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We consider the reorder point, order quantity inventory model where the demand, D, and the lead time, L, are independently and identically distributed (iid) random variables. This model is analytically intractable because of order crossover. However, we show how to resolve the intractability by...
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We develop an open information standard to assist supply chain modeling, analysis, and decision support. The Supply Chain Modeling Language (SCML) is a platform- and methodology-independent Extensible Markup Language (XML)-based markup language for storing supply chain structural and managerial...
Persistent link: https://www.econbiz.de/10005277796
We use exponential lead times to demonstrate that reducing mean lead time has a secondary reduction of the variance due to order crossover. The net effect is that of reducing the inventory cost, and if the reduction in inventory cost overrides the investment in lead time reduction, then the lead...
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An almost universal assumption in the bullwhip effect modeling literature is that excess goods may be returned without restriction. We seek to determine if returns impact the level of bullwhip effect observed in a multi-stage supply chain. We build a hybrid agent/discrete-event simulation model...
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We borrow the term 'static stochastic' from the classification of order crossover by Riezebos [2006, Inventory Order Crossovers. International Journal of Production Economics, 104(2), p. 668]. The term 'static stochastic' refers to iid lead times, with its consequence of order crossovers. Here,...
Persistent link: https://www.econbiz.de/10005348136
When supply lead times are uncertain, the simultaneous procurement from two sources offers savings in inventory holding and shortage costs. Economies are achieved if these savings outweigh the increase in ordering costs. In this paper we analyze dual sourcing in the context of the "reorder...
Persistent link: https://www.econbiz.de/10009218016