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Modelling inventories in a network. (English) Zbl 1220.90008

Summary: If each inventory in a supply chain, comprising a network of production and transportation facilities, is optimized separately by some EOQ formula, the overall result may be far from optimal. If the objective of inventories is to reduce the variability of production and delivery rates, then this can be modelled as a network system with feedback links. The propagation of demands through the network is described by certain “propagation vectors”, and the optimization is with respect to certain feedback factors.

MSC:

90B05 Inventory, storage, reservoirs
90B10 Deterministic network models in operations research
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References:

[1] Cohen, M.A., Huchzermeier, A.: Global supply chain management: a survey of research and applications. In: Tayur S., Ganeshan R., Magazine M. (eds.) Quantitative Models For Supply Chain Management, Chap. 21, pp 669–702. Kluwers International Series in Operations Research & Management Science. Kluwer, London (1999) · Zbl 1052.90569
[2] Magee J.F. (1958). Production Planning and Inventory Control. McGraw-Hill, New York
[3] Vassian H.J. (1955). Application of discrete variable servo theory to inventory control. J. Oper. Res. Soc. Am. 3(3): 272–282
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