Determining optimum (s, S) levels of floor stock items in a paint production environment

Ekren, Banu Yetkin; Örnek, Mustafa Arslan

doi:10.1016/j.simpat.2015.06.009

Cited by 9 publications

(4 citation statements)

References 22 publications

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“…Their work provides a powerful solution approach for cases of uncertainty and complicated situations. Ekren and Örnek [31,32] examine (s, S) inventory control problems by using simulation optimization procedures. Ekren and Arslan [33] compare different lateral transshipment policies by considering an (s, S) inventory policy to minimize cost.…”

Section: Literature Reviewmentioning

confidence: 99%

Inventory Share Policy Designs for a Sustainable Omni-Chanel E-Commerce Network

2020

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This paper studies inventory share policies for sustainable omni-channel e-commerce supply network design by seeking for a good integration policy of online and offline retailers so that the overall supply network reduce its cost, environmental negative impacts by the decreased number of shipments from the main depot, and increase its responsiveness. By the recent advancement in information technologies and internet use, e-commerce practice gained popularity also to keep up with the competitive environment. The increased competitive supply chain environment has revealed the business-to-business (B2B) concepts enabling business applications between companies. Strategic alliance is a partnership concept realized between two or more organizations ensuring that stages are managed with consideration of the welfare of the others in the whole network. By considering that there are inventory share policies between stages, we accept the existence of strategic alliance implementation in the network, aiming to increase total network flexibility and profitability as well as sustainability in the network. In the study, we research inventory share policies towards strategic alliance concept to have a network design with a decreased negative effect of demand uncertainty and increased profitability in the network. By inventory share policies, businesses share their current inventories with the others so that transportation cost and CO2 emission caused by traffic intensity is decreased in the network. We propose six inventory share policy combinations and optimize the (s, S) inventory levels under those policies by minimizing total network cost. We utilize the simulation modeling approach for the modeling purpose. We compare the policy results based on the total network cost, the total number of shipments completed from the main warehouse, and total lost sale cost, etc., at the optimal levels and suggest the best policy design.

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Section: Literature Reviewmentioning

confidence: 99%

Inventory Share Policy Designs for a Sustainable Omni-Chanel E-Commerce Network

2020

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“…Since then, lots of different variants of (s, S) policies have been analyzed and a considerable research has accumulated [25][26][27][28] because of its simple and efficient applications. An s, S inventory modelling application is shown by [29] which is a case study in a paint production company in Turkey. The literature papers propose trial of new different transshipment policies as future study.…”

Section: Literature Reviewmentioning

confidence: 99%

Simulation-based lateral transshipment policy optimization for s, S inventory control problem in a single-echelon supply chain network

Ekren

Arslan²

2019

Int. J. Optim. Control, Theor. Appl. (IJOCTA)

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Since it affects the performance of whole supply chain significantly, definition of correct inventory control policy in a supply chain is critical. Recent technological development enabled real time visibility of a supply network by horizontal integration of each node in a supply network. By this opportunity, inventory sharing among stocking locations is also possible in the effort of cost minimization in supply chain management. Hence, lateral transshipment gained popularity and studies seeking the best lateral-transshipment policy is still under research. In this study, we aim to compare different lateral-transshipment policies for an s, S inventory control problem for a single-echelon supply chain network system. In this work, we consider a supply network with three stocking locations which may perform lateral transshipment among them when backorder takes place. We develop the simulation models of the systems in ARENA 14.5 commercial software and compare the performance of the policies by minimizing the total cost under a pre-defined fill rate constraint by using an optimization tool, OptQuest, integrated in that software. The results show that lateral transshipment works well compared to the scenario when there is no lateral transshipment policy in the network.

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“…Herer et al [22] prove that the most effective replenishment policy to reduce the long-term expected cost in a system with a supplier and multiple dealers is the order up to policy. Ekren et al [23,24] examine the inventory control problem by developing the (s, S) inventory model in which they use simulation optimization procedures. Glazebrook et al [25] propose a hybrid policy for a system and they developed a quasi-myopic heuristic method to determine how the proposed hybrid transmissions will occur.…”

Section: Literature Reviewmentioning

confidence: 99%

Omni-Chanel Network Design towards Circular Economy under Inventory Share Policies

et al. 2021

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In this paper, we study inventory share policies in an omni-channel supply network, to contribute to the circular economy (CE) concept. Lateral inventory share implementation provides flexibility and profitability in the supply chain by allowing inventory share between the same echelon locations in a network. Total holding costs and transportation costs can be reduced by lateral inventory share applications, which also contribute to decreased material usage for production over time, as well as reduced CO2 emission released by transportation. Technological and Internet of Things (IoT) developments make it possible for companies to share their real-time information with each other for uninterrupted marketing experiences. With such a connected network, companies aim to increase their profitability and responsiveness to their customers. We explore a well-designed inventory share policy towards the CE concept under an (s, S) inventory control policy. We simulate several pre-defined share designs by Arena 16.0 commercial software and compare their performances in terms of cost, responsiveness, transportation frequency, inventory held, etc. The results show that, by the implementation of a well-designed lateral inventory share policy, an omni-channel network can benefit from decreased holding cost and transportation cost, contributing to the CE concept.

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Determining optimum (s, S) levels of floor stock items in a paint production environment

Cited by 9 publications

References 22 publications

Inventory Share Policy Designs for a Sustainable Omni-Chanel E-Commerce Network

Inventory Share Policy Designs for a Sustainable Omni-Chanel E-Commerce Network

Simulation-based lateral transshipment policy optimization for s, S inventory control problem in a single-echelon supply chain network

Omni-Chanel Network Design towards Circular Economy under Inventory Share Policies

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