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Cost-effective inventory control in a value-added manufacturing system
Liu Xiaoming; Lian Zhaotong
2009-07-16
Source PublicationEuropean Journal of Operational Research
ISSN0377-2217
Volume196Issue:2Pages:534-543
Abstract

This paper considers the cost-effective inventory control of work-in-process (WIP) and finished products in a two-stage distributed manufacturing system. The first stage produces a common WIP, and the second stage consists of several production sites that produce differentiated products with different capacity and service level requirements. The unit inventory holding cost is higher at the second stage. This paper first uses a network of inventory-queue model to evaluate the inventory cost and service level achievable for given inventory control policy, and then derives a very simple algorithm to find the optimal inventory control policy that minimizes the overall inventory holding cost and satisfies the given service level requirements. Some managerial insights are obtained through numerical examples. 

KeywordDistributed Manufacturing System Inventory Inventory-queue Value-added Production
DOI10.1016/j.ejor.2008.04.001
URLView the original
Indexed BySCI ; SSCI
Language英语
WOS Research AreaBusiness & Economics ; Operations Research & Management Science
WOS SubjectManagement ; Operations Research & Management Science
WOS IDWOS:000263206800015
PublisherELSEVIER SCIENCE BV, PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
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Citation statistics
Cited Times [WOS]:10   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF INTEGRATED RESORT AND TOURISM MANAGEMENT
DEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
AffiliationUniversity of Macau
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Liu Xiaoming,Lian Zhaotong. Cost-effective inventory control in a value-added manufacturing system[J]. European Journal of Operational Research,2009,196(2):534-543.
APA Liu Xiaoming,&Lian Zhaotong.(2009).Cost-effective inventory control in a value-added manufacturing system.European Journal of Operational Research,196(2),534-543.
MLA Liu Xiaoming,et al."Cost-effective inventory control in a value-added manufacturing system".European Journal of Operational Research 196.2(2009):534-543.
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