Exploring the interaction of inventory policies across the supply chain: An agent-based approach

Ponte, Borja; Sierra, Enrique; García, David de la Fuente; Lozano, Jesús

doi:10.1016/j.cor.2016.09.020

Cited by 37 publications

(15 citation statements)

References 44 publications

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“…It should be highlighted that production-related costs are related to the BW ratio, while inventory-related costs tend to increase as the NSAmp ratio grows increase [7]. This underscores the need for finding an appropriate balance between both sources of internal variability, where it is commonly possible to reduce one of them at the expense of increasing the other [16].…”

Section: Mathematical Modelmentioning

confidence: 99%

The effect of returns volume uncertainty on the dynamic performance of closed-loop supply chains

2019

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We investigate the dynamics of a hybrid manufacturing/remanufacturing system (HMRS) by exploring the impact of the average return yield and uncertainty in returns volume. Through modelling and simulation techniques, we measure the long-term variability of end-product inventories and orders issued, given its negative impact on the operational performance of supply chains, as well as the average net stock and the average backlog, in order to consider the key trade-off between service level and holding requirements. In this regard, prior studies have observed that returns may positively impact the dynamic behaviour of the HMRS. We demonstrate that this occurs as long as the intrinsic uncertainty in the volume of returns is low-increasing the return yield results in decreased fluctuations in production, which enhances the operation of the closed-loop system. Interestingly, we observe a U-shaped relationship between the inventory performance and the return yield. However, the dynamics of the supply chain may significantly suffer from returns volume uncertainty through the damaging Bullwhip phenomenon. Under this scenario, the relationship between the average return yield and the intrinsic returns volume variability determines the operational performance of closed-loop supply chains in comparison with traditional (open-loop) systems. In this sense, this research adds to the still very limited literature on the dynamic behaviour of closed-loop supply chains, whose importance is enormously growing in the current production model evolving from a linear to a circular architecture.

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Section: Mathematical Modelmentioning

confidence: 99%

The effect of returns volume uncertainty on the dynamic performance of closed-loop supply chains

2019

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“…If is reduced, OVR tends to decrease at the expense of an increase in IVR; e.g. see Figure 1 in Ponte, Sierra et al (2017). Therefore, reducing allows managers to decrease orderingrelated costs, generally at the expense of increasing inventory-related costs.…”

Section: Managing the Inventory Flow: The Order-up-to Policiesmentioning

confidence: 99%

Applying machine learning to the dynamic selection of replenishment policies in fast-changing supply chain environments

Priore

Ponte

Rosillo

et al. 2018

International Journal of Production Research

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“…Interestingly, agent-based techniques, an emerging modelling paradigm that has proven to be especially effective for exploring the dynamics of traditional supply chains (e.g. Ponte, Sierra et al 2017), have not yet been employed in the closed-loop field. Finally, nine articles used analytical approaches: discrete (four), continuous (one), state-space control theory (one), and stochastic analysis (three).…”

Section: Quality Assessment and Data Extractionmentioning

confidence: 99%

The boomerang returns? Accounting for the impact of uncertainties on the dynamics of remanufacturing systems

Goltsos

Ponte

Wang

et al. 2018

International Journal of Production Research

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Recent years have witnessed companies abandon traditional open-loop supply chain structures in favour of closed-loop variants, in a bid to mitigate environmental impacts and exploit economic opportunities. Central to the closed-loop paradigm is remanufacturing: the restoration of used products to useful life. While this operational model has huge potential to extend product life-cycles, the collection and recovery processes diminish the effectiveness of existing control mechanisms for open-loop systems. We systematically review the literature in the field of closed-loop supply chain dynamics, which explores the time-varying interactions of material and information flows in the different elements of remanufacturing supply chains. We supplement this with further reviews of what we call the three 'pillars' of such systems, i.e. forecasting, collection, and inventory and production control. This provides us with an interdisciplinary lens to investigate how a 'boomerang' effect (i.e. sale, consumption, and return processes) impacts on the behaviour of the closed-loop system and to understand how it can be controlled. To facilitate this, we contrast closed-loop supply chain dynamics research to the welldeveloped research in each pillar; explore how different disciplines have accommodated the supply, process, demand, and control uncertainties; and provide insights for future research on the dynamics of remanufacturing systems.

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Exploring the interaction of inventory policies across the supply chain: An agent-based approach

Cited by 37 publications

References 44 publications

The effect of returns volume uncertainty on the dynamic performance of closed-loop supply chains

The effect of returns volume uncertainty on the dynamic performance of closed-loop supply chains

Applying machine learning to the dynamic selection of replenishment policies in fast-changing supply chain environments

The boomerang returns? Accounting for the impact of uncertainties on the dynamics of remanufacturing systems

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