A computational method is presented which resolves the problem of projecting future stock levels for multiple stockholding locations in production-distribution networks with inventory control. The system aims at minimizing the total customer delinquency within given inventory budgets or within given allowable inventory holding costs. Examples of inventory control mechanisms that can be implemented in conjunction with the framework developed in this paper are base-stock control, (s,S) inventory control, PA inventory control, Constant Work-In-Process (CONWIP), and kanban control. The computations are easy to implement and execute on various hardware platforms, such as a network of LAN-connected personal computers, workstations, or dedicated computer systems.
By: Markus Ettl, Grace Y. Lin
Published in: RC21345 in 1998
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