Safety stock placement for serial systems under supply process uncertainty

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buir.contributor.authorErkip, Nesim K.
dc.citation.epage424en_US
dc.citation.issueNumber2en_US
dc.citation.spage395en_US
dc.citation.volumeNumber32en_US
dc.contributor.authorUrlu, B.
dc.contributor.authorErkip, Nesim K.
dc.date.accessioned2021-02-27T19:11:52Z
dc.date.available2021-02-27T19:11:52Z
dc.date.issued2020
dc.departmentDepartment of Industrial Engineeringen_US
dc.description.abstractIn this study, we address safety stock positioning when demand per period is a known constant but supply is uncertain. The supply is either available or not available, while the setting is that of a periodically reviewed, serial system following a base stock policy. Each stage is allowed to operate according to the guaranteed or stochastic service model. We use a Discrete Time Markov Chain model for expressing the expected on-hand inventories for each stage, along with other terms of interest, as a function of policy parameters determined by a given service level requirement for the end product. Exact models are constructed for single-stage and two-stage systems. As the number of states for a two-stage system grows exponentially, we propose an approximation for expressing the effect of the input stage using a single parameter. A generalization for the approximation is provided for a multi-stage problem. Computational evaluations of the approximation, as well as numerical comparisons of different cases, are presented.en_US
dc.identifier.doi10.1007/s10696-019-09374-3en_US
dc.identifier.issn1936-6582
dc.identifier.urihttp://hdl.handle.net/11693/75630
dc.language.isoEnglishen_US
dc.publisherSpringeren_US
dc.relation.isversionofhttps://dx.doi.org/10.1007/s10696-019-09374-3en_US
dc.source.titleFlexible Services and Manufacturing Journalen_US
dc.subjectInventory managementen_US
dc.subjectSafety stock positioningen_US
dc.subjectSupply uncertaintyen_US
dc.subjectSerial systemsen_US
dc.titleSafety stock placement for serial systems under supply process uncertaintyen_US
dc.typeArticleen_US

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