End-of-life service

Article Abstract:

A study was conducted to determine optimal final orders using a minimal cost approach. In line with this, a definition of service level supporting no shortage during the entire end-of-life was utilized. An explicit formula for a close to optimal final order was determined using marginal analysis. Tw types of policies were then considered, namely simple and remove policies. Results indicated that service levels correlated with penalty costs.

Inventory Control, Management, Inventories

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Heirarchical production planning and multi-echelon inventory management

Article Abstract:

A framework for the planning and control of materials flow in a multi-item production system is described. The method seeks to attain a specific customer service level at the minimum cost. An algorithm is utilized for the realization of theoretical ideas into operational procedures. The use of heirarchical planning procedures which takes into account different levels further extends the framework.

Production planning

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