• 제목/요약/키워드: inventory theory

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Robust Design Method for Complex Stochastic Inventory Model

  • Hwang, In-Keuk;Park, Dong-Jin
    • 한국경영과학회:학술대회논문집
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    • 한국경영과학회/대한산업공학회 1999년도 춘계공동학술대회:정보화시대의 지식경영
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    • pp.426-426
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    • 1999
  • ;There are many sources of uncertainty in a typical production and inventory system. There is uncertainty as to how many items customers will demand during the next day, week, month, or year. There is uncertainty about delivery times of the product. Uncertainty exacts a toll from management in a variety of ways. A spurt in a demand or a delay in production may lead to stockouts, with the potential for lost revenue and customer dissatisfaction. Firms typically hold inventory to provide protection against uncertainty. A cushion of inventory on hand allows management to face unexpected demands or delays in delivery with a reduced chance of incurring a stockout. The proposed strategies are used for the design of a probabilistic inventory system. In the traditional approach to the design of an inventory system, the goal is to find the best setting of various inventory control policy parameters such as the re-order level, review period, order quantity, etc. which would minimize the total inventory cost. The goals of the analysis need to be defined, so that robustness becomes an important design criterion. Moreover, one has to conceptualize and identify appropriate noise variables. There are two main goals for the inventory policy design. One is to minimize the average inventory cost and the stockouts. The other is to the variability for the average inventory cost and the stockouts The total average inventory cost is the sum of three components: the ordering cost, the holding cost, and the shortage costs. The shortage costs include the cost of the lost sales, cost of loss of goodwill, cost of customer dissatisfaction, etc. The noise factors for this design problem are identified to be: the mean demand rate and the mean lead time. Both the demand and the lead time are assumed to be normal random variables. Thus robustness for this inventory system is interpreted as insensitivity of the average inventory cost and the stockout to uncontrollable fluctuations in the mean demand rate and mean lead time. To make this inventory system for robustness, the concept of utility theory will be used. Utility theory is an analytical method for making a decision concerning an action to take, given a set of multiple criteria upon which the decision is to be based. Utility theory is appropriate for design having different scale such as demand rate and lead time since utility theory represents different scale across decision making attributes with zero to one ranks, higher preference modeled with a higher rank. Using utility theory, three design strategies, such as distance strategy, response strategy, and priority-based strategy. for the robust inventory system will be developed.loped.

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증식되는 제품의 물류재고모델의 연구 (A study on a partial selling model for ameliorating items)

  • 황흥석
    • 한국경영과학회:학술대회논문집
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    • 한국경영과학회 1996년도 추계학술대회발표논문집; 고려대학교, 서울; 26 Oct. 1996
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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.

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성역할 정체감 척도 개발에 관한 연구 (A Study on the Sex-Role Identity Inventory)

  • 장하경
    • 대한가정학회지
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    • 제29권4호
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    • pp.167-179
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    • 1991
  • Sex role reseach in korea has been hindered by the absence a sex role inventory which is based on the sex role stereotypes of the Korea society. This study has attempted to establish the korean sex-role identity inventory in line with the theory and methods of the androgynous perspective, In a prelinminary study 450 judges rated the desirability of 156 personality characteristics for males and females in Korean society. Following Broverman's procedure for item selection, male-oriented traits(20 items), female-oriented traits(20 items), and neutral traits(10 items) were selected. Sex-role identity inventory were administred to 982 judges. Compared to the translated versions of foreign sex role inventories or the masculinity-feminity scales of the traditional personality tents which do not correspond with androgyny theory, the results of this study have various advantages for sex-role reserach in Korea.

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증식률을 고려한 양식어류의 적정 물류재고모델의 연구 (A Study on an Inventory Model for Fish Culture Items with Weibull Ameliorating)

  • 황흥석
    • 수산경영론집
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    • 제27권1호
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    • pp.57-65
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    • 1996
  • This paper 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 the surplus inventory accumulated by ameliorating activation. The proposed models cannot be solved directly in a closed form, thus we used a computer program and a graphical solution method to obtain the optimal ordering and setting quantity in this paper. Numerical examples to illustrate the effect of ameliorating rate on inventory polices are shown at the end of this paper.

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An Overview of Inventory Management with Some Suggested Research Topics

  • Silver, Edward A.
    • 대한산업공학회지
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    • 제34권4호
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    • pp.373-385
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    • 2008
  • This paper presents an overview of inventory management. This includes a categorization, by a number of dimensions, of inventory problems and associated models. Relevant literature references are provided within the dimensions. The paper points out the continuing gap between theory and practice, followed by a number of suggested research topics to help bridge the gap.

A Generalization of the Robust Inventory Problem with Non-Stationary Costs

  • Park, Kyung-Chul;Lee, Kyung-Sik
    • Management Science and Financial Engineering
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    • 제16권3호
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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.

P기업의 재고관리시스템 구축사례 (The Case Study of the Inventory Management System in P company)

  • 안봉근;김중순;손달호
    • 경영과학
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    • 제20권1호
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    • pp.77-88
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    • 2003
  • Supply-Chain Management (SCM) was the integration of the activities that procure materials, transform them into intermediate goods and final products, and deliver them to customers. These activities include the traditional purchasing function, plus other activities that were important to the relationship with suppliers and distributors. P company was the first vendor in motor industry of Korea and had a flexible relationship with motor industry through SCM. However, p company had independent information with motor Industry and it caused many troubles In the operation of the P company. Considering these facts, authors had developed the inventory control system which was the part of order-fulfillment process and could make a progress in the operation of the inventory. The core factor of the developed inventory control system was the combination of the theoretical factors and the empirical factors. That is, the factors which were excluded in existing inventory theory revealed to be important.

생산(生産) - 재고관리(在庫管理) 시스템의 동적거동(動的擧動)에 관한 연구(硏究) (A Study of Dynamic Behavior of Production - Inventory Control System)

  • 김만식;박용선
    • 대한산업공학회지
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    • 제5권1호
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    • pp.1-6
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    • 1979
  • This paper discusses an application of discrete variable Servo Theory to the analysis of the effectiveness of production-inventory control system which uses exponential smoothing as a specific forecasting technique by establishing a new model which consists of such three departments as production planning, production, and inventory. The objective of the new production-inventory model is to keep the production to the optimal level of minimum production cost in production planning problem for obtaining, the stability of inventory subject to demand variation. On this basis, the dynamic characteristic of the system with the change of the parameters is clarified by the numerical analysis. The results of the numerical analysis show the effect that is obtained by the simultaneous stability of production and inventory as soon as possible.

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An Inventory Management System Based on Intelligent Agents

  • Her, Chul-whoi;Chung, Hwan-mook
    • 한국지능시스템학회논문지
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    • 제11권7호
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    • pp.584-590
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    • 2001
  • An inventory management system of manufacturing industry has a model of different kinds according to the objective and the situation. An 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 construct an intelligent inventory management system that make optimized decision-making for forecasting data with expert s opinion in fuzzy environment. The inventory management system uses intelligence agent and it could be adapted to a system environment change in order.

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Vari-METRIC을 개선한 다단계 재고모형의 효과측정 (The Effect Analysis of the Improved Vari-METRIC in Multi-Echelon Inventory Model)

  • 윤혁;이상진
    • 경영과학
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    • 제28권1호
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    • pp.117-127
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    • 2011
  • In the Multi-Echelon maintenance environment, METRIC(Multi-Echelon Technique for Repairable Item Control) has been used in several different inventory level selection models, such as MOD-METRIC, Vari-METRIC, and Dyna- ETRIC. While this model's logic is easy to be implemented, a critical assumption of infinite maintenance capacity would deteriorate actual values, especially Expected Back Order(EBO)s for each item. To improve the accuracy of EBO, we develop two models using simulation and queueing theory that calculates EBO considering finite capacity. The result of our numerical example shows that the expected backorder from our model is much closer to the true value than the one from Vari-METRIC. The queueing model is preferable to the simulation model regarding the computational time.