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A dynamic model for the optimization of decoupling point and production planning in a supply chain

Title
A dynamic model for the optimization of decoupling point and production planning in a supply chain
Author
정인재
Keywords
Optimal control theory; Production smoothing; Zero-inventory; Forecast error
Issue Date
2011-04
Publisher
ELSEVIER SCIENCE BV
Citation
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, v. 131, NO 2, Page. 561-567
Abstract
In this paper, we propose a dynamic model to simultaneously determine the optimal position of the decoupling point and production-inventory plan in a supply chain such that the total cost of the deviation from the target production rate and the target inventory level is minimized. Using the optimal control theory, we derive the closed form of the optimal solution when the production smoothing policy and the zero-inventory policy are applied. The result indicates that under the production smoothing policy, the overestimation of demand rate during the pre-decoupling stage guarantees the existence of the optimal decoupling point; meanwhile the optimal decoupling point exists under zero-inventory policy when the demand rate is underestimated. Also we perform mathematical analysis on the behavior of the optimal production rate and the inventory level and the effect of problem parameters such as the length of the product life cycle and the forecast error on the performance. (C) 2011 Elsevier B.V. All rights reserved.
URI
http://www.sciencedirect.com/science/article/pii/S0925527311000399?via%3Dihub
ISSN
0925-5273
DOI
10.1016/j.ijpe.2011.02.001
Appears in Collections:
COLLEGE OF ENGINEERING[S](공과대학) > INDUSTRIAL ENGINEERING(산업공학과) > Articles
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