• 제목/요약/키워드: single period inventory model

검색결과 27건 처리시간 0.022초

A Study on Multi-Period Inventory Clearance Pricing in Consideration of Consumer's Reference Price Effect

  • Koide, Takeshi;Sandoh, Hiroaki
    • Industrial Engineering and Management Systems
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    • 제12권2호
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    • pp.95-102
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    • 2013
  • It is difficult to determine an appropriate discount price for daily perishable products to increase profit from a long-term standpoint. Even if the discount pricing is efficient to increase profit of the day, consumers memorize the sales price and they might hesitate to purchase the product at a regular price the following day. The authors discussed the inventory clearance pricing for a single period in our previous study by constructing a mathematical model to derive an optimal sales price to maximize the expected profit by considering the reference price effect of demand. This paper extends the discussion to handle the discount pricing for multiple periods. A mathematical analysis is first conducted to reveal the properties on an objective function, which is the present value of total expected profits for multiple periods. An algorithm is then proposed to derive an optimal price for asymmetric consumers. Numerical experiments investigate the characteristics of the objective function and optimal pricings.

다수의 화물컨테이너를 고려한 동적 생산-수송 모형에 관한 연구 (A Dynamic Production and Transportation Model with Multiple Freight Container Types)

  • 이운식
    • 대한산업공학회지
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    • 제24권1호
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    • pp.157-165
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    • 1998
  • This paper considers the single-product production and transportation problem with discrete time, dynamic demand and finite time horizon, an extension of classical dynamic lot-sizing model. In the model, multiple freight container types are allowed as the transportation mode and each order (product) placed in a period is shipped immediately by containers in the period. Moreover, each container has type-dependent carrying capacity restriction and at most one container type is allowed in each shipping period. The unit freight cost for each container type depends on the size of its carrying capacity. The total freight cost is proportional to the number of each container type employed. Such a freight cost is considered as another set-up cost. Also, it is assumed in the model that production and inventory cost functions are dynamically concave and backlogging is not allowed. The objective of this study is to determine the optimal production policy and the optimal transportation policy simultaneously that minimizes the total system cost (including production cost, inventory holding cost, and freight cost) to satisfy dynamic demands over a finite time horizon. In the analysis, the optimal solution properties are characterized, based on which a dynamic programming algorithm is derived. The solution algorithm is then illustrated with a numerical example.

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A Multiproduct Facility-in-Series Production Planning Model

  • Sung, C.S.
    • 한국경영과학회지
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    • 제9권2호
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    • pp.15-22
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    • 1984
  • A deterministic multiproduct, facility-in series multiperiod production planning model is analyzed, where each period demand for the product of a facility appear in a fixed proportion of that for the product of the immediately following facility. The model considers concave production and inventory costs, which can depend upon the production in different facilities. No backlogging is allowed. It is shown that the model is represented via a single source network, which facilitates development of efficient dynamic programming algorithms for computing the optimal production schedule.

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단일 실행의 빠른 근사해 기법과 반복 실행의 최적화 기법을 이용한 이산형 시스템의 시뮬레이션 연구 (Simulation Study of Discrete Event Systems using Fast Approximation Method of Single Run and Optimization Method of Multiple Run)

  • 박경종;이영해
    • 대한산업공학회지
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    • 제32권1호
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    • pp.9-17
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    • 2006
  • This paper deals with a discrete simulation optimization method for designing a complex probabilistic discrete event simulation. The developed algorithm uses the configuration algorithm that can change decision variables and the stopping algorithm that can end simulation in order to satisfy the given objective value during single run. It tries to estimate an auto-regressive model for evaluating correctly the objective function obtained by a small amount of output data. We apply the proposed algorithm to M/M/s model, (s, S) inventory model, and known-function problem. The proposed algorithm can't always guarantee the optimal solution but the method gives an approximate feasible solution in a relatively short time period. We, therefore, show the proposed algorithm can be used as an initial feasible solution of existing optimization methods that need multiple simulation run to search an optimal solution.

A MULTIOBJECTIVE MODEL OF WHOLESALER-RETAILERS' PROBLEM VIA GENETIC ALGORITHM

  • MAHAPATRA NIRMAL KUMAR;BHUNIA ASOKE KUMAR;MAITI MANORANJAN
    • Journal of applied mathematics & informatics
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    • 제19권1_2호
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    • pp.397-414
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    • 2005
  • In the existing literature, most of the purchasing models were developed only for retailers problem ignoring the constraint of storage capacity of retailers shop/showroom. In this paper, we have developed a deterministic model of wholesaler-retailers' problem of single product. The storage capacity of wholesaler's warehouse/showroom and retailers' showroom/shop are assumed to be finite. The items are transported from wholesaler's warehouse to retailers' Own Warehouse (OW) in a lot. The customer's demand is assumed to be displayed inventory level dependent. Demands are met from OW and that spaces of OW will immediately be filled by shifting the same amount from the Rented Warehouse (RW) till the RW is empty. The time duration between selling from OW and filling up its space by new ones from RW is negligible. According to relative size of the retailers' existing (own) warehouse capacity and the demand factors, different scenarios are identified. Our objectives are to optimize the cost functions of wholesaler and two retailers separately. To solve this problem, a real coded Genetic Algorithm (GA) with roulette wheel selection/reproduction, whole arithmetic crossover and non-uniform mutation is developed. Finally a numerical example is presented to illustrate the results for different scenarios. To compare the results of GA, Generalised Reduced Gradient Method has been used for the problem. Also, a sensitivity analysis has been performed to study the variations of the optimal average cost with respect to the different parameters.

신선·시즌 상품의 최적 주문량 산정 문제에 대한 실증적 분석 : 소매유통업에서 뉴스벤더 모델의 적용 (An Empirical Analysis on Optimal Oder Quantity of Perishable and Seasonal Products : A Practical Application of Newsvendor Model in Retail)

  • 노건호;황승준
    • 산업경영시스템학회지
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    • 제42권1호
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    • pp.41-54
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    • 2019
  • Although retailers deals with a large number of single-term inventory items, but few cases have been considered in the areas of practical decision making. However, recent moves to strengthen fair trade have created a real need for single-period inventory decision-making problems. This study addresses the problem of ordering quantity decisions that are expected to maximize profits using classical newsvendor models. The research target is data on seasonal and perishable products from retail. We also use data from retailers to actually apply the newsvendor model and calculate the results to compare performance. It also suggests solutions for estimating demand for products sold in order to apply newsvendor models that utilize actual demand ratio versus forecast demand. This study would like to examine the effectiveness of this research through data analysis and make some suggestions for applying it to reality.

수송공정을 고려한 다분기 공정-저장조 망구조의 최적설계 (Optimal Design of Multiperiod Process-Inventory Network Considering Transportation Processes)

  • 서근학;이경범
    • 제어로봇시스템학회논문지
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    • 제18권9호
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    • pp.854-862
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    • 2012
  • The optimal design of batch-storage network by using periodic square wave model provides analytical lot sizing equations for a complex supply chain network characterized as multi-supplier, multi-product, multi-stage, non-serial, multi-customer, cyclic system including recycling and/or remanufacturing. The network structure includes multiple currency flows as well as material flows. The processes are represented by multiple feedstock/product materials with fixed composition which are very suitable for production processes. In this study, transportation processes that carry multiple materials with unknown composition are added and the time frame is changed from single period into multiple periods in order to represent nonperiodic parameter variations. The objective function of the optimization involves minimizing the opportunity costs of annualized capital investments and currency/material inventories minus the benefit to stockholders in the numeraire currency. The expressions for the Kuhn-Tucker conditions of the optimization problem are reduced to a multiperiod subproblem for average flow rates and analytical lot-sizing equations. The multiperiod lot sizing equations are different from single period ones. The effects of corporate income taxes, interest rates and exchange rates are incorporated.

(R, S)정책하에서의 장기 보충계약 (A Long-term Replenishment Contract under (R, S) Policy)

  • 김용찬;김종수
    • 대한산업공학회지
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    • 제30권3호
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    • pp.241-249
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    • 2004
  • By committing to a long-term replenishment contract, suppliers can mitigate the pressure to find new customers and afford to charge a discounted price to buyers seeking to lower their purchasing costs. In this paper, we develop an analytical model from buyer's perspective for the contracting process to investigate the buyer-supplier interactions. Based on the developed model, we propose an algorithm to derive optimal strategy for the contract. We consider a system with a single buyer and a supplier in a situation where the buyer's inventory is controlled by (R, S) policy under VMI setting. According to the contract, the supplier should replenish the buyer's inventory up to a fixed level every R times during a specified period. The buyer purchases any deficient amount from a spot market at a higher price. We show by computational experiment that our proposed algorithm finds the global optimum solution.

비정상적 수요를 갖는 품목들의 통합발주정책 (Joint Replenishment Policy for Items with Non-stationary Demands)

  • 양영현;김종수;김태영
    • 대한산업공학회지
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    • 제38권2호
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    • pp.116-124
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    • 2012
  • This paper concerns a joint replenishment problem for a single buyer who sells multiple types of items to end-customers. The buyer periodically replenishes the inventory of each item to a preset order-up-to-level to satisfy the end customers' demands, which may be non-stationary. A joint replenishment policy characterized by variable order-up-to-levels is proposed for the buyer who wishes to minimize the expected cost of operating the retail system. The proposed policy starts each period by calculating the expected cost of ordering and not ordering action based on the information of the current inventory position and forecasted demand for the upcoming period. It then takes advantage of an integer programming model to get a cost effective joint replenishment plan. Computer experiment was performed to test efficiency of the proposed policy. When compared with the most efficient policy currently available, our policy showed a considerable cost savings especially for the problems having non-stationary demands.

확률적 수요를 갖는 단일구매자와 단일공급자 시스템의 다품목 통합발주문제 (Joint Replenishment Problem for Single Buyer and Single Supplier System Having the Stochastic Demands)

  • 정원찬;김종수
    • 한국경영과학회지
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    • 제36권3호
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    • pp.91-105
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    • 2011
  • In this paper, we analyze a logistic system involving a supplier who produces and delivers multiple types of items and a buyer who receives and sells the products to end customers. The buyer controls the inventory level by replenishing each product item up to a given order-up-to-level to cope with stochastic demand of end customers. In response to the buyer's order, the supplier produces or outsources the ordered item and delivers them at the start of each period. For the system described above, a mathematical model for a single type of item was developed from the buyer's perspective. Based on the model, an efficient method to find the cycle length and safety factor which correspond to a local minimum solution is proposed. This single product model was extended to cover a multiple item situation. From the model, algorithms to decide the base cycle length and order interval of each item were proposed. The results of the computational experiment show that the algorithms were able to determine the global optimum solution for all tested cases within a reasonable amount of time.