MITESD_273JF09_lec07

MITESD_273JF09_lec07 - Analysis of Inventory Models with...

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Analysis of Inventory Models with Limited Demand Information David Simchi-Levi
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Sources z The Bullwhip Effect ) Drezner, Ryan, Simchi-Levi, “Quantifying the Bullwhip Effect: The Impact of Forecasting, Lead imes and Information ” Times and Information. ) Chen, Ryan, Simchi-Levi, “The Impact of xponential Smoothing Forecasts on the Bullwhip Exponential Smoothing Forecasts on the Bullwhip Effect.” z inimax Inventory Models Minimax Inventory Models ) Gallego , Ryan, Simchi-Levi, “Minimax Analysis for inite Horizon Inventory Models ” Finite Horizon Inventory Models.
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Quantifying the Bullwhip Effect z The Impact of Forecasting Methods ) Moving Average ) xponential Smoothing Exponential Smoothing z Multi-Stage Supply Chains ) Centralized Information ) Decentralized Information
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A Si l S Ch i A Simple Supply Chain z Single retailer, single manufacturer. ) Retailer observes customer demand, D t . ) Retailer orders q t from manufacturer. Retailer orders ) Lead time + 1 = L . D t q t Retailer Manufacturer L
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A Simple Supply Chain: Order of Events z At end of period t : ) Retailer updates forecast based on D t . ) alculates order- p- point, 1 Calculates order up to point, y t+1 . ) Places order q t+1 . ) Order arrives at start of period t+L . ) Demand is observed and filled. ) Unfilled demand is backlogged.
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A Simple Supply Chain: Inventory Policy z Retailer follows order-up-to policy based on inventory position.
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MITESD_273JF09_lec07 - Analysis of Inventory Models with...

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