Stochastic considerations of Grubbström-Molinder model of MRP, input-output and multi-echelon inventory systems

Stochastic considerations of Grubbström-Molinder model of MRP, input-output and multi-echelon inventory systems

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Article ID: iaor19971329
Country: Netherlands
Volume: 45
Issue: 1/3
Start Page Number: 329
End Page Number: 336
Publication Date: Aug 1996
Journal: International Journal of Production Economics
Authors: ,
Keywords: inventory
Abstract:

In a recent paper Grubbström and Molinder studied theoretically the dynamic relationship between MRP, input-output analysis and multi-echelon inventory systems. In this paper the authors upgrade this approach including in the model the uncertainty of external demand and decison theory elements. In the model they suppose that the authors know only the upper and lower bounds of external demand rate and, because of lack of information, that the external demand is uniformly distributed. The complete decision model for the present case is considered and the advantages of this approach are demonstrated.

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