The Value of Advance Demand Information in Production/Inventory Systems

Advance demand information, when used effectively, improves the performance of production/inventory systems. In this paper, we investigate the value of advance demand information in production/inventory systems. For a single-stage make-to-stock queue, we assess the value of using advance demand info...

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Veröffentlicht in:	Annals of operations research 2004-02, Vol.126 (1-4), p.135-157
Hauptverfasser:	Karaesmen, Fikri, Liberopoulos, George, Dallery, Yves
Format:	Artikel
Sprache:	eng
Schlagworte:	Cost control Demand Engineering Sciences Inventory Inventory control Inventory management Investigations Literature reviews Mechanics Mechanics of materials Operations research Other Physics Pricing policies Production capacity Production planning Queuing Simulation Stochastic models Studies Suppliers Supply chains
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Beschreibung
Zusammenfassung:	Advance demand information, when used effectively, improves the performance of production/inventory systems. In this paper, we investigate the value of advance demand information in production/inventory systems. For a single-stage make-to-stock queue, we assess the value of using advance demand information under a variety of assumptions on the cost of obtaining advance demand information, and the delivery timing requirements. This analysis enables us to identify conditions under which advance demand information may bring significant benefits. [PUBLICATION ABSTRACT]
ISSN:	0254-5330 1572-9338
DOI:	10.1023/B:ANOR.0000012278.41301.24