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”Evaluation and optimization of innovative production systems of goods and services” JOINT ORDERING AND INSPECTION POLICY FOR A MULTI-PERIOD INVENTORY SYSTEM SUBJECT TO SHRINKAGE ERRORS
BibTeX
@MISC{Rekik_”evaluationand,
author = {Yacine Rekik and Evren Sahin and Yves Dallery},
title = {”Evaluation and optimization of innovative production systems of goods and services” JOINT ORDERING AND INSPECTION POLICY FOR A MULTI-PERIOD INVENTORY SYSTEM SUBJECT TO SHRINKAGE ERRORS},
year = {}
}
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Abstract
ABSTRACT: One of the implicit assumptions considered in the majority of investigations performed in the area of inventory management is that the physical flow of products that passes through an inventory system as well as the associated information flow are free from defects, i.e. for a given type of product, the quantity received matches exactly the quantity ordered or there are no errors occurring during the data capture process. In fact, for a majority of investigations, it is implicitly supposed that the level of the available inventory shown by the information system corresponds exactly to the physical quantity available. However, various factors can create a difference between the expected and the effective physical and information flows and perturb the synchronized evolution between these two flows. We consider an infinite horizon, single-stage, single-product periodic-review inventory in which inventory records are inaccurate. We assume that inventory inaccuracies are introduced by shrinkage type errors that occur within the store. We assume that an inspection policy is performed each a finite number of selling cycles. We propose two situations permitting to manage the joint ordering and inspection policy based on the information we have on shrinkage errors. The comparison between the two situations permits us to analyze the impact of shrinkage errors and the value of taking into account the inaccuracy issue when optimizing both the inventory and inspection policies.
Keyphrases
inspection policy innovative production system service joint ordering inspection policy shrinkage error inventory inaccuracy inventory record implicit assumption joint ordering inaccuracy issue finite number physical flow shrinkage type error inventory system associated information flow data capture process information flow information system physical quantity available inventory synchronized evolution infinite horizon various factor single-product periodic-review inventory inventory management
