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Inventory Policies and Safety Stock Optimization for Supply Chain Planning by Braulio Brunaud; José M. Laínez‐Aguirre; Jose M. Pinto; Ignacio E. Grossmann is a Engineering article available to read on EtoBox.

What is Inventory Policies and Safety Stock Optimization for Supply Chain Planning about?

In this article, traditional supply chain planning models are extended to simultaneously optimize inventory policies. The inventory policies considered are the (r,Q) and (s,S) policies. In the (r,Q) inventory policy an order for Q units is placed every time the inventory level reaches level r, while in the s,S policy the inventory is reviewed in predefined intervals. If the inventory is found to be below level s, an order is placed to bring the level back to level S. Additionally, to address demand uncertainty four safety stock formulations are presented: (1) proportional to throughput, (2) proportional to throughput with risk‐pooling effect, (3) explicit risk‐pooling, and (4) guaranteed service time. The models proposed allow simultaneous optimization of safety stock, reserve, and base stock levels in tandem with material flows in supply chain planning. The formulations are evaluated using simulation. © 2018 American Institute of Chemical Engineers __AIChE J__, 65: 99–112, 2019

Who reads Inventory Policies and Safety Stock Optimization for Supply Chain Planning?

Author

Braulio Brunaud; José M. Laínez‐Aguirre; Jose M. Pinto; Ignacio E. Grossmann

Publisher

Wiley

Published

2018

Language

EN

Field

Engineering (Physical Sciences)