Comparison Of Periodic-Review Inventory Control Policies In A Serial Supply Chain
Supply chain management provides customers with the right product or service at a reasonable price, in the right place, at the right time, and with the best quality possible, thus increasing customer satisfaction. The inventory is held at the multiple sites in a supply chain. Effective and efficient management of inventory in the supply chain process has a significant impact on improving the ultimate customer service provided to the customer. Reducing inventory cost, which is a major part of total supply chain costs, will help provide products or services at a better price. This study aims to compare (R, S) and (R, S, Qmin) inventory control policies in a serial supply chain. We develop a simulation based genetic algorithm (GA) in order to find the optimal numerical "S" value that minimizes the total supply chain cost (TSCC) and compare our results between two methods.
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