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Title

A global simulation-optimization approach for inventory management in a decentralized supply chain

Authors
Arguilaget Montarelo, Lidia
Glardon, Rémy
Published in Supply Chain Forum. 2017
Abstract The optimal calibration of inventory management policies in a multi-echelon linear supply chain (SC) constitutes a complex problem. The difficulty to provide a clear and unique answer leads to frustration in using serious games for educational purposes. In this work, a simulation-based optimization approach, using a dynamic tabu search metaheuristic, is developed and applied to a specific case of a four-echelon linear SC. A stochastic demand with constant mean is used and different service levels to the market are considered. The results indicate significant differences of the required on-hand inventory, cost contributions and cost element importance between the different echelons. The non-linear influence of the service level on the various parameters and costs is also observed. The obtained results are consistent and provide a clear answer to the stated problem. The methodology developed can be easily generalized to other cases.
Keywords Inventory ManagementSupply ChainOptimization
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ARGUILAGET MONTARELO, Lidia, GLARDON, Rémy, ZUFFEREY, Nicolas. A global simulation-optimization approach for inventory management in a decentralized supply chain. In: Supply Chain Forum, 2017. https://archive-ouverte.unige.ch/unige:92806

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Deposited on : 2017-03-24

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