We address a problem of inventory management of spare parts in the context of a large energy company, producer of oil and gas. Spare parts are critical for assuring operational conditions in offshore platforms. About 200,000 different items are held in several inventory plants. The inventory system implemented at the company corresponds to a min-max system. The control parameters are decided ba...

Materials, manufacturing and marketing departments are the three major operating subsystems of any organization whether it is a production house or a service center, i.e. neither the goods producing organization nor the service providing organizations works without inventory, they have to maintain some inventory for smooth running of their businesses. In recent years, the study of inventory man...

A disaster inventory system is considered in which two substitutable items are stored for disaster management. In the event of disaster management, a particular product may become stock-out and the situation warrants that a demand for the particular product during its stock-out period may be substituted with another available similar product in the inventory. From the utility point of view, con...

Companies nowadays are working to improve their processes and functions; one of the most important functions is inventory management, in which companies schedule production activity. This function has evolved come up with many optimization tools that, unfortunately, haven’t adopted yet. Also, lean management concept largely attracted attention both researchers professionals regarding its import...

I ABSTRACT.-The South can increase forest productivity on industrial and nonindustrial private forest (NIPF) lands. As timber markets have improved and timber prices have increased, returns from intensive management are more profitable. The interaction of timber markets, inventory, and prices are analyzed in new southern timber supply models sponsored by the Southern Forest Resource Assessment ...

Supply chain management refers to efficient operation paradigms related to procurement of raw material, transforming them into semi-finished and finished products and distributing them to the end customer, thereby transcending multiple business units. Poor supply chain management (more often than not) predominantly results in excessive amounts of inventory, the largest asset for many firms. Inv...

Members of supply chain carry inventory for different purposes. To effectively reduce the cost of inventory, information sharing mechanism is the key. The inventory can be managed in two ways in supply chain systems. The first one is the centralized inventory management system, in which, the information of inventory is highly exchanged among supply chain members. The other is the decentralized ...

Process-based simulation models of terrestrial ecosystem dynamics are increasingly being applied as practical tools in forest management. Regional applications of such models are, however, very limited to date. This study presents and tests the performance of a process-based regional ecosystem modelling framework, LPJ-GUESS, which incorporates forest management practices. The model is driven by...