Analysis of an inventory system with emergency ordering option at the time of supply disruption

Poormoaied, Saeed; Demirci, Ece Zeliha

doi:10.1007/s00291-021-00636-x

Cited by 5 publications

(3 citation statements)

References 27 publications

(37 reference statements)

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“…In situations where the inventory is out of stock or in some special circumstances, emergency orders can be used as a supplement to the regular order, which can reduce the losses and costs [19]. Models with emergency orders have been studied extensively [20,21].…”

Section: Emergency Ordermentioning

confidence: 99%

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain with Sales Efforts

Gao,

Qu,

Jiang

et al. 2024

Systems

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Environmental responsibility and economic benefits have promoted the development of closed-loop supply chains (CLSCs), and shortages and channels are considered to be two important issues in a CLSC. This paper explores the ordering and channel decisions in a CLSC with new and differentiated remanufactured products; considers the price and sales-effort-dependent demands, as well as the proportion of emergency orders determined by emergency order costs and backorder losses; and establishes integrated and decentralized CLSC game models. We introduce a stochastic sales effort, which affects two types of products. The numerical results show that sales effort and the order quantity of new and remanufactured products exhibit concave and convex functions, respectively. The upper limit of sales effort has a greater impact on supply chain decisions. High sales efforts can serve as a means of coordinating dispersed supply chains. Moreover, in different cases, the decisions of an integrated channel are better than those of a decentralized channel. Finally, whether the supply chain adopts an emergency order strategy depends on the relative cost of emergency orders and out-of-stock costs. According to this research, some management insights are also provided.

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Section: Emergency Ordermentioning

confidence: 99%

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain with Sales Efforts

Gao,

Qu,

Jiang

et al. 2024

Systems

View full text Add to dashboard Cite

show abstract

“…When the inventory is out of stock or under some special circumstances, emergency orders can be used as a supplement to the regular order, which can reduce the loss and cost [19]. Models with emergent order have been studied extensively [20,21].…”

Section: Emergency Ordermentioning

confidence: 99%

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain

Gao,

Qu,

Jiang

et al. 2023

Preprint

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Environmental responsibility and economic benefits have promoted the development of closed-loop supply chain (CLSC), and shortages and channels are considered to be two important issues in CLSC. This paper explores ordering and channel decisions in CLSC with new and differentiated remanufactured products, and considers the price and sales effort-dependent demands, as well as the proportion of emergency orders determined by emergency order costs and backorder losses, and establishes an integrated and decentralized CLSC game models. We introduce a stochastic sales effort, which affects two types of products. Numerical results show that sales effort and the order quantity of new and remanufactured products exhibit concave and convex functions, respectively. Wherein, the upper limit of sales effort has a greater impact on supply chain decisions. High sales efforts can serve as a means of coordinating dispersed supply chains. Moreover, in different cases, decisions of integrated channel are better than those of decentralized channel. Finally, whether the supply chain adopts an emergency order strategy depends on the relative cost of emergency orders and out of stock costs. According to the research in this article, some management insights are also provided.

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“…Several intermittent demand forecasting methods have been developed using Markov models [14], such as the machine learning method [17], the Bootstrap method applied to forecasting aircraft parts [18], the aggregation approach method [13]. Markov Combined Method (MCM) [11], CTMC model [19], Markov Decision Process with Policy Iteration Method [20], and many more. Based on these data, research using the Markov Model to predict intermittent demand for retail companies is rarely done.…”

Section: Introductionmentioning

confidence: 99%

Electronics Spare Part Goods Demand Forecasting Using Markov Model

Tjandra,

Limanto

2024

teknika

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Customer demand forecasting plays an essential part in inventory management in retail companies. Accurate customer demand forecasting will increase a company's competitiveness and play a crucial role in making the right decisions for inventory management. Without demand estimation, products are often purchased more than needed, resulting in overstock or understock product storage in the warehouse. In this paper, we present the results of the Markov Chain method for predicting the quantity of demand for goods in the future to assist decision-making regarding the procurement of commodity goods within the company, especially in the procurement of electronics spare parts in retail companies. This study aims to develop a software-based forecasting system for retail companies using the Markov Model with predictive capabilities. The system will also provide purchasing quantity recommendations to fulfill the stock, calculated from the minimum stock and forecasted demand from customers and suppliers. Using the Markov Chain model, this study predicts electronics spare parts demand using data on item sales during 2022 in a retail company. The forecasting of electronics spare part demand resulted in 88.2% accuracy. The software-based forecasting system has been implemented and tested using black box testing. The testing result shows that the Markov forecasting system is feasible and can be used as a reference in providing electronics spare parts purchasing recommendations for retail companies.

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Analysis of an inventory system with emergency ordering option at the time of supply disruption

Cited by 5 publications

References 27 publications

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain with Sales Efforts

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain with Sales Efforts

Game Models for Ordering and Channel Decisions of New and Differentiated Remanufactured Products in a Closed-Loop Supply Chain

Electronics Spare Part Goods Demand Forecasting Using Markov Model

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