Comparison Of Periodic-Review Inventory Control Policies In A Serial Supply Chain
Journal Title: Alphanumeric Journal - Year 2015, Vol 3, Issue 2
Abstract
Supply chain management provides customers with the right product or service at a reasonable price, in the right place, at the right time, and with the best quality possible, thus increasing customer satisfaction. The inventory is held at the multiple sites in a supply chain. Effective and efficient management of inventory in the supply chain process has a significant impact on improving the ultimate customer service provided to the customer. Reducing inventory cost, which is a major part of total supply chain costs, will help provide products or services at a better price. This study aims to compare (R, S) and (R, S, Qmin) inventory control policies in a serial supply chain. We develop a simulation based genetic algorithm (GA) in order to find the optimal numerical "S" value that minimizes the total supply chain cost (TSCC) and compare our results between two methods.
Authors and Affiliations
Nihan Kabadayı, Timur Keskintürk
Keywords
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- EP ID EP196120
- DOI 10.17093/aj.2015.3.2.5000148311
- Views 126
- Downloads 0
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