Methods for supply chain management

Details Methods for supply chain management Methods for supply chain management

2011-06-07

2011-06-07

Jeanty, Romain (Department: 3624)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Discount or incentive

Reexamination Certificate

active

07958004

ABSTRACT:
According to various embodiments, the present teachings include inventory control policies that are defined in terms of functions of aggregate cost rates, involving thresholds Ω and an order-up-to point S. An embodiment of the present teachings includes a method. The method includes tracking an inventory position of each of the plurality of items by a logistics network and determining an item cost rate for each of the plurality of items based on the tracked inventory position. The method also includes determining an aggregate cost rate for the plurality of items based on the determined item cost rates, comparing the aggregate cost rate with a cost rate threshold Ω, and ordering the plurality of items to an order-up-to point S if the compared aggregate cost rate is greater than or equal to the cost rate threshold Ω.

REFERENCES:
patent: 2002/0143665 (2002-10-01), Santos et al.
Miranda et al “Incorporating inventory control decisions into a strategic distribution network design model with stochastic demand”, May 2004, Transportation Research Part E: Logistics and Transportation Review, vol. 40, Issue 3, pp. 183-207.
Rosling Inventory Cost Rate Functions with Nonlinear Shortage Costs, Dec. 2002, Operations Research, vol. 50, No. 6, pp. 1007-1017.
Benjaafar et al “Production-Inventory Systems with Imperfect Advance Demand Information and Updating”, Aug. 2006, Department of Mechanical Engineering, University of Minnesota, pp. 1-57.
Federgruen et al “Combined pricing and inventory control under uncertaint”, Jun. 1999, Opearations Research vol. 47, No. 3, pp. 453-475.
Teunter “On the non-optimality of the average cost approach for inventory models with remanufacturing”, Sep. 2002, International Journal of Productions Economics, vol. 79, pp. 67-73.
Tanrikulu (Joint Replenishment Problem With Truck Cost Structures).

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