Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy
This paper studies (R, s, S) inventory policy, one of the standard inventory management models in modern supply chains. Extensive numerical simulations and symbolic regression analysis of a supply chain echelon were performed to determine relations and equations needed for efficient planning and opt...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-12-01
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| Series: | Sustainable Futures |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2666188823000060 |
| _version_ | 1797803853564870656 |
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| author | Samir Žic Jasmina Žic Goran Đukić |
| author_facet | Samir Žic Jasmina Žic Goran Đukić |
| author_sort | Samir Žic |
| collection | DOAJ |
| description | This paper studies (R, s, S) inventory policy, one of the standard inventory management models in modern supply chains. Extensive numerical simulations and symbolic regression analysis of a supply chain echelon were performed to determine relations and equations needed for efficient planning and optimising of transport activities related to inventory replenishments.Proposed equations for average order size and required number of orders are tested on 139.500 simulation experiments and determined with R2 goodness of fit and Correlation Coefficient higher than 0.99. Study results represent a decision support tool for optimisations of economic and environmental performance needed for sustainable inventory management. |
| first_indexed | 2024-03-13T05:27:17Z |
| format | Article |
| id | doaj.art-49667276358a44dd9461ac6f136326dd |
| institution | Directory Open Access Journal |
| issn | 2666-1888 |
| language | English |
| last_indexed | 2024-03-13T05:27:17Z |
| publishDate | 2023-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Sustainable Futures |
| spelling | doaj.art-49667276358a44dd9461ac6f136326dd2023-06-15T04:57:10ZengElsevierSustainable Futures2666-18882023-12-015100110Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policySamir Žic0Jasmina Žic1Goran Đukić2University of Rijeka, Faculty of Engineering, Vukovarska 58, 51000 Rijeka, Croatia; Corresponding author.University of Zagreb, Faculty of Mechanical Engineering and Naval Architecture, Ivana Lučića 5, 10002 Zagreb, CroatiaUniversity of Zagreb, Faculty of Mechanical Engineering and Naval Architecture, Ivana Lučića 5, 10002 Zagreb, CroatiaThis paper studies (R, s, S) inventory policy, one of the standard inventory management models in modern supply chains. Extensive numerical simulations and symbolic regression analysis of a supply chain echelon were performed to determine relations and equations needed for efficient planning and optimising of transport activities related to inventory replenishments.Proposed equations for average order size and required number of orders are tested on 139.500 simulation experiments and determined with R2 goodness of fit and Correlation Coefficient higher than 0.99. Study results represent a decision support tool for optimisations of economic and environmental performance needed for sustainable inventory management.http://www.sciencedirect.com/science/article/pii/S2666188823000060Supply chain management(RsS) inventory policyNumerical simulationSymbolic regression |
| spellingShingle | Samir Žic Jasmina Žic Goran Đukić Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy Sustainable Futures Supply chain management (R s S) inventory policy Numerical simulation Symbolic regression |
| title | Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy |
| title_full | Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy |
| title_fullStr | Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy |
| title_full_unstemmed | Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy |
| title_short | Efficient planning and optimization of inventory replenishments for sustainable supply chains operating under (R, s, S) policy |
| title_sort | efficient planning and optimization of inventory replenishments for sustainable supply chains operating under r s s policy |
| topic | Supply chain management (R s S) inventory policy Numerical simulation Symbolic regression |
| url | http://www.sciencedirect.com/science/article/pii/S2666188823000060 |
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