• Journal of the military operations research society of Korea
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• v.17 no.1
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• pp.84-104
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• 1991

Up to the present, the evaluation measures in the production and inventory management have been studied under the pre-condition that the costs for major factors(e.g,. cost of carrying inventory, cost of demand shortage) are given easily, although in practice, it is difficult. The case in which multiple participants have a different viewpoints in production and inventory management has not been studied, in spite of its frequent occurrence. This study suggests a production and inventory model with multiple objectives corresponding to major factors and the related interactive algorithm based on the preference structures of participants. The problem can be solved through a weighting vector generated by an interaction with participants. The concept of equity is also used in order to guarantee the reasonable distribution of group utility in determining the individual relative weights of participants. This study includes the reality of the model and the decision process in the production and inventory management.

• Management Science and Financial Engineering
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• v.16 no.3
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• pp.95-102
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• 2010

This paper considers the robust inventory control problem introduced by Bertsimas and Thiele [4]. In their paper, they have shown that the robust version of the inventory control problem can be solved by solving a nominal inventory problem which is formulated as a mixed integer program. As a proper generalization of the model, we consider the problem with non-stationary cost. In this paper, we show that the generalized version can also be solved by solving a nominal inventory problem. Furthermore, we show that the problem can be solved efficiently.

• Journal of the Korea Society for Simulation
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• v.24 no.1
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• pp.1-8
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• 2015

This research focuses on the method of inventory management to find out the best way in various SCM. There are several comparable methods of inventory management like Min-Max, regular interval, fixed target inventory that have different lead-time and demand for each product. Also, the inventory performances between the case of three-stages and two-stages in SCM are analyzed. 8 scenarios for the simulation are suggested considering order ways and stages. Input data for the simulation is from the result of the previous studies and actual data in the market. The performance measurements are selected as sales revenue, total number of sales, total delivery cost, total inventory shortages, the number of inventory shortage occurrence, the loss for inventory shortages, average inventory, handling cost, net profit. According to the results of the simulation, fixed target inventory management is better than existing inventory management method by net profit and inventory and so on. Also, it was confirmed that the increase in profit is obtained when SCM stages is reduced from three-stages to two-stages in existing SCM. The result of the research provides significant meaning that newly introduced target inventory management system shows good performance and SCM performance can be improved by reducing the stages.

• KIEAE Journal
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• v.13 no.1
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• pp.151-157
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• 2013

Since high-rise building construction sites are usually located in crowded city areas, sufficient spaces for the inventories of key materials are rarely available. This spatial constraints have been one of the critical challenge that may cause productivity loss and increasing costs of the high-rise building construction projects. The proper material inventory management is certaing a key to the success of high-rise building construction projects as it handles difficulty of securing material stock yards, changes in demands, uncertain delivery time through integrating the construction schedules and actively responding to the key materials attributes. In this light, this research analyzes the latest inventory model, (Q,r) model, in accordance with the high rise building characteristics. This research suggests an optimal inventory management of re-bar considering various demands and lead times. The case study is also presented with regard to the re-bar inventory management.

• Industrial Engineering and Management Systems
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• v.8 no.2
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• pp.72-79
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• 2009

The ultimate goal of inventory management is to decide the timing and the quantity of ordering in response to uncertain demands. Recently, some researchers have focused upon an impact of distortions in the information, e.g., customer order cancellation, on an economical inventory policy. The customer order cancellation is considered a kind of distortions in demands, because a demand that is eventually cancelled is equivalent to a phony demand. Also, there are some additional distortions in the inventory information. For instance, the procurement of suppliers may include some nonconforming items as a result of imperfect production and inspection by the suppliers, and/or damage in transit. The nonconforming item should be considered a kind of distortions in the inventory information, because the nonconforming item is equivalent to a phony stock. In this article, we consider an inventory model under the situation that customers can cancel their orders and the procurement of suppliers may include some nonconforming items. Then, we introduce the customer order reservation into the inventory model for the purpose of avoiding the costly backlogs, because the customer order reservation gives retailers a period to fulfill customer's requests. We formulate a periodic review (s, S) inventory model and investigate the economical operation under the situation mentioned above. Further, through the sensitivity analysis, we show the impact of these distortions and the effect of the customer order reservation on the inventory policy.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1996.10a
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• pp.53-56
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• 1996

The conventional inventory models are concerned with the items of which utilities and amount of numbers are constant over time. But in practice the items in inventory systems are increasing or decreasing. This study is concerned with the development of ameliorating inventory models. The ameliorating inventory is the inventory of goods whose utility increases over the time by ameliorating activation. The term ameliorating inventory is used in this paper at least, since the terminology is not standard well known. This study is performed according to areas; one is an economic order quantity(EOQ) model for the items whose utility is ameliorating in accordance with Weibull distribution, and the other is a partial selling quantity(PSQ) model developed for selling surplus inventory accumulated by ameliorating activation. Computer programs are developed to obtain the optimal ordering and selling quantity. Numerical examples to illustrate the effect of ameliorating rate on inventory polices are shown at the end of this paper.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.702-707
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• 2006

There have been certain extent of material inventory in construction site because of difficulties in ordering by small quantity, strategy of securing future requirements and prevention of delay. However, carrying these inventory entails a financial cost called inventory holding cost and decrease construction productivity, so proper inventory management in construction industry is important for construction efficiency and cost reduction. This study tries to find analytical method of inventory management. It includes ordering decision which decide how much to order and when to order. Setting these strategies including deciding safety inventory, input and ouput variability are able to controled.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.4
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• pp.15-25
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• 2016

SCM activities in a company are considered as total innovation through synchronizing supply and demand while maintaining appropriate inventory level and reducing the business operating costs. Until now, even several researches are carried out on the SCM performance of the companies which have introduced and been operating SCM, the research on the cost analysis for the inventory which occurs frequently on supply chain is still insufficient. Especially, for the electronics industry in which the product depreciation is sharp caused by the short product life cycle and the complexity of distribution channels, even the inventory related costs are a major factor in business management, since the current estimated criteria of inventory costs are limited to the interest and maintenance management costs, the criteria do not reflect the total influence of the product depreciation and lost opportunity cost which are related to the business management. Furthermore, even though the rapid price drops of the distributor inventory caused by the frequent new model launch can be covered by the product manufacturers, the scale of total costs related to the inventory has not been conceived because the price compensation is traditionally considered as a market costs. In this research, we analyzed the inventory characteristics of electronics industry in which the price depreciation happens frequently, newly defining the estimated criteria of the product total inventory cost which includes price depreciation from the product manufacturers' view. Finally we focus on the case study of a representative electronics company and verify the scale of the influence on management performance.

• Proceedings of the Korean Institute of Intelligent Systems Conference
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• 2001.12a
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• pp.27-30
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• 2001

A inventory management system of the manufacturing industry has a model of different kinds according to the objective and the situation. A inventory management system needs superior system technique in demand forecast, economical efficiency, reliability and application for stable supply of the finished goods, the raw materials and the parts. This paper proposes a demand forecast method based on fuzzy structured neural network, which uses min-operation and trapezoid membership function of fuzzy rules. So we can have an intelligent inventory management system for optimized decision-making of forecasting data with expert's opinion in fuzzy environment. This inventory management system used an intelligence agent and it could be adapted to asystemenvironmentchangeinorder.

• Journal of the Korean Data and Information Science Society
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• v.10 no.1
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• pp.271-277
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• 1999

In this paper, a case study is introduced on the development of an inventory management system for the textile industry. For the low-cost and high-efficient production, a systematic management is needed from make-to-order to delivery. In this paper, an integrated inventory management system for the D company is developed to manage the whole information related with make-to-order, production, delivery, and inventory, and so forth.