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IJSYSC
2008

Supply-chain modelling and control under proportional inventory-replenishment policies

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Supply-chain modelling and control under proportional inventory-replenishment policies
A novel state-space model of a multi-node supply chain is presented, controlled via local proportional inventory-replenishment policies. The model is driven by a stochastic sequence representing customer demand. The model is analyzed under stationarity conditions and a simple recursive scheme is developed for updating its covariance matrix. This allows us to characterize the "bullwhip effect" (demand amplification) in the chain and to solve an optimization problem for a three-node model involving the minimization of inventory subject to a probabilistic constraint on downstream demand. Finally, issues related to estimation schemes based on local historical data are briefly discussed.
C. I. Papanagnou, G. D. Halikias
Added 12 Dec 2010
Updated 12 Dec 2010
Type Journal
Year 2008
Where IJSYSC
Authors C. I. Papanagnou, G. D. Halikias
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