Related papers: An EOQ model for imperfect quality items with mult…
This paper shows a comprehensive analysis of three algorithms (Time Series, Random Forest (RF) and Deep Reinforcement Learning) into three inventory models (the Lost Sales, Dual-Sourcing and Multi-Echelon Inventory Model). These…
As a key circular economy strategy, remanufacturing allows original equipment manufacturers (OEMs) to reduce waste by restoring used products to ``as-new'' conditions. This paper investigates an OEM's optimal remanufacturing business model…
Sequential inspection is a technique employed to monitor product quality during the production process. For smaller batch sizes, the Acceptable Quality Limit(AQL) inspection theory is typically applied, whereas for larger batch sizes, the…
The efficiency of current cargo screening processes at sea and air ports is largely unknown as few benchmarks exists against which they could be measured. Some manufacturers provide benchmarks for individual sensors but we found no…
This tutorial describes recently developed general optimality conditions for Markov Decision Processes that have significant applications to inventory control. In particular, these conditions imply the validity of optimality equations and…
In this work, we investigate the market-making problem on a trading session in which a continuous phase on a limit order book is followed by a closing auction. Whereas standard optimal market-making models typically rely on terminal…
We propose a simulated annealing algorithm specifically tailored to optimise total retrieval times in a multi-level warehouse under complex pre-batched picking constraints. Experiments on real data from a picker-to-parts order picking…
Today's global supply chains face growing challenges due to rapidly changing market conditions, increased network complexity and inter-dependency, and dynamic uncertainties in supply, demand, and other factors. To combat these challenges,…
Inventory management in warehouses directly affects profits made by manufacturers. Particularly, large manufacturers produce a very large variety of products that are handled by a significantly large number of retailers. In such a case, the…
Systems tend to become more and more complex. This has a direct impact on system engineering processes. Two of the most important phases in these processes are requirements engineering and quality assurance. Two significant complexity…
This paper investigates dual sourcing problems with supply mode dependent failure rates, particularly relevant in managing spare parts for downtime-critical assets. To enhance resilience, businesses increasingly adopt dual sourcing…
We study the problem of forecasting the number of units fulfilled (or ``drained'') from each inventory warehouse to meet customer demand, along with the associated outbound shipping costs. The actual drain and shipping costs are determined…
We develop the equilibrium equations for the a model generalizing the continuous review (r, q) lost-sales model with constant lead time, multiple outstanding orders and unit Poisson demand. Demand rate is allowed to depend on inventory…
In this paper we describe a general approach to optimal imperfect maintenance activities of a repairable equipment with independent components. Most of the existing works on optimal imperfect maintenance activities of a repairable equipment…
Drug shortages occur frequently and are often caused by supply chain disruptions. For improvements to occur, it is necessary to be able to estimate the vulnerability of pharmaceutical supply chains. In this work, we present the first model…
This paper proposes a novel method for analyzing food retail processes with a focus on reducing food waste. The approach integrates object-centric process mining (OCPM) with stochastic process discovery and analysis. First, a stochastic…
This study addresses the difficulties associated with inventory management of products with stochastic demand. The objective is to find the optimal combination of order quantity and reorder point that maximizes profit while considering…
The problem of optimal allocation of monitoring resources for tracking transactions progressing through a distributed system, modeled as a queueing network, is considered. Two forms of monitoring information are considered, viz., locally…
To develop decision rules regarding acceptance or rejection of production lots based on sample data is the purpose of acceptance sampling inspection plan. Dependent sampling procedures cumulate results from several preceding production lots…
We study the problem of modeling purchase of multiple products and utilizing it to display optimized recommendations for online retailers and e-commerce platforms. We present a parsimonious multi-purchase family of choice models called the…