Journal of the Korea Safety Management & Science (대한안전경영과학회지)

Korea Safety Management & Science (대한안전경영과학회)
권호 표지

Inventory Policies for Multi-echelon Serial Supply Chains with Normally Distributed Demands

정규분포를 따르는 다단계 시리얼 공급사슬에서의 재고 정책

  • 권익현 (고려대학교 정보통신기술연구소) ;
  • 김성식 (고려대학교 산업시스템정보공학과)
  • Published : 2006.06.30
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Abstract

The main focus of this study is to investigate the performance of a clark-scarf type multi-echelon serial supply chain operating with a base-stock policy and to optimize the inventory levels in the supply chains so as to minimize the systemwide total inventory cost, comprising holding and backorder costs as all the nodes in the supply chain. The source of supply of raw materials to the most upstream node, namely supplier, is assumed to have an infinite raw material availability. Retailer faces random customer demand, which is assumed to be stationary and normally distributed. If the demand exceeds on-hand inventory, the excess demand is backlogged. Using the echelon stock and demand quantile concepts and an efficient simulation technique, we derive near optimal inventory policy. Additionally we discuss the derived results through the extensive experiments for different supply chain settings.

Keywords

References

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