• Title/Summary/Keyword: single period inventory model

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Service level in multiechelon Inventory systems (다단계 재고시스템에서의 서비스수준에 관한 연구)

  • 어윤양
    • The Journal of Fisheries Business Administration
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    • v.30 no.2
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    • pp.25-37
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    • 1999
  • Some multi echelon inventory systems carry perishable products. The value of these product reduces as the period of time they spend in the system. In this paper We derive the necessary condition to determine optimal quantity, service level for a perishable product. The systems considered consist of two echelons and carry single item. To determine the optimal order quantity, the demand is assumed to be constant, the holding costs may be different in the echelons, and it allows no shortages. I assumed the price of product decreases by negative exponential function. To determine service level, following assumptions used in the model ㆍlead time is constant. ㆍdemand is normal distribution. ㆍthe product starts to perish at the second echelon. Service level is computed for different levels of lead times and for different variance of demands and for different price functions. The experimental results indicate that the service level in cost is a function of service level in demand and perishability of product. Results of the models exhibit that perishability and the age of the product are critical to determine the lot sizing and service level.

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A Seat Inventory Management Model in the Presence of Dependent Demands (종속적 수요를 반영하는 좌석재고 할당 모형)

  • Kim, Sang-Won
    • Korean Management Science Review
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    • v.27 no.2
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    • pp.67-79
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    • 2010
  • When airlines sell the same seats on an air flight at different fares, demand for a fare class depends on demand for other fare classes due to demand dependency. Demand dependencies occur when customers will buy other fare class tickets if the originally requested fare were unavailable, or when customers postpone their purchase decisions in anticipation of reopening of the lower fare in the next period. Demand dependency as a result customer buying behavior has a considerable profit implication, which was ignored in many earlier studies. We investigate the impact of demand dependency on the optimal booking limits and the expected revenues under a single-period and a two-period setting. We show how to find optimal booking limits of the problem and provide numerical examples to illustrate the impact.

An Optimal Solution Algorithm of the Single Product Inventory Problem with Target In-Stock Ratio Constraint (단일품목의 목표 In-Stock Ratio 조건을 충족시키기 위한 재고문제 최적해 알고리듬)

  • Han, Yong-Hee;Kim, Hyoung-Tae
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.35 no.3
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    • pp.204-209
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    • 2012
  • 본 논문은 전국적인 소매업체의 각 지점별 고객 수요가 불확실한 상황에서 고객 서비스 목표 수준을 충족하는 최적재고 수준을 결정하는 문제에 대해 연구하였다. 이를 위해 전국에 분포한 지점에서 물품을 판매하는 베스트바이, 월마트, 혹은 시어스와 같은 전국적인 소매업체 관점에서 사용할 수 있는 핵심 관리 지표(KPI)로서 ISR(In-Stock Ratio)를 정의하였으며, 전국적인 소매업체가 평균 ISR로 정의되는 고객 서비스 목표 수준을 충족하면서 각 지점 보유 재고의 총합을 최소화할 수 있는 최적화 모델을 수립하였다. 본 논문은 해당 모델에 항상 최적해가 존재함을 증명하고 해당 최적해를 Karush-Kuhn-Tucker 조건을 사용하여 고객 수요의 확률분포의 형태에 상관없이 일반화된 형태로 표현하였다. 또한 본 논문은 고객 수요가 정규분포와 같은 특정 확률분포를 따르는 경우에 대해 연구하였으며, 이 경우에 대한 최적 재고수준을 나타내는 식을 도출하였다. 마지막으로 본 논문에서는 상기 기술된 상황에 대한 수리적인 예제를 통하여 최적재고 수준과 확률분포 파라미터들간의 관계를 분석하였다.

Decision Variable Design of Discrete Systems using Simulation Optimization (시뮬레이션 최적화를 이용한 이산형 시스템의 결정변수 설계)

  • 박경종
    • Proceedings of the Korea Society for Simulation Conference
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    • 1999.10a
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    • pp.63-69
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    • 1999
  • The research trend of the simulation optimization has been focused on exploring continuous decision variables. Yet, the research in discrete decision variable area has not been fully studied. A new research trend for optimizing discrete decision variables ha just appeared recently. This study, therefore, deals with a discrete simulation method to get the system evaluation criteria required for designing a complex probabilistic discrete event system and to search the effective and reliable alternatives to satisfy the objective values of the given system through a on-line, single run with the short time period. Finding the alternative, we construct an algorithm which changes values of decision variables and a design alternative by using the stopping algorithm which ends the simulation in a steady state of system. To avoid the loss of data while analyzing the acquired design alternative in the steady state, we provide background for estimation of an auto-regressive model and mean and confidence interval for evaluating correctly the objective function obtained by small amount of output data through simulation with the short time period. In numerical experiment we applied the proposed algorithm to (s, S) inventory system problem with varying Δt value. In case of the (s, S) inventory system, we obtained good design alternative when Δt value is larger than 100.

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Measuring a Value of Contract Flexibility in the Third-Party Warehousing

  • Park, Chul-Soon;Kim, Bo-Won
    • Management Science and Financial Engineering
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    • v.15 no.1
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    • pp.1-31
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    • 2009
  • This paper considers the value of warehousing contract under probabilistic demands. We consider a supply chain consisting of a supplier, a retailer and its third-party warehousing partner who provides the warehousing service to the retailer through an outsourcing contract. A typical contract is specified by initial space commitment and modification schedule. The retailer decides the order quantity for the supplier and space commitment for the outsourcing contract. Since there is close relationship between order quantity and space commitment to minimize the total cost including ordering cost, inventory carrying cost, shortage cost, and warehousing cost, we develop an analytical model under probabilistic demands, where the retailer can determine the optimal order size and space commitment level jointly. We found the closed-form optimum for a single-period case and the optimal conditions for a two-period case. To evaluate the value of contract flexibility for the two-period case, we compared the total cost under two policies; one with modification, under which the base commitment can be changed at the start of each period and the other without modification. From results of our numerical analysis, we showed that the modification policy is more cost-effective as the variability of demand increases.

Maximizing Expected Profit via Multiple Truck Operations under Imperfect Trucking Quality (불완전한 배송품질하(下) 배송차량 복수화(化)를 통한 기대수익함수 최대화전략)

  • Kim, Hyoung-Tae
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.35 no.2
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    • pp.45-51
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    • 2012
  • 이 논문은 물류배송의 불확실성하에서의 생산자의 배송전략 문제를 다루고 있다. 즉 생산자의 배송수량이 전량 온전한 상태로 소매업체의 창고에 배송되지 못하는 상황을 고려한 것이다. 물류배송의 불확실성을 묘사하기 위해 물류배송을 위해 사용되는 개개의 트럭 또는 선박으로부터 발생되는 파손 제품의 수가 가각 독립적이며 동일한 확률분포를 따른다는 가정이 사용되었다. 또한, 최초 배송수량과 배송을 위해 사용된 전체 트럭 또는 선박의 대수를 기존의 단일구간 신문팔이 소년 문제에 적용하여 생산자의 이익함수를 구성하였다. 구성된 생산자의 이익함수를 이용하여 생산자의 기대 이익을 최대화하는 최적의 최초 배송수량 및 배송시 필요한 최적의 트럭 또는 선박의 대수를 계산해 내기 위한 최적해를 제시하였다. 마지막으로 이익함수 모델에서 사용된 다양한 파라미터 값의 조합에 따른 최적해의 움직임을 시뮬레이션을 통해 알아보았다.

Art therapy using famous painting appreciation maintains fatigue levels during radiotherapy in cancer patients

  • Koom, Woong Sub;Choi, Mi Yeon;Lee, Jeongshim;Park, Eun Jung;Kim, Ju Hye;Kim, Sun-Hyun;Kim, Yong Bae
    • Radiation Oncology Journal
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    • v.34 no.2
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    • pp.135-144
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    • 2016
  • Purpose: The purpose of this study was to evaluate the efficacy of art therapy to control fatigue in cancer patients during course of radiotherapy and its impact on quality of life (QoL). Materials and Methods: Fifty cancer patients receiving radiotherapy received weekly art therapy sessions using famous painting appreciation. Fatigue and QoL were assessed using the Brief Fatigue Inventory (BFI) Scale and the Functional Assessment of Chronic Illness Therapy-Fatigue (FACIT-F) at baseline before starting radiotherapy, every week for 4 weeks during radiotherapy, and at the end of radiotherapy. Mean changes of scores over time were analyzed using a generalized linear mixed model. Results: Of the 50 patients, 34 (68%) participated in 4 sessions of art therapy. Generalized linear mixed models testing for the effect of time on mean score changes showed no significant changes in scores from baseline for the BFI and FACIT-F. The mean BFI score and FACIT-F total score changed from 3.1 to 2.7 and from 110.7 to 109.2, respectively. Art therapy based on the appreciation of famous paintings led to increases in self-esteem by increasing self-realization and forming social relationships. Conclusion: Fatigue and QoL in cancer patients with art therapy do not deteriorate during a period of radiotherapy. Despite the single-arm small number of participants and pilot design, this study provides a strong initial demonstration that art therapy of appreciation for famous painting is worthy of further study for fatigue and QoL improvement. Further, it can play an important role in routine practice in cancer patients during radiotherapy.