scholarly journals The Fallacy of Zero Inventories for Purchased Parts in Small Manufacturing and Job Shops

2015 ◽  
Vol 4 (2) ◽  
pp. 55
Author(s):  
William E. Mueller ◽  
Gholam H. Massiha ◽  
Corinne Dupuy
Keyword(s):  
Real World ◽  
Manufacturing Industry ◽  
Job Shops ◽  
The Real ◽  
Storage Cost ◽  
Point Of Use ◽  
Handling Cost ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Inventory Holding

In this article we examine the soundness of receiving most vendor shipments just prior to the time of use and then immediately delivering them from the receiving area to the point of use by some small US manufacturing industry. This approach in theory would save handling cost, storage cost, and inventory holding cost, the real world offers numerous pitfalls, especially for smaller manufacturers and job shops.

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 VR FOR ASSEMBLY TASKS IN THE MANUFACTURING INDUSTRY – INTERACTION AND BEHAVIOUR

2020 ◽  
Vol 1 ◽  
pp. 1697-1706
Author(s):  
Y. Eriksson ◽  
M. Sjölinder ◽  
A. Wallberg ◽  
J. Söderberg
Keyword(s):  
Pilot Study ◽  
Real World ◽  
Manufacturing Industry ◽  
The Real ◽  
Assembly Tasks

AbstractA testbed was developed aiming to contribute to further knowledge on what is required from a VR application in order to be useful for planning of assembly tasks. In a pilot study the testbed was tested on students. The focus of the study was to explore the users’ behaviour, and to gain a better understanding of their experience using VR. The students experienced a gap between the real world and VR, which confirms theories that VR is not a copy or twin of an object or environment.

Revenue Sharing in a Two-Stage Supply Chain with Linear Stepwise Unit Inventory Holding Cost

2011 ◽  
pp. 254-274
Author(s):  
Jing Hou ◽  
Amy Z. Zeng ◽  
Lindu Zhao
Keyword(s):  
Supply Chain ◽  
Revenue Sharing ◽  
Sequential Optimization ◽  
Inventory Level ◽  
Two Stage ◽  
Channel Relationship ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Inventory Holding ◽  
Optimization Mechanism

In this chapter we focus on examining the coordination mechanisms for a two-stage supply chain comprising one supplier and one retailer. We consider such a channel relationship that the transaction quantity between the two members is sensitive to the supplier’s inventory level and that the supplier’s unit inventory holding cost has a linear stepwise structure. We devise a coordinated revenue-sharing contract with bargaining so that each party’s respective profit is better than that resulted from the simple sequential optimization mechanism. The key contract parameters, namely the supplier’s inventory level and the retailer’s revenue-sharing fraction, are obtained and analyzed. Numerical illustrations of the contracts are given and shed lights on how the supply chain should coordinate in order to gain better performance.

Contracts based on Inventory Cost Share for Supply Chain Coordination

2011 ◽  
pp. 126-138 ◽  
Author(s):  
Alejandra Gomez-Padilla
Keyword(s):  
Supply Chain ◽  
Supply Chain Coordination ◽  
The Other ◽  
Inventory Cost ◽  
Cost Share ◽  
Pricing Scheme ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Inventory Holding

In this document it is analyzed the importance of contracts for coordination between two companies in a supply chain. In the studied situation, one company, or supplier, supplies one product to the other company, who is a retailer. The companies are going to coordinate by two types of decisions: economic (concerning prices fixed on a contract), and physical exchange (concerning the inventory to be held). Two types of contracts will be presented: one contract with a simple pricing scheme and two contracts with inventory holding cost shared among the companies of the supply chain. The objective is to show that contracts with inventory holding cost share allow the two companies to efficiently coordinate the chain they form.

scholarly journals Behavior Analysis of Human Locomotion in the Real World and Virtual Reality for the Manufacturing Industry

2018 ◽  
Vol 15 (3) ◽  
pp. 1-19 ◽  
Author(s):  
Philipp Agethen ◽  
Viswa Subramanian Sekar ◽  
Felix Gaisbauer ◽  
Thies Pfeiffer ◽  
Michael Otto ◽  
...  
Keyword(s):  
Virtual Reality ◽  
Behavior Analysis ◽  
Real World ◽  
Manufacturing Industry ◽  
Human Locomotion ◽  
The Real

The Study of MTO Online Manufacturers' Guaranteed Delivery Time Model with Order Batching

2014 ◽  
Vol 933 ◽  
pp. 824-829
Author(s):  
Qiang Gang Zhu ◽  
Lei Liu ◽  
Yun Sheng Wang
Keyword(s):  
Lead Time ◽  
Delivery Time ◽  
Lot Size ◽  
Setup Cost ◽  
Time Model ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Inventory Holding ◽  
Cost Of Transportation ◽  
Marketing Approach

To MTO on-line manufacturers, one of the most popular time-based competitive strategies is to widely advertise a uniform delivery time guarantee to all the customers. While providing time guarantee can be an effective marketing approach, it is critical for firms to reduce lead time to keep the promise. Decreasing lot size in batching is one of the most important levers to compress lead time in operation. This research expands existing blanket delivery-time guarantee models by integrating operation approach and marketing approach. The online manufacturers guaranteed delivery time model with order batching is established. Some analytic results are provided, and numerical examples are conducted to provide further insight into the problem. The effects of batch processing setup cost, unit inventory holding cost and unit compression cost of transportation time are analyzed. The results indicate that when batch processing setup cost decrease, unit inventory holding cost or unit compression cost of transportation time increase, the online manufacturer should decrease the lot size and shorten the guaranteed delivery time. The customers time and price sensitivities have adverse influences on the manufacturers delivery time decision.

A MULTI-PERIOD INVENTORY MODEL FOR DETERIORATING ITEMS IN UNCERTAIN ENVIRONMENT

2013 ◽  
Vol 21 (supp01) ◽  
pp. 113-125 ◽  
Author(s):  
YUFU NING ◽  
LIMEI YAN ◽  
HUANBIN SHA
Keyword(s):  
Equivalent Form ◽  
Service Level ◽  
Deteriorating Items ◽  
Inventory Problem ◽  
Total Cost ◽  
Uncertain Variables ◽  
Holding Cost ◽  
Inventory Holding Cost ◽  
Expected Total Cost ◽  
Inventory Holding

A model is constructed for a type of multi-period inventory problem with deteriorating items, in which demands are assumed to be uncertain variables. The objective is to minimize the expected total cost including the ordering cost, inventory holding cost and deteriorating cost under constraints that demands should be satisfied with some service level in each period. To solve the model, two methods are proposed in different cases. When uncertain variables are linear, a crisp equivalent form of the model is provided. For the general cases, a hybrid algorithm integrating the 99-method and genetic algorithm is designed. Two examples are given to illustrate the effectiveness of the model and solving methods.

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