Safety stocks in multi-stage inventory systems under different service measures

Article Abstract:

An optimization problem for a general inventory system was developed to resolve the problem of determining safety stocks under a multi-stage inventory systems with normally distributed demands. The optimization problem revealed that extreme points of solution set can serve as source of achieving values for safety stock coverage times. A relationship was established between problem reduction properties and service levels, which characterize the size and duration of stockouts.

Inventory Control, Materials management

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Models for evaluating the performance of serial and assembly MRP systems

Article Abstract:

A study is conducted to examine the development of multi-echelon models for evaluating the degree of customer service which can be achieved under serial and assembly production. The study assumes that such systems are integrated in MRP (material requirement planning) systems and considers traditional inventory policies. Results show that service evaluation is possible through equivalence theorem applications.

Material requirements planning

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A stochastic inventory problem with fuzzy shortage cost

Article Abstract:

The fuzzy version of the classical newsboy problem was analyzed to understand the nature of shortage cost fuzzification. The fuzzy newsboy problem was characterized by vague shortage cost and an L shape fuzzy numer. A maximal ordering quantity with a fuzzy max order profit function was obtained and compared to non-fuzzy newsboy problem's optimal ordering quantity.

Research and Development in the Physical, Engineering, and Life Sciences, Mathematics, Set theory, Fuzzy sets, Structural optimization

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