Easily Implementable Inventory Control Policies

Spreadsheet Implementable Inventory Control for a Distribution Center

An Easily Implementable Method to Support Goal-Directed Learnin

More and more in education, the importance of learning how to learn is recognized. The faster factual knowledge changes, the more important skills on how to learn become. In this article, we describe a method for supporting the learner on one aspect of these meta-cognitive skills, namely setting learning goals and controlling their achievement. The method we propose uses data available in virtu...

Integrated inventory control and inspection policies with deterministic demand

In this paper, we develop integrated inventory inspection models with and without replacement of nonconforming items. Inspection policies include no inspection, sampling inspection, and 100% inspection. We consider a buyer who places an order from a supplier. When a lot is received, the buyer uses some type of inspection policy. The fraction nonconforming is assumed to be a random variable foll...

Supply-chain modelling and control under proportional inventory-replenishment policies

A novel state-space model of a multi-node supply chain is presented, controlled via local proportional inventory-replenishment policies. The model is driven by a stochastic sequence representing customer demand. The model is analyzed under stationarity conditions and a simple recursive scheme is developed for updating its covariance matrix. This allows us to characterize the “bullwhip effect” (...

Optimal and near-optimal inventory control policies for a make-to-order inventory-production system

This paper examines several inventory replenishment policies for a make-to-order inventory–production system that consists of a production workshop and a warehouse. Demands arrive to the production workshop according to a Poisson process, and are processed in an FCFS manner. The production workshop requires that the warehouse provides, as needed, raw materials for use in the production process....