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A simulation study for a hybrid inventory control strategy with advance demand information

Author

Listed:
  • David Claudio
  • Jie Zhang
  • Ying Zhang

Abstract

Choosing the appropriate production and inventory control strategy is a key factor for the success of modern enterprises. Some industries adopt a Make-To-Order (MTO) policy to improve their punctuality and flexibility, while others adopt a Make-To-Stock (MTS) policy to minimise and control the inventory. This study proposes a hybrid strategy combining MTS and MTO with prioritisation. In the proposed strategy, the pull policy is considered for regular demands while a push policy with priority is applied to customers who notify their demand needs in advance. Through a set of simulation experiments this strategy is proved to be of great effectiveness.

Suggested Citation

  • David Claudio & Jie Zhang & Ying Zhang, 2010. "A simulation study for a hybrid inventory control strategy with advance demand information," International Journal of Industrial and Systems Engineering, Inderscience Enterprises Ltd, vol. 5(1), pages 1-19.
    • Handle: RePEc:ids:ijisen:v:5:y:2010:i:1:p:1-19
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