Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey
Globalization, product proliferation, and fast product innovation have significantly increased the complexities of supply chains in many industries. One of the most important advancements of supply chain management in recent years is the development of models and methodologies for controlling inv...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Hindawi Pub. Corp.
2012
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| Online Access: | http://hdl.handle.net/1721.1/72022 https://orcid.org/0000-0002-4650-1519 |
| _version_ | 1811095308400066560 |
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| author | Simchi-Levi, David Zhao, Yao |
| author2 | Massachusetts Institute of Technology. Department of Civil and Environmental Engineering |
| author_facet | Massachusetts Institute of Technology. Department of Civil and Environmental Engineering Simchi-Levi, David Zhao, Yao |
| author_sort | Simchi-Levi, David |
| collection | MIT |
| description | Globalization, product proliferation, and fast product innovation have significantly increased
the complexities of supply chains in many industries. One of the most important advancements
of supply chain management in recent years is the development of models and methodologies
for controlling inventory in general supply networks under uncertainty and their widefspread
applications to industry. These developments are based on three generic methods: the queueing-inventory method, the lead-time demand method and the flow-unit method. In this paper,
we compare and contrast these methods by discussing their strengths and weaknesses, their
differences and connections, and showing how to apply them systematically to characterize
and evaluate various supply networks with different supply processes, inventory policies, and
demand processes. Our objective is to forge links among research strands on different methods
and various network topologies so as to develop unified methodologies. |
| first_indexed | 2024-09-23T16:15:10Z |
| format | Article |
| id | mit-1721.1/72022 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T16:15:10Z |
| publishDate | 2012 |
| publisher | Hindawi Pub. Corp. |
| record_format | dspace |
| spelling | mit-1721.1/720222022-09-29T19:08:55Z Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey Simchi-Levi, David Zhao, Yao Massachusetts Institute of Technology. Department of Civil and Environmental Engineering Simchi-Levi, David Simchi-Levi, David Zhao, Yao Globalization, product proliferation, and fast product innovation have significantly increased the complexities of supply chains in many industries. One of the most important advancements of supply chain management in recent years is the development of models and methodologies for controlling inventory in general supply networks under uncertainty and their widefspread applications to industry. These developments are based on three generic methods: the queueing-inventory method, the lead-time demand method and the flow-unit method. In this paper, we compare and contrast these methods by discussing their strengths and weaknesses, their differences and connections, and showing how to apply them systematically to characterize and evaluate various supply networks with different supply processes, inventory policies, and demand processes. Our objective is to forge links among research strands on different methods and various network topologies so as to develop unified methodologies. Masdar Institute of Science and Technology National Science Foundation (U.S.) (NSF Contract CMMI-0758069) National Science Foundation (U.S.) (Career Award CMMI-0747779) Bayer Business Services SAP AG 2012-08-07T19:44:08Z 2012-08-07T19:44:08Z 2012-01 2011-08 Article http://purl.org/eprint/type/JournalArticle 1687-9147 1687-9155 http://hdl.handle.net/1721.1/72022 Simchi-Levi, David, and Yao Zhao. “Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey.” Advances in Operations Research 2012 (2012): 1–34. Web. https://orcid.org/0000-0002-4650-1519 en_US http://dx.doi.org/10.1155/2012/126254 Advances in Operations Research Creative Commons Attribution http://creativecommons.org/licenses/by/2.0 application/pdf Hindawi Pub. Corp. Hindawi |
| spellingShingle | Simchi-Levi, David Zhao, Yao Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title | Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title_full | Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title_fullStr | Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title_full_unstemmed | Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title_short | Performance Evaluation of Stochastic Multi-Echelon Inventory Systems: A Survey |
| title_sort | performance evaluation of stochastic multi echelon inventory systems a survey |
| url | http://hdl.handle.net/1721.1/72022 https://orcid.org/0000-0002-4650-1519 |
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