A modeling framework for supply chain simulation: opportunities for improved decision making

Article Abstract:

Most of the supply chain models strongly focus on physical transactions, leaving key decision variables implicit for some or all of the parties involved. This especially applies to control structures, that is, the managers or systems responsible for control, their activities and their mutual attuning of these activities. Control elements are, for example dispersed over the model, are not visualized, or form part of the time-indexed scheduling of events. Therefore an approach that explicitly addresses the modeling of control structures is formulated.

Netherlands, Science & research, Research, Business, Logistics, Business logistics, Business models

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The Hermite Distribution as a Model of Demand During Lead Time for Slow-Moving Items

Article Abstract:

An alternative model for slow-moving items in inventory analysis is presented. The Hermite distribution is recommended over existing distributions. This management tool is both easy to use and accurate. Calculation formulas for four areas are included. These are model probabilities, moments of distribution, protection level and expected backorders. The accuracy of the Hermite distribution is compared to the accuracy of two widely used distributions.

Methods, Management, Inventory control, Inventories

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