Multi-item quick response system with budget constraint

Serel, Doğan A.

doi:10.1016/j.ijpe.2012.02.004

Cited by 23 publications

(4 citation statements)

References 47 publications

(64 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The main factors to be analyzed to verify a logistic system made operational according to fast fashion are: number of collections per year; product's life cycle; speed in information processing; logistic lead time; response time; type of production; and type of distribution. In the relationship between QR and retail, this strategy helps the industry -which is based on constantly updated demand information -to reduce inventory management costs (Serel, 2012). Now, to unite the retail industry, the SC's producer link must adopt an appropriate production system to reduce lead time and use up-to-date demand information (Zhang et al, 2013).…”

Section: Methodsmentioning

confidence: 99%

“…One of the main problems related to inventory management is when and how much to ask to ensure the desired levels of availability. These issues, along with competition between firms, have led organizations to develop strategies focused on improving the decision-making process regarding orders and inventories (Fisher et al, 2001;Lowson, 2002;Serel, 2012). To assist in this management, an inventory control model must be chosen so that the classification of items according to their stage in the life cycle directs managers to choose between the models (Rego & Mesquita, 2011).…”

Section: Inventory Management and Quick Response (Qr)mentioning

confidence: 99%

See 1 more Smart Citation

Adoção de Resposta Rápida e gerenciamento de estoques no fast fashion: dois estudos de caso em Minas Gerais

Golobovante¹,

Ribeiro

Gomes

2018

Gest. Prod.

View full text Add to dashboard Cite

Resumo O modelo de negócio adotado por uma empresa deve ser alinhado à definição de estratégias operacionais, que concedam agilidade e flexibilidade necessárias aos suprimentos, à produção e à distribuição. A Resposta Rápida (Quick Response - QR) é uma estratégia operacional em crescimento nas indústrias e sua finalidade é reduzir o tempo despendido nas etapas de produção, para que seja possível desenvolver os produtos poucas semanas antes do período de venda. A QR é especialmente relevante para a estratégia de negócio denominada fast fashion, que exige giro de estoque elevado, inserção frequente de novos produtos nos pontos de venda, agilidade na cadeia de suprimentos (CS) e assertividade na identificação de tendências. O objetivo do artigo é identificar como essa estratégia pode ser operacionalizada via QR e gestão de estoques em dois estudos de caso na indústria de vestuário em Minas Gerais. O estudo adotou uma abordagem qualitativa, com documentação direta como técnica de pesquisa, o método de estudo de caso. Foi observado que uma empresa atua de acordo com a estratégia fast fashion, enquanto a outra – devido à falta de aplicação da QR e pouca eficiência na gestão dos estoques – não obteve sucesso na adoção dessa estratégia de negócios.

show abstract

Section: Methodsmentioning

confidence: 99%

Section: Inventory Management and Quick Response (Qr)mentioning

confidence: 99%

Adoção de Resposta Rápida e gerenciamento de estoques no fast fashion: dois estudos de caso em Minas Gerais

Golobovante¹,

Ribeiro

Gomes

2018

Gest. Prod.

View full text Add to dashboard Cite

show abstract

“…Thus, our study enriches the literature by studying a new form of flexibility. Pasandideh et al (2011) and Serel (2012) incorporate a budget constraint while using the Newsvendor framework. Our study differs from these earlier publications as we minimize the expected shortage of demand, rather than minimizing the total expected cost or maximizing the expected profit, under a given limited budget.…”

Section: Literature Reviewmentioning

confidence: 99%

Surface vs. Air Shipment of Humanitarian Goods under Demand Uncertainty

Park

Kazaz

Webster

2018

Production and Operations Management

View full text Add to dashboard Cite

The combination of insufficient funds and limited information regarding the demand in regions of desperate need presents a great challenge to many humanitarian organizations. This study examines how a humanitarian organization can minimize the expected shortage in delivering relief aid to regions of need, either though surface or air transportation, in the presence of demand uncertainty with a budget constraint. The study makes four contributions. First, we show that when there is reserved supply for air transportation, it is optimal to provide a higher service level through surface shipment to regions with greater demand uncertainty. Second, we show that the demand variation plays a significant role in the allocation of funds between surface and air shipments. The reaction of the humanitarian organization to higher degrees of demand uncertainty can be determined by the optimal level of inventory purchased for surface shipment. If the optimal inventory for surface shipment is less than the mean demand, then we show that increasing degrees of demand uncertainty leads to increasing reliance on the air shipment option with greater levels of inventory reserved for air transportation and decreasing levels of inventory reserved for surface shipment. Third, when there are opportunities to invest in better forecasting, we find that a humanitarian organization should focus its resources on improving the demand forecast in one region as opposed to evenly allocating resources to all regions. Fourth, we show that the expected amount of shortages reduces with a higher number of regions to serve due to a risk‐pooling effect.

show abstract

“…Both methods were compared with a cyclic production strategy. Studies related to various aspects of multi-item production planning and optimization issues have since been extensively conducted [6][7][8][9][10][11][12][13][14].…”

Section: Introductionmentioning

confidence: 99%

Multi-Item EPQ Model with Scrap, Rework and Multi-Delivery using Common Cycle Policy

Chiu¹,

Tseng

et al. 2014

Journal of Applied Research and Technology

View full text Add to dashboard Cite

This paper is concerned with determining the optimal common production cycle policy for a multi-item economic production quantity (EPQ) model with scrap, rework and multiple deliveries. The classic EPQ model considers the optimal replenishment quantity of single product under a perfect production assumption and a continuous inventory issuing policy. However, in real life production planning, manufacturing firms often plan to have multiple products made in turn on a single machine in order to maximize the machine utilization. Also, dealing with random defective items during the production run seems to be an inevitable task, and the multi-delivery policy is commonly adopted for distributing finished items to customers. In this study, we assume a portion of nonconforming items is scrap and the other portion of them can be reworked and repaired in the same production cycle with additional cost. The objective is to determine an optimal common production cycle time that minimizes the long-run average cost per unit time for such a specific multi-item EPQ model with scrap, rework and multi-delivery policy. Mathematical modeling and analysis is used and a closed-form optimal common cycle time for multi-item production planning is obtained. A numerical example is provided to demonstrate the practical usage of research result.

show abstract

Multi-item quick response system with budget constraint

Cited by 23 publications

References 47 publications

Adoção de Resposta Rápida e gerenciamento de estoques no fast fashion: dois estudos de caso em Minas Gerais

Adoção de Resposta Rápida e gerenciamento de estoques no fast fashion: dois estudos de caso em Minas Gerais

Surface vs. Air Shipment of Humanitarian Goods under Demand Uncertainty

Multi-Item EPQ Model with Scrap, Rework and Multi-Delivery using Common Cycle Policy

Contact Info

Product

Resources

About