpiling

2021 ◽  
Author(s):  
Shanshan Li ◽  
Yong He ◽  
Li Zhou
Keyword(s):  
Order System ◽  
Joint Decision ◽  
Sourcing Strategies ◽  
Make To Order ◽  
Sourcing Strategy ◽  
Holding Cost ◽  
Future Consumption ◽  
Inventory Holding ◽  
Relative Factors

AbstractThis paper considers a make-to-order system where production gets disrupted due to a random supply failure. To avoid potential stock-out risk and responding price increase during disruption, customers might decide to stockpile extra units for future consumption. We investigate the contingent sourcing strategy for the manufacturer to cope with the disruption. To this end, we first discuss the optimal post-disruption stockpiling decision for customers. In view of expected disruption duration, price rise, and inventory holding cost, three types of stockpiling behavior are analytically provided for the customers: non-stockpiling, gradual stockpiling, and instantaneous stockpiling. Next, a model is formulated to optimize the joint decision of contingent sourcing time and quantity, with the objective of maximizing profit expectation. Finally, by conducting numerical analysis, we generate further insights into the role of relative factors and provide specific managerial suggestions on how to adapt dynamic contingent sourcing strategies to alleviate different disruptions, under different market environments and customer behaviors.

Strategic Inventories Under Supply Chain Competition

2021 ◽  
Author(s):  
Xi Li ◽  
Yanzhi Li ◽  
Ying-Ju Chen
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Distribution Channel ◽  
Problem Definition ◽  
Supply Chain Competition ◽  
Managerial Implications ◽  
Holding Cost ◽  
Inventory Holding ◽  
Period Model

Problem definition: We consider the effects of strategic inventory (SI) in the presence of chain-to-chain competition in a two-period model. Academic/practical relevance: Established findings suggest that SI may alleviate double marginalization and improve the efficiency of a decentralized distribution channel. However, no studies consider the role of SI under chain-to-chain competition. Methodology: We build a two-period model consisting of two competing supply chains, each with an upstream manufacturer and an exclusive retailer. The retailers compete on either price or quantity. We characterize the firms’ strategies under the concept of perfect Bayesian equilibrium. We consider cases where contracts are either observable or unobservable across supply chains. Results: (1) SI still exists under chain-to-chain competition. Retailers may carry more inventory when the competition becomes fiercer, which further intensifies the supply chain competition. (2) Different from the existing findings, SI may backfire and hurt all firms. Interestingly, firms may benefit from a higher inventory holding cost. (3) Under supply chain competition, the prisoner’s dilemma can arise if competition intensity is intermediate; in other words, manufacturers are better off without strategic inventory, and yet they cannot help allowing strategic inventory, which is the unique equilibrium. Managerial implications: Despite its appeal among firms of a single supply chain, the role of SI is altered or even reversed by chain-to-chain competition. Conventional wisdom on SI should be applied with caution.

Make-To-Order Production Planning With Seasonal Supply In Canned Pineapple Industry

2021 ◽  
Author(s):  
Kanapath Plangsrisakul ◽  
Tuanjai Somboonwiwat ◽  
Chareonchai Khompatraporn
Keyword(s):  
Production Planning ◽  
Planning Horizon ◽  
Labor Cost ◽  
Raw Material ◽  
Supply Uncertainty ◽  
Make To Order ◽  
Total Profit ◽  
Holding Cost ◽  
The Cost ◽  
Inventory Holding

This research studies a make-to-order production planning in a canned pineapple industry. Pineapple is a seasonal perishable fruit. Thus, the cost of fresh pineapple which is the main raw material in canned pineapple is inexpensive during its season. The color of the pineapple also determines the price of the canned pineapple. However, the availability of different colors (called “choice” and “standard”) is dependent. Specifically, if the ratio of the choice color is more, the ratio of the other color is less. There are several costs involve such as fresh pineapple cost, can cost, sugar cost, water cost, labor cost, energy cost, and inventory cost. The problem is formulated as a mathematical model to maximize the total profit over four-months planning horizon. Two supply uncertainty cases are tested which are low and high ratios of the choice color. The results show that the profit depends on available color ratios of the pineapple. The production planning is best if it matches with the availability of the color ratios. In certain months, some fresh pineapple purchased exceed the need of the production because of the dependency of the two colors. The inventory holding cost also influences the production decision—whether to produce the canned pineapple in earlier months or it is better to produce only the canned pineapple when it is needed to serve the customer orders.

scholarly journals Strategic Inventory Positioning in BOM with Multiple Parents Using ASR Lead Time

2016 ◽  
Vol 2016 ◽  
pp. 1-9 ◽  
Author(s):  
Jingjing Jiang ◽  
Suk-Chul Rim
Keyword(s):  
Lead Time ◽  
Solution Procedure ◽  
Optimal Position ◽  
Work In Process ◽  
Make To Order ◽  
Holding Cost ◽  
Total Inventory ◽  
Inventory Holding Cost ◽  
Inventory Holding ◽  
Optimal Set

In order to meet the lead time that the customers require, work-in-process inventory (WIPI) is necessary at almost every station in most make-to-order manufacturing. Depending on the station network configuration and lead time at each station, some of the WIPI do not contribute to reducing the manufacturing lead time of the final product at all. Therefore, it is important to identify the optimal set of stations to hold WIPI such that the total inventory holding cost is minimized, while the required due date for the final product is met. The authors have presented a model to determine the optimal position and quantity of WIPI for a given simple bill of material (S-BOM), in which any part in the BOM has only one immediate parent node. In this paper, we extend the previous study to the general BOM (G-BOM) in which parts in the BOM can have more than one immediate parent and present a new solution procedure using genetic algorithm.

scholarly journals Strategic WIP Inventory Positioning for Make-to-Order Production with Stochastic Processing Times

2017 ◽  
Vol 2017 ◽  
pp. 1-7 ◽  
Author(s):  
Jingjing Jiang ◽  
Suk-Chul Rim
Keyword(s):  
Lead Time ◽  
Processing Times ◽  
Work In Process ◽  
Make To Order ◽  
Stochastic Processing ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Wip Inventory ◽  
Inventory Holding ◽  
Stochastic Processing Times

It is vital for make-to-order manufacturers to shorten the lead time to meet the customers’ requirements. Holding work-in-process (WIP) inventory at more stations can reduce the lead time, but it also brings about higher inventory holding cost. Therefore, it is important to seek out the optimal set of stations to hold WIP inventory to minimize the total inventory holding cost, while meeting the required due date for the final product at the same time. Since the problem with deterministic processing times at the stations has been addressed, as a natural extension, in this study, we address the problem with stochastic processing times, which is more realistic in the manufacturing environment. Assuming that the processing times follow normal distributions, we propose a solution procedure using genetic algorithm.

Supervisi pendidikan

2020 ◽  
Author(s):  
nurul atika
Keyword(s):  
Public Relations ◽  
Educational Administration ◽  
Educational Goals ◽  
Literature Study ◽  
School Officials ◽  
Sourcing Strategies ◽  
Educational Supervision ◽  
Education Personnel ◽  
And Performance

Abstrak- In general, this study aims to determine and analyze the role of supervision in an education. This research uses the literature study method by collecting literature (material materials) sourced from books, journals, and other sources related to the science of Educational Administration. Supervision comes from the word super and vision, which means to see and review from above or view and assess from above, which is carried out by superiors on the activities, creativity and performance of subordinates. In terms of terms, in Carter's Good Dictionary Education, supervision is all the efforts of school officials in leading teachers and other education personnel to improve teaching. These include stimulating, selecting the growth and development of teachers' positions, selecting and revising educational goals, teaching materials and teaching methods, and evaluating teaching. Educational supervision has very important goals and benefits. The scope of educational supervision includes the following: Managerial supervision of the curriculum, Managerial supervision of student affairs, Managerial supervision of educators and education personnel, Managerial supervision of facilities and infrastructure, Managerial supervision of finance, Managerial supervision of public relations, Managerial supervision of administration, Administration supervision academics about learning, related to methods, sourcing strategies, and evaluations.

scholarly journals The Inventory Routing Problem with Demand Moves

2021 ◽  
Vol 2 (1) ◽  
Author(s):  
Annelieke C. Baller ◽  
Said Dabia ◽  
Guy Desaulniers ◽  
Wout E. H. Dullaert
Keyword(s):  
Urban Areas ◽  
Research Literature ◽  
Inventory Routing ◽  
Routing Problem ◽  
Inventory Routing Problem ◽  
Solution Approach ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Problem Instances ◽  
Inventory Holding

AbstractIn the Inventory Routing Problem, customer demand is satisfied from inventory which is replenished with capacitated vehicles. The objective is to minimize total routing and inventory holding cost over a time horizon. If the customers are located relatively close to each other, one has the opportunity to satisfy the demand of a customer by inventory stored at another nearby customer. In the optimization of the customer replenishments, this option can be included to lower total costs. This is for example the case for ATMs in urban areas where an ATM-user that wants to withdraw money could be redirected to another ATM. To the best of our knowledge, the possibility of redirecting end-users is new to the operations research literature and has not been implemented, but is being considered, in the industry. We formulate the Inventory Routing Problem with Demand Moves in which demand of a customer can (partially) be satisfied by the inventory of a nearby customer at a service cost depending on the quantity and the distance. We propose a branch-price-and-cut solution approach which is evaluated on problem instances from the literature. Cost improvements over the classical IRP of up to 10% are observed with average savings around 3%.

scholarly journals ELEMENTS OF SOURCING STRATEGIES IN FM SERVICES - A MULTIPLE CASE STUDY

2006 ◽  
Vol 10 (4) ◽  
pp. 249-267 ◽  
Author(s):  
Tomi Ventovuori
Keyword(s):  
Decision Making ◽  
Geographical Area ◽  
Multiple Case Study ◽  
Integrated Approach ◽  
Strategy Development ◽  
Sourcing Strategies ◽  
Sourcing Strategy ◽  
Starting Point ◽  
Multiple Case

The aim of this paper is to identify the different elements of the sourcing strategy decision‐making process and to clarify what are the factors that lead to the selection of a certain sourcing strategy in FM services. The study is based on a literature review and a multiple case study, which was conducted with four organizations representing different types of FM service clients. To find the optimal sourcing strategy and understand the consequences of different sourcing options, five decision categories must be analysed: sourcing interface, organizational decision‐making, the scope of service package, the geographical area of sourcing and relationship type. There are also some other elements that must be taken into account in the process of sourcing strategy development such as different elements of business in general and the prevailing market conditions. It is strongly suggested that companies could apply the presented integrated approach as a starting point for the development of sourcing strategies in FM services. In addition, this study shows that companies should view the development of sourcing strategies as an important phase of the procurement cycle.

Pengaruh Volume Perdagangan dan Retum terhadap Bid-Ask Spread

2007 ◽  
Vol 2 (2) ◽  
pp. 89
Author(s):  
Nico Yopida ◽  
Umi Murtini
Keyword(s):  
Stock Exchange ◽  
Trade Volume ◽  
Informational Asymmetry ◽  
Correction Model ◽  
Order Processing ◽  
Bid Ask Spread ◽  
Holding Cost ◽  
Inventory Holding ◽  
The Relationship

Bid ask spread is afunction of three components which are; order processing, inventory holding, and informational asymmetry. Although holding cost and infurmational asymmetry can not be directly obsertted and needs a specific measurement, these two costs are interesting to be examined. The present paper aims to observe empirical evidences about the relationship between trade and return as a holding cost meaurernent for bid-ask spread. The samples are drawn -fro* companies listed on Jakarta Stock Exchange (JSE and included in rneasurement factors of ILQ-45 fro* January 2004 until December 2004. Using Error Correction Model (ECM), the result shows that the relationship between a trade volume series, return, and bid-ask spread are not either relatively or absolutely having a long-term equilibrium.Keywords : Bid-ask spread, return, statianary, co-integration.

Some Studies in Multi-Storage Inventory System

2016 ◽  
pp. 176-200
Author(s):  
Shyamal Kumar Mondal
Keyword(s):  
Planning Horizon ◽  
Inventory System ◽  
Mixed Integer ◽  
Lot Size ◽  
Continuous Release ◽  
Demand Rate ◽  
Cycle Lengths ◽  
Holding Cost ◽  
Inventory Holding ◽  
And Storage

In this chapter, a multi-storage inventory system has been considered to develop a deterministic inventory model in finite planning horizon. Realistically, it is shown that due to large stock and insufficient space of existing own warehouse (OW); excess items are stored in single rented warehouse (RW). Due to different preserving facilities and storage environment, inventory holding cost is considered to be different in different warehouses. Here, the replenishment cycle lengths are of equal length, the demand rate is a continuous linear increasing function of time and partially backlogged shortages are allowed in all cycles. In each cycle, the replenishment cost is assumed to be dependent linearly on lot size and the stocks of RW are also transported to OW in continuous release pattern. The model is formulated as a constrained non-linear mixed integer cost objective function under single management. Finally, results with a sensitivity analysis have been shown with the help of a real coded GA.

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