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Author: Yuchen Jiang Publisher: ISBN: Category : Languages : en Pages : 40
Book Description
Motivated by the importance of service quality in nowadays customer business environment, we focus on inventory optimization under probabilistic service level constraints, namely, the alpha service level (also known as the ready rate) or the beta service level (also known as the fill rate). Under service level constraints, we consider two canonical stochastic inventory models: (i) the classical inventory control model with backlogging and (ii) the remanufacturing inventory control model with random product returns. The random demands could be nonstationary, evolving and correlated over time. For each model, we first establish the optimality of generalized base-stock policies, and then propose a new approximation algorithm that admits a worst-case performance guarantee of 2. The core concept developed in this paper is called the delayed forced holding and production cost, which is proven effective in dealing with service level constrained inventory systems. We also provide an efficient heuristic algorithm for the multi-item inventory system. Our extensive computational experiments show that the proposed algorithms perform within 2% of optimality.
Author: Yuchen Jiang Publisher: ISBN: Category : Languages : en Pages : 40
Book Description
Motivated by the importance of service quality in nowadays customer business environment, we focus on inventory optimization under probabilistic service level constraints, namely, the alpha service level (also known as the ready rate) or the beta service level (also known as the fill rate). Under service level constraints, we consider two canonical stochastic inventory models: (i) the classical inventory control model with backlogging and (ii) the remanufacturing inventory control model with random product returns. The random demands could be nonstationary, evolving and correlated over time. For each model, we first establish the optimality of generalized base-stock policies, and then propose a new approximation algorithm that admits a worst-case performance guarantee of 2. The core concept developed in this paper is called the delayed forced holding and production cost, which is proven effective in dealing with service level constrained inventory systems. We also provide an efficient heuristic algorithm for the multi-item inventory system. Our extensive computational experiments show that the proposed algorithms perform within 2% of optimality.
Author: Ata Allah Taleizadeh Publisher: Springer Nature ISBN: 3030569748 Category : Business & Economics Languages : en Pages : 595
Book Description
This book examines inventory and production strategies that can reduce unexpected breakdown costs. It highlights different EPQ models to deal with such problems, providing optimal value derivations for decision variables. It provides proofs for concavity or convexity of objective functions. The chapters also include numerical examples for all the developed mathematical models. Imperfect Inventory Systems: Inventory and Production Management and Breakdown should be useful for professionals working on supply chains, but also researchers in operations research and inventory management.
Author: Lai Wei Publisher: ISBN: Category : Languages : en Pages : 65
Book Description
Service level constraint is often used as a metric to directly control the quality of service (e.g., managing the probability of stock-out) in practice. Many inventory problems with service level constraints are often difficult to solve and are typically approximated by deterministic formulations. This raises an important question regarding the quality of such an approach. To shed light on this question, in this paper, we consider two simplified yet fundamental inventory models (with backorder and lost-sales) with independent demands, positive lead times and sequential probabilistic service level constraints, and study the performance of a natural order-up-to policy whose parameters can be calculated using the optimal solution of a deterministic approximation of the backorder inventory system. We show that it is asymptotically optimal for both the backorder and lost-sales systems in the setting with a high service level requirement, with a stronger performance bound for the backorder system. Our analysis for the lost-sales system involves a construction of an alternative backorder system whose expected total cost can be related to that of the analogous lost-sales system. Overall, our result contributes to the growing body of inventory literature that suggests the near-optimality of simple heuristic policies. Moreover, it also gives credence to the use of deterministic approximation for solving complex inventory problems in practice, at least for applications where the targeted service level is sufficiently high.
Author: Thomas Wensing Publisher: Springer Science & Business Media ISBN: 3642204791 Category : Business & Economics Languages : en Pages : 159
Book Description
The focus of the work is twofold. First, it provides an introduction into fundamental structural and behavioral aspects of periodic review inventory systems. Second, it includes a comprehensive study on analytical and optimization aspects of a specific class of those systems. For the latter purpose, general solution methods for problems of inventory management in discrete time are described and developed along with highly specialized methods to solve very specific problems related to the model variants examined. The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.
Author: J. MacGregor Smith Publisher: Springer Science & Business Media ISBN: 1461467772 Category : Business & Economics Languages : en Pages : 397
Book Description
This handbook surveys important stochastic problems and models in manufacturing system operations and their stochastic analysis. Using analytical models to design and control manufacturing systems and their operations entail critical stochastic performance analysis as well as integrated optimization models of these systems. Topics deal with the areas of facilities planning, transportation, and material handling systems, logistics and supply chain management, and integrated productivity and quality models covering: • Stochastic modeling and analysis of manufacturing systems • Design, analysis, and optimization of manufacturing systems • Facilities planning, transportation, and material handling systems analysis • Production planning, scheduling systems, management, and control • Analytical approaches to logistics and supply chain management • Integrated productivity and quality models, and their analysis • Literature surveys of issues relevant in manufacturing systems • Case studies of manufacturing system operations and analysis Today’s manufacturing system operations are becoming increasingly complex. Advanced knowledge of best practices for treating these problems is not always well known. The purpose of the book is to create a foundation for the development of stochastic models and their analysis in manufacturing system operations. Given the handbook nature of the volume, introducing basic principles, concepts, and algorithms for treating these problems and their solutions is the main intent of this handbook. Readers unfamiliar with these research areas will be able to find a research foundation for studying these problems and systems.
Author: Peter J. Stuckey Publisher: Springer Science & Business Media ISBN: 3540859578 Category : Computers Languages : en Pages : 662
Book Description
This volume contains the proceedings of the 14th International Conference on Principles and Practice of Constraint Programming (CP 2008) held in Sydney, Australia, September 14–18, 2008. The conference was held in conjunction with the International Conference on Automated Planning and Scheduling (ICAPS 2008) and the International Conference on Knowledge Representation and R- soning (KR 2008). Information about the conference can be found at the w- sitehttp://www. unimelb. edu. au/cp2008/. Held annually, the CP conference series is the premier international conference on constraint programming. The conference focuses on all aspects of computing with constraints. The CP conf- ence series is organized by the Association for Constraint Programming (ACP). Information about the conferences in the series can be found on the Web at http://www. cs. ualberta. ca/~ai/cp/. Information about ACP can be found athttp://www. a4cp. org/. CP 2008 included two calls for contributions: a call for research papers, - scribing novel contributions in the ?eld, and a call for application papers, - scribing applications of constraint technology. For the ?rst time authors could directly submit short papers for consideration by the committee. The research track received 84 long submissions and 21 short submissions and the application track received 15 long submissions. Each paper received at least three reviews, which the authors had the opportunity to see and to react to, before the papers and their reviews were discussed extensively by the members of the Program Committee.
Author: Osvaldo Gervasi Publisher: Springer ISBN: 3319214071 Category : Computers Languages : en Pages : 798
Book Description
The five-volume set LNCS 9155-9159 constitutes the refereed proceedings of the 15th International Conference on Computational Science and Its Applications, ICCSA 2015, held in Banff, AB, Canada, in June 2015. The 232 revised full papers presented in 22 workshops and a general track were carefully reviewed and selected from 780 initial submissions for inclusion in this volume. They cover various areas in computational science ranging from computational science technologies to specific areas of computational science such as computational geometry and security.
Author: Jing-Sheng J. Song Publisher: Edward Elgar Publishing ISBN: 180037710X Category : Technology & Engineering Languages : en Pages : 565
Book Description
This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Author: Alexandre Dolgui Publisher: Springer Nature ISBN: 303085874X Category : Computers Languages : en Pages : 779
Book Description
The five-volume set IFIP AICT 630, 631, 632, 633, and 634 constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2021, held in Nantes, France, in September 2021.* The 378 papers presented were carefully reviewed and selected from 529 submissions. They discuss artificial intelligence techniques, decision aid and new and renewed paradigms for sustainable and resilient production systems at four-wall factory and value chain levels. The papers are organized in the following topical sections: Part I: artificial intelligence based optimization techniques for demand-driven manufacturing; hybrid approaches for production planning and scheduling; intelligent systems for manufacturing planning and control in the industry 4.0; learning and robust decision support systems for agile manufacturing environments; low-code and model-driven engineering for production system; meta-heuristics and optimization techniques for energy-oriented manufacturing systems; metaheuristics for production systems; modern analytics and new AI-based smart techniques for replenishment and production planning under uncertainty; system identification for manufacturing control applications; and the future of lean thinking and practice Part II: digital transformation of SME manufacturers: the crucial role of standard; digital transformations towards supply chain resiliency; engineering of smart-product-service-systems of the future; lean and Six Sigma in services healthcare; new trends and challenges in reconfigurable, flexible or agile production system; production management in food supply chains; and sustainability in production planning and lot-sizing Part III: autonomous robots in delivery logistics; digital transformation approaches in production management; finance-driven supply chain; gastronomic service system design; modern scheduling and applications in industry 4.0; recent advances in sustainable manufacturing; regular session: green production and circularity concepts; regular session: improvement models and methods for green and innovative systems; regular session: supply chain and routing management; regular session: robotics and human aspects; regular session: classification and data management methods; smart supply chain and production in society 5.0 era; and supply chain risk management under coronavirus Part IV: AI for resilience in global supply chain networks in the context of pandemic disruptions; blockchain in the operations and supply chain management; data-based services as key enablers for smart products, manufacturing and assembly; data-driven methods for supply chain optimization; digital twins based on systems engineering and semantic modeling; digital twins in companies first developments and future challenges; human-centered artificial intelligence in smart manufacturing for the operator 4.0; operations management in engineer-to-order manufacturing; product and asset life cycle management for smart and sustainable manufacturing systems; robotics technologies for control, smart manufacturing and logistics; serious games analytics: improving games and learning support; smart and sustainable production and supply chains; smart methods and techniques for sustainable supply chain management; the new digital lean manufacturing paradigm; and the role of emerging technologies in disaster relief operations: lessons from COVID-19 Part V: data-driven platforms and applications in production and logistics: digital twins and AI for sustainability; regular session: new approaches for routing problem solving; regular session: improvement of design and operation of manufacturing systems; regular session: crossdock and transportation issues; regular session: maintenance improvement and lifecycle management; regular session: additive manufacturing and mass customization; regular session: frameworks and conceptual modelling for systems and services efficiency; regular session: optimization of production and transportation systems; regular session: optimization of supply chain agility and reconfigurability; regular session: advanced modelling approaches; regular session: simulation and optimization of systems performances; regular session: AI-based approaches for quality and performance improvement of production systems; and regular session: risk and performance management of supply chains *The conference was held online.
Author: Yuchen Jiang
Author: Yuchen Jiang
Author: Ata Allah Taleizadeh
Author: Lai Wei
Author: Thomas Wensing
Author: J. MacGregor Smith
Author: Ramon Rodriguez
Author: Peter J. Stuckey
Author: Osvaldo Gervasi
Author: Jing-Sheng J. Song
Author: Alexandre Dolgui