Multi-component inventory policies in assembly systems with demand and supply uncertainties
<Speaker: 홍은정 박사과정, SIMLab>
Date & Time: 11월 17일(금), 10:00am~
Title: Multi-component inventory policies in assembly systems with demand and supply uncertainties
We consider multi-component inventory problems in an assembly system with demand and supply uncertainties. Since every component is necessary for production of a final product, a decision on one component is affected by the inventory levels of other components. This inter-dependency of the components needs a new type of inventory control policy. We first study multi-component inventory policies for an assembly system with stochastic demand. We prove optimal solution properties and develop an algorithm to find the optimal solution for a single-period problem. We also find some solution properties for a multi-period case and provide efficient heuristics for a relatively large number of components. We also find an economic replenishment plan for components with random lead-times in an assembly system. Due to the uncertainty of replenishment lead-times, we should find the optimal order quantities and timings of components simultaneously. We establish a stochastic programming model to find the optimal solution, and study the cost function and solutions properties by using a simple model with two components in two periods. Based on the analysis, we suggest an algorithm to find heuristic solutions within a reasonable computation time. Finally, we consider multi-component inventory problem for an assembly system with both supply and demand uncertainties. We suggest a new structured inventory policy with considering the inter-dependency and characteristics of component inventory, and provide a method to find the best parameters of the suggested inventory policy. Through this research, we can provide managerial insights that can be applied to operate assembly systems efficiently in real situations.
Place : 2501, 멀티미디어 교육실