✦ LIBER ✦

Optimal inventory configuration of finished and semifinished products in multi-stage production/inventory system with an acceptable response time

✍ Scribed by K. Takeda; M. Kuroda

Publisher: Elsevier Science
Year: 1999
Tongue: English
Weight: 260 KB
Volume: 37
Category: Article
ISSN: 0360-8352
DOI: 10.1016/s0360-8352(99)00067-4

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✦ Synopsis

In this paper, the quantitative relationship between finished and semifinished product inventory levels considering both the specified service rate and an acceptable response time is firstly shown. Then, based on the result of the analysis, the optimal inventory configuration obtained by a mathematical approach is proposed and is compared with the configuration obtained by a heuristic method which would reflect on the insight of inventory managers. Numerical experiments show the superiority of the optimal approach regarding the stability of service rate to the variation of processing rates.

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Analysis of multi-stage production/inventory system with an acceptable response time

✍ Ken Takeda; Mitsuru Kuroda 📂 Article 📅 1997 🏛 Elsevier Science 🌐 English ⚖ 252 KB

This paper describes a method to decide the inventory levels of semifinished and finished products so as to realize the target service rate by shipping the finished products within a specified time which we call the acceptable response time. We analyze the substitution relation between the acceptabl