Academic literature on the topic 'Optimal inventory management'
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Journal articles on the topic "Optimal inventory management"
Jakšič, M., and J. C. Fransoo. "Optimal inventory management with supply backordering." International Journal of Production Economics 159 (January 2015): 254–64. http://dx.doi.org/10.1016/j.ijpe.2014.09.015.
Full textAgrawal, Narendra, and Stephen A. Smith. "Optimal inventory management using retail prepacks." European Journal of Operational Research 274, no. 2 (April 2019): 531–44. http://dx.doi.org/10.1016/j.ejor.2018.10.014.
Full textTayi, Giri Kumar. "Optimal inventory cycle counting." Omega 13, no. 6 (January 1985): 535–39. http://dx.doi.org/10.1016/0305-0483(85)90041-6.
Full textBaradel, Nicolas, Bruno Bouchard, David Evangelista, and Othmane Mounjid. "Optimal inventory management and order book modeling." ESAIM: Proceedings and Surveys 65 (2019): 145–81. http://dx.doi.org/10.1051/proc/201965145.
Full textSu, Shou-Mei, and Shy-Der Lin. "The Optimal Inventory Policy of Production Management." Engineering 05, no. 05 (2013): 9–13. http://dx.doi.org/10.4236/eng.2013.55a002.
Full textWagner, Michael R. "Robust Inventory Management: An Optimal Control Approach." Operations Research 66, no. 2 (April 2018): 426–47. http://dx.doi.org/10.1287/opre.2017.1669.
Full textStoikova, L. S. "Optimal inventory management under incomplete demand information." Cybernetics and Systems Analysis 27, no. 4 (1992): 573–80. http://dx.doi.org/10.1007/bf01130369.
Full textRaviv, Tal, and Ofer Kolka. "Optimal inventory management of a bike-sharing station." IIE Transactions 45, no. 10 (October 2013): 1077–93. http://dx.doi.org/10.1080/0740817x.2013.770186.
Full textZhang, Mingyang, Xufeng Yang, Taichiu Edwin Cheng, and Chen Chang. "Inventory Management of Perishable Goods with Overconfident Retailers." Mathematics 10, no. 10 (May 17, 2022): 1716. http://dx.doi.org/10.3390/math10101716.
Full textSun, Pei Hong, Lei Tang, and Li Ying Tang. "Application of Optimal Control in Inventory Management of Production." Applied Mechanics and Materials 29-32 (August 2010): 2503–8. http://dx.doi.org/10.4028/www.scientific.net/amm.29-32.2503.
Full textDissertations / Theses on the topic "Optimal inventory management"
Máková, Barbora. "Hedge Ratio Estimation in Inventory Management." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-198395.
Full textlyer, Nurani Vishwanathan Parameshwaran. "Optimal inventory model for managing demand-supply mismatches for perishables with stochastic supply." Thesis, Massachusetts Institute of Technology, 2019. https://hdl.handle.net/1721.1/122255.
Full textCataloged from PDF version of thesis.
Includes bibliographical references (pages 52-53).
While festivals bring a reason to cheer for everyone, businesses dealing with a spike in demand for perishables may have to live with the misery of lost sales and/or expired items. In the case of the dairy industry that deals with liquid milk, both raw material, and finished goods are perishable, which implies that merely stockpiling inventory of either item, without paying attention to potential inventory losses, cannot be an optimal strategy. In developing countries, the supplier base for perishables like milk, fruits, vegetables, flowers, etc. mostly comprise of small farmers instead of corporate/professional agencies, thus leading to supply variability. During special occasions like festivals, as individuals set aside more of the raw material for their own consumption, we encounter a reduction in supply. Around the same time, we notice a spike in customer demand, leading to a demand-supply mismatch. Companies dealing with perishables need an analytical approach to manage this.
In this thesis, we present a framework to address this problem of intermittent demand-supply mismatch using a 3-stage stochastic optimization model. We decide on the sourcing targets, the production plans based on supply realized, and finally, the dispatch plan based on orders received. As a case study, we analyze the operations and data from a private dairy company in eastern India, to understand the research problem and the applicability of the resulting model. We notice the impact of demand spikes and supply reduction in two areas: we increase supply targets in the periods preceding the demand spike; and we increase supply targets in periods when supply is expected to decrease, while demand is as usual. When there are multiple festival days within the time series, the compounding of impact depends on the sequencing of the events.
Finally, when we introduce the realistic constraint that the supply target needs to be constant throughout the time series, we see a degradation in the profitability, as we need to tradeoff between lost sales and wasted products. While the focus of this case study is the dairy industry, the conclusions from this research are broadly applicable to other industries dealing with perishables.
by Vishwanathan Parameshwaran lyer Nurani.
M. Eng. in Supply Chain Management
M.Eng.inSupplyChainManagement Massachusetts Institute of Technology, Supply Chain Management Program
Güller, Mustafa [Verfasser], and Bernd [Akademischer Betreuer] Noche. "Optimal Inventory Control and Distribution Network Design of Multi-Echelon Supply Chains / Mustafa Güller. Betreuer: Bernd Noche." Duisburg, 2016. http://d-nb.info/1102896934/34.
Full textWeber, Martin. "Optimal inventory control in the presence of dynamic pricing and dynamic advertising." Doctoral thesis, Humboldt-Universität zu Berlin, 2015. http://dx.doi.org/10.18452/17339.
Full textThis dissertation analyzes the optimal coordination of dynamic pricing, dynamic advertising, and inventory management. We consider different optimization problems for a monopolistic retailer who faces a time-dependent deterministic demand. In Chapter 2, we generalize the model of Rajan et al. (1992). The retailer is allowed to choose a dynamic price, a dynamic advertising rate, and the inventory capacity for a sales period of fixed length so that the present value of revenue minus inventory, purchasing and (nonlinear) advertising costs is maximized; in addition, the inventory deteriorates at an exponential rate. We derive the optimal dynamic price-advertising control and the optimal capacity and also consider partially static cases. For the optimally controlled dynamic model we carry out a sensitivity analysis with respect to the model parameters and we compare the results of the dynamic model with those of the partially static models. In Chapter 3, we interpret the sales process as the controlled adoption process of a new product and the inventory capacity as untapped market share. The initial state is assumed to be exogenously given and the demand depends on the current state of the system. We exclude, however, deterioration effects and any other costs but the cost of advertising. We derive the optimal controls using a different technique than Helmes et al. (2013) - we apply Pontryagin’s maximum principle. As an interesting application we consider the controlled von Bertalanffy model. In Chapter 4, we extend the analysis of one-period models to multi-period and longterm average models. Assuming that the optimal controls derived in Chapter 2 and Chapter 3 are applied throughout a cycle, we treat the cycle length and the capacity as decision variables. We derive conditions that ensure the existence of an optimal pair of cycle length and capacity. Various examples and illustrations are given, and structural properties of the optimal pair are verified.
Козлова, Юлія Юріївна. "Оптимальне управління запасами, як один із механізмів подолання кризового явища." Thesis, Національної академії Національної гвардії України, 2017. http://repository.kpi.kharkov.ua/handle/KhPI-Press/35023.
Full textSatir, Benhur. "An Analysis Of Benefits Of Inventory And Service Pooling And Information Sharing In Spare Parts Management Systems." Phd thesis, METU, 2010. http://etd.lib.metu.edu.tr/upload/3/12612073/index.pdf.
Full textMandl, Christian [Verfasser], Stefan [Akademischer Betreuer] Minner, Stefan [Gutachter] Minner, and Srinagesh [Gutachter] Gavirneni. "Optimal Procurement and Inventory Control in Volatile Commodity Markets : Advances in Stochastic and Data-Driven Optimization / Christian Mandl ; Gutachter: Stefan Minner, Srinagesh Gavirneni ; Betreuer: Stefan Minner." München : Universitätsbibliothek der TU München, 2019. http://d-nb.info/1190818779/34.
Full textHuarca, Guevara Kevin Paolo, and Ricalde Harless Hanset Ninahuanca. "Análisis correlacional entre los costos evitables en operaciones de importación marítima y nivel de servicio: el caso de una empresa." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2018. http://hdl.handle.net/10757/626038.
Full textThe objective of this thesis is to identify if there is any correlation between the avoidable costs in maritime import operations and the level of service provision, showing results on the implementation carried out in one of the main companies in the import and distribution of professional gastronomic equipment category from the city of Lima. After implementing the approved implementation for 2017, avoidable costs in maritime import operations were reduced by 13.85% compared to the previous period. It was shown that the avoidable costs (r = 0.75) has a high and positive relationship with the service level, that is to say that as they decrease and the company stops assuming these, their level of service may be better. For the presentation there is a structure of five chapters: In the first chapter, the theoretical framework, detailed concepts related to avoidable costs in maritime import operation, service level, optimal quantity to order, safety inventory, reorder point and total inventory management costs. In addition, information was shown about the company where the improvements were implemented. In the second chapter, topics were explained in relation to the research plan, making known the problem, the formulation of the hypothesis, the general objective and the specific ones. In the third chapter, the methodology of the research was discussed, where the approach and design, the population, the definition of variables and the data collection were determined. In the fourth chapter, the research was developed calculating avoidable costs in 3 levels of service. Two scenarios were established (with avoidable costs and no avoidable costs) to the sub-variables service levels, optimal quantity to be ordered, security inventory, reorder point and total inventory management costs. Finally, the fifth chapter showed the analysis of results answering the problem if there is a correlation between the avoidable costs in maritime import operation and the level of service provision, and we will provide conclusions and recommendations on the research developed.
Tesis
Fang, Jianxin. "Analyse et algorithmes de résolution de systèmes ATO (Assemble-To-Order) : Applications aux systèmes du type W." Thesis, Ecole centrale de Lille, 2017. http://www.theses.fr/2017ECLI0012/document.
Full textWe analyze a W-configuration assemble-to-order system with random lead times, random arrival of demand, and lost sales, in continuous time. We formulate the problem as an infinite-horizon Markov decision process. We deviate from the standard approach by first characterizing a region (the recurrent region) of the state space where all properties of the cost function hold. We then characterize the optimal policy within this region. In particular, we show that within the interior of the recurrent region components are always produced. We also characterize the optimal component allocation policy which specifies whether an arriving product demand should be fulfilled. Our analysis reveals that the optimal allocation policy is counter-intuitive. For instance, even when one product dominates the other, in terms of lost sale cost and lost sale cost rate (i.e., demand rate times the lost sale cost), its demand may not have absolute priority over the other product’s demand. Such a feature has not been observed in many integrated production/inventory settings where inventory allocation follows a fixed priority in satisfying demands. We also show that the structure of the optimal policy remains the same for systems with batch production, Erlang distributed production times, and non-unitary product demand. Finally, we propose efficient heuristics that can be either used as a substitute for the optimal policy or can be used as a starting policy for the common algorithms that are used to obtain the optimal policy in an effort to reduce their computational time
Tulpule, Pinak J. "Control and optimization of energy flow in hybrid large scale systems - A microgrid for photovoltaic based PEV charging station." The Ohio State University, 2011. http://rave.ohiolink.edu/etdc/view?acc_num=osu1313522717.
Full textBooks on the topic "Optimal inventory management"
Sherbrooke, Craig C. Optimal Inventory Modeling of Systems: Multi-Echelon Techniques (International Series in Operations Research & Management Science). 2nd ed. Springer, 2004.
Find full textBook chapters on the topic "Optimal inventory management"
De Cuypere, Eline, Koen De Turck, Herwig Bruneel, and Dieter Fiems. "Optimal Inventory Management in a Fluctuating Market." In Analytical and Stochastic Modeling Techniques and Applications, 158–70. Berlin, Heidelberg: Springer Berlin Heidelberg, 2013. http://dx.doi.org/10.1007/978-3-642-39408-9_12.
Full textShah, Nita H., and Milan B. Patel. "Retailer’s Optimal Ordering Policy Under Supplier Credits When Demand is Fuzzy and Cloud Fuzzy." In Soft Computing in Inventory Management, 1–17. Singapore: Springer Singapore, 2021. http://dx.doi.org/10.1007/978-981-16-2156-7_1.
Full textSieke, Marcel. "Optimal Inventory Allocation for Multiple Retailers under Service Level Contracts." In Supply Chain Contract Management, 77–107. Wiesbaden: Springer Fachmedien Wiesbaden, 2008. http://dx.doi.org/10.1007/978-3-658-24382-1_5.
Full textKurtulus, Ibrahim S. "Optimal and Heuristic Solutions for the Spare Parts Inventory Control Problem." In Service Parts Management, 221–31. London: Springer London, 2011. http://dx.doi.org/10.1007/978-0-85729-039-7_11.
Full textYao, David D., and Shaohui Zheng. "Optimal Inventory Control with Substitution: Single- and Multi-Period Models." In International Series in Operations Research & Management Science, 177–201. Boston, MA: Springer US, 2003. http://dx.doi.org/10.1007/978-1-4615-0373-6_8.
Full textKapuscinski, Roman, and Sridhar Tayur. "Optimal Policies and Simulation-Based Optimization for Capacitated Production Inventory Systems." In International Series in Operations Research & Management Science, 7–40. Boston, MA: Springer US, 1999. http://dx.doi.org/10.1007/978-1-4615-4949-9_2.
Full textBertazzi, L., D. P. Bertsekas, and M. G. Speranza. "Optimal and Neuro—Dynamic Programming Solutions for a Stochastic Inventory Transportation Problem." In Models, Methods and Decision Support for Management, 65–78. Heidelberg: Physica-Verlag HD, 2001. http://dx.doi.org/10.1007/978-3-642-57603-4_4.
Full textCesaro, Annalisa, and Dario Pacciarelli. "Optimal Stock Allocation in Single Echelon Inventory Systems Subject to a Service Constraint." In Uncertainty Management in Simulation-Optimization of Complex Systems, 251–71. Boston, MA: Springer US, 2015. http://dx.doi.org/10.1007/978-1-4899-7547-8_11.
Full textWu, Cheng-feng, and Qiu-hong Zhao. "Optimal Ordering Policies with Time-Varying and Inventory-Dependent Demand Under Trade Credit Financing." In Proceedings of the 6th International Asia Conference on Industrial Engineering and Management Innovation, 423–35. Paris: Atlantis Press, 2015. http://dx.doi.org/10.2991/978-94-6239-148-2_42.
Full textGovindasamy, C., and A. Antonidoss. "Effect of Hybrid Multi-Verse with Whale Optimization Algorithm on Optimal Inventory Management in Block Chain Technology with Cloud." In Innovations in Computer Science and Engineering, 483–92. Singapore: Springer Singapore, 2021. http://dx.doi.org/10.1007/978-981-33-4543-0_52.
Full textConference papers on the topic "Optimal inventory management"
Yuan, X. M., Z. L. Tan, and A. S. Bhullar. "Optimal inventory policies for remanufacturing inventory systems with multiple returns." In 2014 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2014. http://dx.doi.org/10.1109/ieem.2014.7058865.
Full textYing-jun, Li, and Chen Zhi-xiang. "Optimal integrated production-inventory system for defective items." In 2013 International Conference on Management Science and Engineering (ICMSE). IEEE, 2013. http://dx.doi.org/10.1109/icmse.2013.6586348.
Full textGunter, Kenneth L., and John W. Sutherland. "Analytical Models for Economic Demanufacturing Inventory Management." In ASME 2004 International Mechanical Engineering Congress and Exposition. ASMEDC, 2004. http://dx.doi.org/10.1115/imece2004-61446.
Full textHan, Xia, and Wen-fang Shang. "Optimal inventory policy with limited storage capacity and uncertain demand." In 2008 International Conference on Management Science and Engineering (ICMSE). IEEE, 2008. http://dx.doi.org/10.1109/icmse.2008.4668960.
Full textYou-jun, Zhou, Cao Liang, and Pan Yi-qian. "The optimal inventory model with many orders and permissible shortage." In 2011 International Conference on Management Science and Engineering (ICMSE). IEEE, 2011. http://dx.doi.org/10.1109/icmse.2011.6069964.
Full textIgnaciuk, P., and A. Bartoszewicz. "LQ optimal and time-varying sliding modes for inventory management systems." In 2009 IEEE International Conference on Control Applications (CCA). IEEE, 2009. http://dx.doi.org/10.1109/cca.2009.5281104.
Full textSiek, Michael, and Kevin Guswanto. "Developing Accurate Predictive Model Using Computational Intelligence for Optimal Inventory Management." In 2021 13th International Conference on Information & Communication Technology and System (ICTS). IEEE, 2021. http://dx.doi.org/10.1109/icts52701.2021.9608492.
Full textTai, Allen H. "Optimal replenishment policy for inventory systems with an unreliable supplier." In 2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2017. http://dx.doi.org/10.1109/ieem.2017.8290121.
Full textAsl, Farshid Maghami, and A. Galip Ulsoy. "Capacity Management in Reconfigurable Manufacturing Systems With Stochastic Market Demand." In ASME 2002 International Mechanical Engineering Congress and Exposition. ASMEDC, 2002. http://dx.doi.org/10.1115/imece2002-32872.
Full textZhang, Jie, and Baozhuang Niu. "Optimal pricing and inventory policy with delayed payments and order cancelations." In 2013 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM). IEEE, 2013. http://dx.doi.org/10.1109/ieem.2013.6962384.
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