A net present value approach to safety stocks in planned production

被引:50
作者
Grubbstrom, RW [1 ]
机构
[1] Linkoping Inst Technol, Dept Prod Econ, S-58183 Linkoping, Sweden
关键词
MRP; input-output analysis; Laplace transform; multi-period production; safety stock; calculus of residues;
D O I
10.1016/S0925-5273(97)00094-7
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
In a number of recent papers, the Laplace transform together with input-output analysis has been applied for the sake of formulating a basic theoretical description of material requirements planning (MRP). The transform approach has had a threefold use; on the one hand, it has been useful for describing time developments of the relevant production, demand and inventory properties in a compact way including effects of order flows and lead times. Second, the transform also captures stochastic properties by functioning as a generating function, and, third, the transform is easily applied for assessing the resulting cash flows when adopting the net present value (NPV) principle (or the annuity stream principle which is a variation of NPV). Input-output analysis, in particular the input matrix, is applied for describing multi-level product structures, which has made the analysis concise and distinct. In this paper we extend the analysis of determining optimal safety stock levels for a sequence of planned production decisions (a one-level MRP system) by applying the annuity stream as a criterion to a simple model instead of the average cost approach previously used. (C) 1998 Elsevier Science B.V. All rights reserved.
引用
收藏
页码:213 / 229
页数:17
相关论文
共 25 条
  • [1] Andersson L.-E., 1994, WP210 LINK I TECHN D
  • [2] [Anonymous], 1960, COMPLEX VARIABLES AP
  • [3] [Anonymous], CAPITAL COSTS INVENT
  • [4] [Anonymous], 1996, INT ENCY BUSINESS MA
  • [5] Aseltine J. A., 1958, TRANSFORM METHOD LIN
  • [6] Stochastic considerations of Grubbstrom-Molinder model of MRP, input-output and multi-echelon inventory systems
    Bogataj, L
    Horvat, L
    [J]. INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS, 1996, 45 (1-3) : 329 - 336
  • [7] BOGATAJ L, 1995, INVENTORY MODELLING, P23
  • [8] Bogataj L., 1995, P INT S OP RES SOR 9, P25
  • [9] CHURCHILL RV, 1958, OPERATIONAL MATH
  • [10] Grubbstrom R.W., 1967, MANAGE SCI, V13, P558, DOI [https://doi.org/10.1287/mnsc.13.7.558, DOI 10.1287/MNSC.13.7.558]