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Research on SC Inventory Control Policy with Discount Factors

Hua Si-wei

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Abstract

The paper presents an inventory control model based on the SC with discount factors using systems dynamic simulation.After optimizing parameters,the result of three inventory control policies(Kanban,CONWIP and hybrid) are compared and the sensitivity analysis is performed on the discount factors.According to the modeling and analysis,the paper elicits the pros and cons of the three policies.The simulation results show that the hybrid control policy is a better one.

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What this paper is about

The paper presents an inventory control model based on the SC with discount factors using systems dynamic simulation.After optimizing parameters,the result of three inventory control policies(Kanban,CONWIP and hybrid) are compared and the sensitivity analysis is performed on the discount factors.According to the modeling and analysis,the paper elicits the pros and cons of the three policies.The simulation results show that the hybrid control policy is a better one.

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Available abstract

The paper presents an inventory control model based on the SC with discount factors using systems dynamic simulation.After optimizing parameters,the result of three inventory control policies(Kanban,CONWIP and hybrid) are compared and the sensitivity analysis is performed on the discount factors.According to the modeling and analysis,the paper elicits the pros and cons of the three policies.The simulation results show that the hybrid control policy is a better one.

Key concepts: Kanban, Inventory control, Computer science, Sensitivity (control systems), Control (management), Operations research, Operations management, Economics

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