Modelling inventories in a network

Modelling inventories in a network

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Article ID: iaor20082884
Country: Germany
Volume: 1
Issue: 4
Start Page Number: 401
End Page Number: 406
Publication Date: Sep 2007
Journal: Optimization Letters
Authors:
Keywords: supply & supply chains
Abstract:

If each inventory in a supply chain, comprising a network of production and transportation facilities, is optimized separately by some EOQ formula, the overall result may be far from optimal. If the objective of inventories is to reduce the variability of production and delivery rates, then this can be modelled as a network system with feedback links. The propagation of demands through the network is described by certain ‘propagation vectors’, and the optimization is with respect to certain feedback factors.

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