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Investigation of Make to Order, Make to Stock and Vendor Managed Inventory Replenishment Strategies in Supply Chain Performance

Moarefdoost, Mohammad Mohsen | 2009

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 39079 (01)
  4. University: Sharif University of Technology
  5. Department: Industrial Engineering
  6. Advisor(s): Hajji, Rasoul
  7. Abstract:
  8. In recent years, numerous companies in various industries apply supply-chain management to improve their market competitiveness. Advances in information technology bring new approaches for managing supply chain activities. Consequently, emphasis on supply-chain coordination has increased in recent years. Vendor managed inventory (VMI) is an important coordination initiative. In VMI, the vendor assumes responsibility for managing inventories at retailers using advanced online messaging and data-retrieval systems. In this dissertation we investigate the effect of VMI on supply chain performance under make-to-order and make-to-stock environment. By using renewal reward theorem, we derive the total inventory cost of system under VMI program in make-to-order and make-to-stock environment as a supply chain performance. Because of stochastic nature of system, some terms in total inventory cost function are more complex to be computed so we resort a numerical experiment and use Mote-Carlo simulation to approximate those terms. Finally, we analyze the effect of environmental parameter such as demand rate, production rate etc., on supply chain performance
  9. Keywords:
  10. Inventory Management ; Goods Supply Chain Management ; Make-to-Stock ; Make-to-Order ; Monte Carlo Simulation ; Vendor Managed Inventory (VMI) ; Renewal Reward Theorem

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