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2013 (Vol. 6, Issue: 07)
Article Information:

An Approach to Real Multi-tier Inventory Strategy and Optimization

Ying Liu
Corresponding Author:  Ying Liu 

Key words:  Lead time, multi-tier inventory, service level, safety stock, uncertainties , ,
Vol. 6 , (07): 1178-1183
Submitted Accepted Published
July 26, 2012 September 12, 2012 July 05, 2013
Abstract:

Multi-tier goods inventory strategy and optimization in large enterprises are hard nuts to crack. Thus goods distribution network often either carry excess total inventory, or lower customer service level due to improper goods safety stock in the network. Two typical approaches for managing multi-tier inventory and their pitfalls are examined in this study. Based on the review, real multi-tier inventory strategy and optimization tools are presented with a simulation result to reflect the impact of multi-tier strategy on the network inventory optimization. The result shows that uncertainties in supplier delivery lead-time and/or demand variations will be the two most important factors with non-linear impact.
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  Cite this Reference:
Ying Liu, 2013. An Approach to Real Multi-tier Inventory Strategy and Optimization.  Research Journal of Applied Sciences, Engineering and Technology, 6(07): 1178-1183.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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