Inventory refill policies analysis models for two-echelon supply chain

Open Access
Author:
Li, Xuan
Graduate Program:
Industrial Engineering
Degree:
Master of Science
Document Type:
Master Thesis
Date of Defense:
None
Committee Members:
  • Vittaldas V Prabhu, Thesis Advisor
Keywords:
  • Inventory policy
  • supply chain
  • simulation
Abstract:
There is a growing attention in the world on supply chain management as a new source of potential profits. Traditionally high-profit industries like manufacturing and retailing are squeezed to the bone. Thus, supply chain management, focusing on reducing costs on integrated logistics systems, attracted increasing research funding. Warehouse management is an essential part of the supply chain, in which inventory control and operations management are often discussed. Inventory control is an obvious way to find a balance between the conflicting inventory holding cost and backorder cost. Considering the whole year’s demand as a fixed parameter the lower inventory level inevitably leads to higher turn-over rate, which means, more operations. Warehouse operations cost is rarely discussed because of its miscellaneous nature. This thesis tries to combine these two aspects by adding energy consumption to the supply chain simulation model and comparing the supply chain system under different inventory management policies.