受固定成本和波动性需求影响下的一套库存管理方法外文翻译.docVIP

外文翻译 An integrated approach to inventory and flexible capacity management subject to fixed costs and non-stationary stochastic demand Material Source:Department of Technology Management Author:Tarkan Tan and Osman Alp Abstract In a manufacturing system with flexible capacity, inventory management can be coupled with capacity management in order to handle fluctuations in demand more effectively. Typical examples include the effective use of temporary workforce and overtime production. In this paper, we discuss an integrated model for inventory and flexible capacity management under non-stationary stochastic demand with the possibility of positive fixed costs, both for initiating production and for using contingent capacity. We analyze the characteristics of the optimal policies for the integrated problem. We also evaluate the value of utilizing flexible capacity under different settings, which enable us to develop managerial insights. Keywords Inventory · Production · Stochastic models · Capacity management · Flexible capacity 1 Introduction A crucial problem that manufacturing companies face is how to cope with volatility in demand. For make-to-stock environments, holding safety stocks is the traditional remedy for handling the variability in demand. If demand is non-stationary, as it is in seasonal business environments, then adjusting production capacity dynamically is another possible tool. While there is an extensive amount of literature on both of thesemeasures, our aim is to contribute to the relatively limited research that considers both at the same time, which may be necessary especially if the demand is both nonstationary and stochastic. Consequently, in this paper we consider a periodic review make-to-stock production environment under non-stationary stochastic demand. In most of the traditional production/inventory literature, either an infinite production capacity is assumed or a given finite capacity is considered as a constraint rather than as