'Shortage cost' presentation slideshows

ANALYSIS OF INVENTORY MODEL Notes 2 of 2

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Joe Ashpari John Crain

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The supply chain

The supply chain. Retailer Distributor Wholesaler Manufacturer Flow of goods. Customer. Manufacturer. Distributor. Wholesaler. Retailer. The supply chain. Flow of Information Delays (lead times) Information delays Transportation delays. Production. D. Orders. W. Orders.

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Outline

Outline. single-period stochastic demand without fixed ordering cost base-stock policy minimal expected cost maximal expected profit ( s , S ) policy: minimal expected cost. Single-Period Problem. Common Features. stochastic demands how many items to order

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A Workshop honoring Gideon Weiss, 2012, Yonit Barron & David Perry.

A Workshop honoring Gideon Weiss, 2012, Yonit Barron & David Perry. The Make-To-Stock concept was very common in the past. Companies manufactured inventory in order to feel safe and secure. But, inventory cost a lot of money and was very expensive.

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Example 15.5 Aggregate Planning at SureStep

Example 15.5 Aggregate Planning at SureStep. Aggregate Planning Models. Objective. To use LP to find the staffing and production schedules that minimize total cost, both without and with backlogging of demand. Background Information.

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Inventory

Inventory. Inventory is the stock of goods, commodities or other economic resources that are stored for the smooth and efficient running of a business. It may be in any of the following forms (i) Raw material inventory (ii)Work in process inventory (iii)Finished goods inventory.

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Classic model

Classic model. Wilson (1934), in this classic paper, he breaks the inventory control problem into two distinct parts: 1. Determining the order quantity, which is the amount of inventory that will be purchased or produced with each replenishment.

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Classic model

Classic model. Wilson (1934), in this classic paper, he breaks the inventory control problem into two distinct parts: 1. Determining the order quantity, which is the amount of inventory that will be purchased or produced with each replenishment.

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Cash and Liquidity Management - Appendix

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Cash and Liquidity Management - Appendix

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Inventory Manager

Inventory Manager. Chapter 13 in W&A External vs Internal Demand Material Req. Planning (MRP) Stockless Production (JIT) Inventory = Money without interest! Forecasting => D and StDev Sd Orders, Production Batches. Inventory Costs. Ordering/ Setup Cost K Minor/Major Setup Cost

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An (s, S) Inventory Simulation (Model 5-4)

An (s, S) Inventory Simulation (Model 5-4). Single-item (widgets), managed by (s, S) Policy s = 20, S = 40, Initial Inventory = 60. Starting Net Inventory of day t , I ( t ), is reviewed If I ( t ) < s, place an order to bring I(t) up to S

288 views • 1 slides