Journal of the Operational Research Society · 1993 · 67 citations · 9 references
ManagementIndustrial EngineeringOperations ManagementInventory ControlInventory ManagementProduction PlanningInventory Management SystemsInventory OptimizationInventory ReductionInventory StrategyInventory TheoryMulti-echelon Inventory SystemsInventory Capacity SizingInventory Level OptimizationInventory LevelingMulti-echelon Lot SizingMulti-stage Production ConstraintsOptimal Inventory LevelsOptimization Under Inventory ConstraintsProduction-inventory Systems
The optimal design of a supply chain was approached in two phases by using: (1) a mathematical programming formulation and heuristic solution approach to minimize the distinct number of product types held at various points in the supply chain; and (2) a spreadsheet inventory model to estimate the safety stock needed to absorb random fluctuations in both demand and lead time throughout the system. This two-phased approach allowed management to quantify the effects of inventory required for locating parts of the supply chain in different geographic areas. The quantification of projected inventory requirements was a critical input used by senior management to clarify their final decision-making process.
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Decision Rules for Inventory Management
Raymond P. Lutz · Technometrics · 1968 · 269 citations
Management, Industrial Engineering, Operations Management +14