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Improving the inventory management of components for product X in a shifting assembly environment at Thales

Rietman, C.J. (2024) Improving the inventory management of components for product X in a shifting assembly environment at Thales.

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Abstract:While shifting to an MTS strategy for product x at Thales, an inventory control policy was needed for its components. Where the demand for product x, and thus its components, is deterministic due to a fixed production plan, safety stocks are needed to account for uncertainties in the supply of the components. An inventory management tool has been produced to determine optimal order quantities, safety stocks, and respective ROPs while constraining each component's service level to a target fill rate such that an optimal order fill rate for product x follows. These parameters are then evaluated through a simulation to analyze the contribution of all components to the performance of the assembly of product x. Utilizing the inventory management tool's output can lower inventory efficiency (DOI) by 57% while still meeting an order fill rate of 98%. The research has proven to provide a suitable inventory management tool. Furthermore, an extra analysis was conducted in which possibilities of supply chain coordination concerning decoupling safety stocks over different installations in the supply chain were evaluated. Here it was found that inventory holding costs can be lowered by up to 40% or more based on the uncertainties in supply of the components.
Item Type:Essay (Bachelor)
Clients:
Thales, Hengelo, Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Industrial Engineering and Management BSc (56994)
Link to this item:https://purl.utwente.nl/essays/100620
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