• Title/Summary/Keyword: Inventory Costs

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Reusable Network Model using a Modified Hybrid Genetic Algorithm in an Optimal Inventory Management Environment (최적 재고관리환경에서 개량형 하이브리드 유전알고리즘을 이용한 재사용 네트워크 모델)

  • Lee, JeongEun
    • Journal of Korea Society of Industrial Information Systems
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    • v.24 no.5
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    • pp.53-64
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    • 2019
  • The term 're-use' here signifies the re-use of end-of-life products without changing their form after they have been thoroughly inspected and cleaned. In the re-use network model, the distributor determines the product order quantity on the network through which new products are received from the suppliers or products are supplied to the customers through re-use of the recovered products. In this paper, we propose a reusable network model for reusable products that considers the total logistics cost from the forward logistics to the reverse logistics. We also propose a reusable network model that considers the processing and disposal costs for reuse in an optimal inventory management environment. The authors employe Genetic Algorithm (GA), which is one of the optimization techniques, to verify the validity of the proposed model. And in order to investigate the effect of the parameters on the solution, the priority-based GA (priGA) under three different parameters and the modified Hybrid GA (mhGA), in which parameters are adjusted for each generation, were applied to four examples with varying sizes in the simulation.

Bridge Life Cycle Cost Analysis of Preventive Maintenance (예방적 유지관리를 통한 교량의 생애주기비용 절감 효과 분석)

  • Jeong, Yo-Seok;Kim, Woo-Seok;Lee, Il-Keun;Lee, Jae-Ha
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.20 no.6
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    • pp.1-9
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    • 2016
  • The paper aims at evaluating effects of preventive maintenance on life cycle cost(LCC) reduction of bridges. The preventive maintenance activities capable to delay bridge deteriorations can reduce overall maintenance costs and extend service life of a bridge by regularly providing maintenance activities and avoiding larger maintenance(repairs or rehabilitations) costs. Couple of prediction models were proposed in order to calculate LCC of a typical bridge: a health score model and repair rehabilitation cost model. In addition, the maintenance activities such as wash and painting were also suggested in order to consider effects of preventive maintenance in the analysis based on literature reviews. According to analysis results, new maintenance strategy(reactive maintenance + preventive maintenance) can save \0.5 billion per bridge for future life-cycle costs over 100 year analysis or \184 billion for entire HBMS(Highway Bridge Management System) inventory over 20 years. Small investments for preventive maintenance in improved bridge management can have a very significant return when considering the large bridge inventory.

Mixture Study for Early-age Strength Improvement of NAC-typed High-strength Concrete Piles (NAC 방식 고강도 콘크리트 파일의 초기강도증진을 위한 배합에 대한 연구)

  • Yi, Seong Tae;Noh, Jae Ho;Heo, Hyung Seok
    • Journal of the Korea institute for structural maintenance and inspection
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    • v.16 no.2
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    • pp.58-64
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    • 2012
  • Due to the influence of global oil prices, industrial productivity, which oil consumption is high, was significantly reduced. AC type of high-strength PHC piles is being manufactured through twice the steam curing process and this have resulted in a significant rise for product's manufacturing costs. NAC way other types of file manufacturing process has the advantage of reducing manufacturing costs by a turn of the steam curing. Nevertheless, because the initial strength be poor than that of AC method, shipment is being after the curing period of approximately three days. In addition, the growth of the product enhance with curing period can not be avoided, as a result, cost of inventory is acting as the rise. Piles by the AC method is immediately shipped after curing, damaging problems does not occur when they are introduced to the field site (for example, pile on-site). In the case of NAC, however, at least after the curing period of three days and after expressing the strength of 80 MPa or more, they are shipped on the scene. Therefore, NAC type has problems as follows: (1) increase in moderate inventory holding costs with type and (2) breakage in the field due to lack of strength. In this study, for NAC-typed PHC files, mixing characteristics research for the strength development at 1 day equivalent to AC method were conducted and strength characteristics with changes of original materials were evaluated were also identified.

Distributor's pricing and ordering policies with linearly price dependent demand for decaying products under order-size-dependent delay in payments (주문량의 크기에 따라 신용거래 기간이 허용되는 상황하에 선형적으로 감소하는 고객 수요를 고려한 퇴화성제품의 최적 가격 및 재고정책)

  • Shinn, Seong-Whan
    • The Journal of the Convergence on Culture Technology
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    • v.8 no.3
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    • pp.485-491
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    • 2022
  • The traditional economic order quantity (EOQ) model is analyzed under the basic assumption that the purchase price is paid immediately upon receiving the product. However, product suppliers may allow a certain period of deferral of payment for product purchase costs in order to differentiate themselves from competitors. From the distributor's point of view, such a credit transaction can temporarily divert product purchase costs, resulting in a reduction in inventory investment costs, and ultimately, a factor that lowers the selling price for the purpose of increasing end-customer demand can be. In addition, in that credit transactions are provided for the purpose of increasing the demand of suppliers as a means of differentiation from competitors, it is more general to be allowed flexibly according to the transaction volume. In this regard, assuming that the end customer's demand is represented by a linear decreasing function of the distributor's selling price, this study analyzes a model for determining the distributor's pricing and ordering policies under order-size-dependent delay in payments. For the analysis, we also assume that the inventory is depleted not only by customer's demand but also by decaying.

The Effects of Slow Steaming on the Liners' Operating Strategy

  • Woo, Jong-Kyun
    • Journal of Navigation and Port Research
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    • v.38 no.6
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    • pp.567-575
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    • 2014
  • In recent times, an obvious strategy in liner shipping markets that has come to the fore is slow steaming. Nowadays, most liner shipping companies have decelerated the voyage speed to 15-18 knots on major routes, and some leading liner shipping companies have a plan to reduce it to below 15 knots. Slow steaming is helpful in reducing the operating cost and the amount of greenhouse-gas emissions on a single vessel with lower fuel consumption. However, it also creates various negative effects such as the opportunity cost, additional fixed costs and an in-transit inventory cost on a loop. Hence, the net operating cost on a loop is changing dynamically due to the changes of voyage speed based on various slow steaming effects. The aim of this study is to analyze the slow steaming effects in the liner shipping, and to find the best voyage speed that minimizes the operating cost on a loop. Moreover, this study suggests the recommendable strategy for liner shipping companies. To achieve the aim of this study, a simulation model has been designed using System Dynamics.

Designing Racks for Transporting Flat Glass Products in a Construction Industry (건설 산업용 판유리 운반을 위한 랙 설계)

  • Kwon, Kyung Jin;Hong, Soondo;Kim, Kap Hwan
    • Journal of Korean Institute of Industrial Engineers
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    • v.42 no.4
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    • pp.270-279
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    • 2016
  • A glass product manufacturing company transports a large number of flat glass products from a manufacturing firm to a building construction site. The products are transported using specially designed racks, which assure fewer glass breakages during the deliveries. This study determines the sizes of the racks which minimize the total logistics cost including costs for rack purchasing, handling, transportation, and inventory costs. The determination of the rack size should consider tradeoff relationships between the amount of glasses piled in a rack and the number of racks loaded on a truck, and affects the required number of racks and the truck operational cost. A truck loading algorithm is proposed to maximize a high truck utilization, and an enumeration method is proposed to determine the optimal combination of rack sizes considering the total logistics cost. The numerical example is solved by using a real data.

A Dynamic Lot-Sizing and Outbound Dispatching Problem with Delivery Time Windows and Heterogeneous Container Types (납품시간창과 다종의 컨테이너를 고려한 동적 로트크기결정 및 아웃바운드 디스패칭 문제)

  • Seo, Wonchul;Lee, Woon-Seek
    • Journal of Korean Institute of Industrial Engineers
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    • v.40 no.4
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    • pp.435-441
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    • 2014
  • This paper considers a single-product problem for inbound lot-sizing and outbound dispatching at a third-party warehouse, where the demand is dynamic over the discrete time horizon. Each demand must be delivered into the corresponding delivery time window which is the time interval characterized by the earliest and latest delivery dates of the demand. Ordered products are shipped by heterogeneous container types. Each container type has type-dependent carrying capacity and the unit freight cost depends on each container type. Total freight cost is proportional to the number of each container type used. Also it is assumed that related cost functions are concave and backlogging is not allowed. The objective of the paper is to simultaneously determine the optimal inbound lot-sizing and outbound dispatching plans that minimize total costs which include ordering, shipping, and inventory holding costs. The optimal solution properties are characterized for the problem and then a dynamic programming algorithm is presented to find the optimal solution.

AN ASSESSMENT SYSTEM OF ECO-FRIENDLINESS OF CONSTRUCTED FACILITY IN THE DESIGN PHASE USING VALUE ENGINEERING

  • Byung-Soo, Kim;Dong-Eun, Lee;Suk-Hyun, Kwon;Min-Kwon, Choe
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.1625-1629
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    • 2009
  • The new paradigm called 'Low Carbon Green Growth' involved in reducing greenhouse gas is on the rise as a critical issue worldwide. The essential of Kyoto protocol issued in 1997 is to achieve the sustainable economic growth environments by converting existing production system to eco-friendly one. The protocol imposes the liability to reduce greenhouse gas to the countries joined to it. The paradigm is directly involved in the energy consumption and environmental pollution caused by construction activities. Value Engineering which are mainly applied in the design phase in practice is a measure to improve the value of a constructed facility by analyzing and/or appraising the functions and costs of it. However, an appropriate method which assesses eco-friendliness of constructed facility has not been propose by researchers. This paper proposes a method which assesses the performance involved in eco-friendliness of constructed facility using Value Engineering (VE) in the design phase. The method estimates the environmental cost relative to the amounts of energy consumption and environmental pollution occurred over the entire project life cycle. The database called "Life Cycle Inventory DB", which stores information about the amounts of environmental pollution, is used. The algorithm which retrieves the amounts of environmental pollutions from the DB and converts them into environmental costs is developed. The algorithm is implemented into a system which quantifies the eco-friendliness of constructed facility in the design phase using VE.

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Research on optimal cost calculation for efficient maintenance of offshore wind farms (해상풍력단지의 효율적인 유지보수를 위한 최적 비용 산출 연구)

  • Hui-Seok Gu;In-Cheol Kim;Man-Bok Kim;Man-Soo Choi
    • Journal of Wind Energy
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    • v.14 no.3
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    • pp.61-68
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    • 2023
  • This paper aims to perform optimal operation and maintenance with an integrated monitoring system for offshore wind platforms. Based on the wind direction and wind speed data of existing wind farms, a monitoring system was established along with weather and weather data to maximize the operational efficiency of wind farms. Compared to wind power on land, offshore wind power is difficult to maintain due to weather, logistics and geographical limitations. Therefore, economic analysis of actual operation and maintenance is essential for large-scale offshore wind farms. In this paper, the availability of offshore wind farms was analyzed by using personnel resources, parts inventory, Crew Transfer Vessel (CTV) and Specialized service Operation Vessel (SOV) etc. before the actual operation and maintenance of wind farms. A comparative analysis was conducted to determine the optimum operating efficiency and economical maintenance costs.

Urban Forestry's Scientic System and it's Application to Urban Openspace (都市林學(Urban Forestry)의 學問的 體系와 都市綠地空間에 對한 適用 硏究)

  • Cho, Young-Hwan
    • Journal of the Korean Institute of Landscape Architecture
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    • v.18 no.3 s.39
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    • pp.171-190
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    • 1990
  • It is the purpose of this study to address how to manage the urban vegitation using the concept of Urban Forestry which is relatively new to Korea. When we consider the Urban Forestry as a science, We should understand it interdisciplinary subject which includes Forestry, Horticulture, Urban Planning, Landscape Design, Landuse Planning, Business and Humanities. It may say that people and tree are the fundermental components of Urban Forestry. So there are two ways of Urban Forestry Applications-How people care for trees and How trees care for People-. For the application, this study places the focus on the monetary valuation, tree inventory system and traditional forestry application to urban forest management. Pubic Relation, Communication, Ordinances and Budget are also mentioned as a part of Urban Forestry Policy. Monetary valuation of trees and forests is very important for the proper cognition of their real value. So that, they may be equated and weighed against conflicting uses which would cause to be removed or severely mutilated. A tree inventory system which is the essential part of urban tree management can provide the pertinent information about the present condition of urban tree resource. It may aid in reducing the subjectivity of tree management decisions and stimulate them to be made rapidly and can help reduce potential municipal liability by identifying serious problems in time for corrective maintenance practices to be applied for the maximize community benefits and minimimize public nuisances or hazards. Managers can derive the information from the inventory and use it for the various management plan. When we see the structure of tree inventory system as one of the data base management system, Computer is the best equipment for the efficient management plan. Public relation and communication is also important factors to care the people for urban vegetation management. Volunteer management system is a good example for the public relation and communication. Those skills are need to develop for using the priceless, valuable human resources. Budget holds the key to the execution of Urban Forestry. Good inventory can provide for efficient budgeting stratiges through it's scientific analysis for the way of maximum benefits and minimum costs. Forest can be play a vital role for the aesthetic improvement and recreation in the city. This study suggests that the traditional sivicultural application not only improve the quality of scenic beauty and recreation but also the products of timber. So it is more needed to study for strong and scientific application to urban forest management.

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