Creating an Inventory Hedge for Markov-Modulated Poisson Demand: An Application and Model
Creating an Inventory Hedge for Markov-Modulated Poisson Demand: An Application and Model
复制标题
为马尔可夫调制泊松需求创建库存对冲：应用程序和模型
DOI：
10.1287/msom.3.4.306.9970
复制
发表时间：
2001
期刊：
影响因子：
--
通讯作者：
S. Graves
中科院分区：
文献类型：
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作者：
Hari S. Abhyankar;S. Graves
许多公司面临着制造周期长、产品种类繁多、需求不确定、不稳定的环境。一个挑战是如何计划生产和库存，以最低的成本提供最好的客户服务。在本文中，我们首先描述了Teradyne的一个应用程序，在该应用程序中，我们实现了库存对冲，以防止周期性需求变化。基于这一经验，我们开发了一个模型来更好地理解这种对冲政策的有效性。考虑具有马尔可夫调制泊松需求过程的单一聚合产品库存系统。我们为该系统提供了近似的性能度量，并开发了一个优化问题，用于确定中间解耦库存的大小和位置。我们使用这种优化来显示中间解耦库存作为周期性需求环境对冲的价值。
Many firms face environments with long manufacturing leadtimes, great product variety, and uncertain, nonstationary demand. A challenge is how to plan production and inventories to provide the best customer service at the least cost. In this paper, we first describe an application at Teradyne in which we implemented an inventory hedge to protect against cyclic demand variability. Based on this experience, we develop a model to better understand the efficacy of this hedging policy. We consider an inventory system for a single aggregate product with a Markov-modulated Poisson demand process. We provide approximate performance measures for this system and develop an optimization problem for determining the size and location of an intermediate-decoupling inventory. We use this optimization to show the value of an intermediate-decoupling inventory as a hedge for cyclic demand environments.