A simulation study for a hybrid inventory control strategy with advance demand information
by David Claudio, Jie Zhang, Ying Zhang
International Journal of Industrial and Systems Engineering (IJISE), Vol. 5, No. 1, 2010

Abstract: Choosing the appropriate production and inventory control strategy is a key factor for the success of modern enterprises. Some industries adopt a Make-To-Order (MTO) policy to improve their punctuality and flexibility, while others adopt a Make-To-Stock (MTS) policy to minimise and control the inventory. This study proposes a hybrid strategy combining MTS and MTO with prioritisation. In the proposed strategy, the pull policy is considered for regular demands while a push policy with priority is applied to customers who notify their demand needs in advance. Through a set of simulation experiments this strategy is proved to be of great effectiveness.

Online publication date: Wed, 02-Dec-2009

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