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http://dx.doi.org/10.5302/J.ICROS.2010.16.5.476

Optimal Design of Process-Inventory Network Considering Late Delivery Costs  

Suh, Kuen-Hack (부경대학교)
Yi, Gyeong-Beom (부경대학교)
Publication Information
Journal of Institute of Control, Robotics and Systems / v.16, no.5, 2010 , pp. 476-480 More about this Journal
Abstract
This study deals with stockout costs in the supply chain optimization model under the framework of batch-storage network. Stockout is very popular in chemical industries. Estimating stockout cost involves an understanding of customer reactions to a seller being out of stock at the time the customer wants to buy an item. This involves massively non-trivial work such as direct customer interviews and extensive mail survey. In this study, we will introduce a new interpretation of stockout costs combined with batchstorage network optimization model and thus suggest an easy way of estimating stockout costs. Optimization model suggest that optimal process and storage sizes considering stockout cost are smaller than those that do not consider stockout cost. An illustrative example support the analytical results.
Keywords
optimal lot size; process-inventory network; stockout cost;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
Times Cited By SCOPUS : 1
연도 인용수 순위
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