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EPRI Reduces Fuel Inventory Costs in the Electric Utility Industry

Author

Listed:
  • Hung-po Chao

    (Electric Power Research Institute, 3412 Hillview Avenue, Palo Alto, California 94303)

  • Stephen W. Chapel

    (Electric Power Research Institute, 3412 Hillview Avenue, Palo Alto, California 94303)

  • Charles E. Clark

    (Decision Focus Incorporated, 4984 El Camino Real, Los Altos, California 94022)

  • Peter A. Morris

    (Applied Decision Analysis, Inc., 3000 Sand Hill Road, Melo Park, California 94025)

  • M. James Sandling

    (Solomon Brothers, New York, New York)

  • Richard C. Grimes

    (Decision Focus Incorporated, 4984 El Camino Real, Los Altos, California 94022)

Abstract

An industry-wide utility fuel inventory model has been used by electric utilities to manage the cost and the risks of holding inventory. The model, which is based on a combination of analytical and simulation models, has been successfully transferred to over 74 utilities for a realized savings of over $125 million.

Suggested Citation

  • Hung-po Chao & Stephen W. Chapel & Charles E. Clark & Peter A. Morris & M. James Sandling & Richard C. Grimes, 1989. "EPRI Reduces Fuel Inventory Costs in the Electric Utility Industry," Interfaces, INFORMS, vol. 19(1), pages 48-67, February.
    • Handle: RePEc:inm:orinte:v:19:y:1989:i:1:p:48-67
    DOI: 10.1287/inte.19.1.48
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    Citations

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    Cited by:

    1. Kosuke Kawakami & Hirokazu Kobayashi & Kazuhide Nakata, 2021. "Seasonal Inventory Management Model for Raw Materials in Steel Industry," Interfaces, INFORMS, vol. 51(4), pages 312-324, July.
    2. Parlar, Mahmut & Wang, Yunzeng & Gerchak, Yigal, 1995. "A periodic review inventory model with Markovian supply availability," International Journal of Production Economics, Elsevier, vol. 42(2), pages 131-136, December.
    3. Parlar, Mahmut & Perry, David, 1995. "Analysis of a (Q, r, T) inventory policy with deterministic and random yields when future supply is uncertain," European Journal of Operational Research, Elsevier, vol. 84(2), pages 431-443, July.
    4. Snyder, Lawrence V., 2014. "A tight approximation for an EOQ model with supply disruptions," International Journal of Production Economics, Elsevier, vol. 155(C), pages 91-108.
    5. Murthy Mudrageda & Frederic H. Murphy, 2007. "Designing safety space in a supply chain to handle system‐wide disruptions," Naval Research Logistics (NRL), John Wiley & Sons, vol. 54(3), pages 258-264, April.

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