Modelling strategies for vendor-managed inventory.
White, Anthony S. and Censlive, Michael (2005) Modelling strategies for vendor-managed inventory. In: Proceedings of the 23rd international conference of the system dynamics society. Sterman, John D. and Repenning, Nelson P. and Langer, Robin S. and Rowe, Jennifer I. and Yanni, Joan M., eds. The System Dynamics Society. ISBN 0974532924
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Official URL: http://www.systemdynamics.org/conferences/2005/pro...
This paper describes transform approaches to control Vendor-Managed Inventory (VMI). The effect of different modelling techniques and their significance is examined. Modelling was achieved with the Simulink package using the equations developed by Disney and Towill for a VMI system model. Analysis of several types of delay representation were compared to illustrate how the results depend on their formulation. The effect of using a discrete model is to deepen the stock-out and increase the required order rate. Analysis of the stability of the different models are discussed and evaluated. It is shown that the continuous model with an exponential delay is always stable and with a fixed delay can be made stable. The requirement for the system is also computed for a discrete model with exponential delay. Reduced inventory stock-out and a smaller WIP peak are achieved with different order smoothing function. This has special significance for e-manufacture.
|Item Type:||Book Section|
Paper presented in 23rd International Conference of the System Dynamics Society, July 17 – 21, 2005, Boston, USA.
|Research Areas:||School of Science and Technology > Computer and Communications Engineering|
|Deposited On:||08 Mar 2010 11:49|
|Last Modified:||30 Jul 2014 15:09|
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