Brownian motion approximations for tankage assessment and stock control

Article Abstract:

A tankage assessment model for optimizing refinery tank capacity and target stock level is introduced. The model, which characterizes single tanks with a finite capacity, feature a periodic-review replenishment policy and a hybrid demand process consisting of large parcels at fixed intervals and small parcels for continuous delivery. Its performance is analyzed using Brownian motion theory and approximations of the average stock level, probability and expected overflow and stockout per period for different tank capacities and target stock levels.

Inventory control, Brownian motion, Stochastic processes, Oil storage tanks, Tanks, Tanks (Containers)

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Quantitative models for reverse logistics: a review

Article Abstract:

Industrial reuse of products and materials exists in a wide diversity of forms. However, not all reuse activities are in need of new planning methods. The interaction of the new reverse material flows and the traditional forward flows contributes to the complexity of the systems used. In some situations, the two flows are dependent of each other to achieve enough planning. Modern information technology may play a crucial role in managing the increasing uncertainties in systems involved in reuse.

Production Management, Analysis, Business logistics

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A stochastic approach to a case study for product recovery network design

Article Abstract:

A stochastic program based model is presented using deterministic location model for product recovery and facility location network design, which may be extended to explicitly account for the uncertainties. A real case study is also done on recycling sand from demolition waste in the Netherlands.

Netherlands, Science & research, Models, Case studies, Stochastic analysis, Resource recovery facilities, Recycled materials, Demolition derbies

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