Inventory Control In A Multi-Supplier System
- Topics:
- Inventory Management
- Tags:
- Channel Management,
- Decision Variable,
- Inventory Control,
- Management,
- Marketing,
- Strategic Planning,
- Strategy,
- Supplier
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Overview: An enterprise network is analyzed from the viewpoint of an end-product manufacturer who receives customer orders and organises his production and supply policy so as to minimize the sum of his average holding cost and average stock-out cost. For each main component to be ordered, the producer has several possible suppliers. The arrivals of customers' orders are random and delivery times from suppliers are also supposed random. This supply system is represented as a queuing network where the producer uses a base-stock inventory control policy that keeps constant the inventory position level (current inventory level + pending replenishment orders). The decision variables are the reference inventory position level and the percentages of orders sent to the different suppliers.
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Format: PDF | Size: 220KB | Date: Jan 2005 | Pages: 20
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