Inventory control systems for stochastic lead time demand

Abstract

Product inventory control can be used to provide information related to processes of production and distribution products based on lead time and product demand from consumers. The research aims to design product inventory control systems for stochastic lead time demand, and using exponential smoothing to make lead time demand prediction. The design of the control system uses the probability method based on the estimated number of product demand from the market or consumer. This research provides theoretical framework for control systems of products that can determine the size of inventory parameters in supply chain management, that is reorder point and fixed order quantity, so it can manage the production amount and supply of products according to market or consumer demand. The benefits of a product control systems in the inventory management are to provide the necessary inventory allocation information in making decisions to determine the amount of production and distribution of products to consumers. 0 1 1 30 3 2 21 1 Keywords: Probabilistic method; inventory control systems; stochastic lead time demand

Confidence Interval for Multivariate Process Capability indices in Statistical Inventory Control

“…Therefore, the quality characteristics based on the sample are in the stable condition. Based on the formula (10) and (11), it can be investigated that multiple customer demand in stable condition, as shown in Fig. 3.…”

“…Lead time is the time of delay between the start time of the reorder point (the stock level starting the order), while lead time demand is the number of products desired by consumers in the certain period time. Analysis of quality control for daily customer demand in the apparel industry using inventory control system and inventory control model is given by [11,12].…”

Proposal of Set of Optimization Criteria and Their Specific Calculation for Effective Inventory Management in an Industrial Enterprise

“…Some researchers [16], [17], [18] address in their publications a stochasticity of demand and reliability in the supply chain is addressed, however, without any linkage to the economics to inventory management. Alvarez et al [16] focus on a stochastic inventory routing problem under the consideration that both the product supply and the customer demands are uncertain.…”

“…Chuang et al [17] arrived to the result how help researchers realize inventory models with stochastic ramp type demand. Inventory control systems for stochastic lead time demand are analysed by Mustafid et al [18].…”