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Cycle time reduction by inventory management

Tijhuis, L.J.B. (2019) Cycle time reduction by inventory management.

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Abstract:Shortening cycle times for the products is one of the goals within supply chain management of the company. Reducing cycle times makes it possible to respond more quickly to customer demand. The cycle time of the products is strongly determined by the purchase leadtime of components that are needed for assembly of the product. By creating a safety stock for the long lead time items, it is possible to shorten the purchase leadtime and thus the cycle time of the products. In addition to the purchase leadtime, we also have to deal with a certain minimum order quantity of the purchase items. This affects the order quantities and indirectly the stock of components. By creating a mathematical model, the optimal order quantities and safety stocks are determined based on data. The model provides insights of the performances resulting from the applied inventory management, such as inventory value, annual costs, performance improvement and financial risks.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:01 general works, 85 business administration, organizational science
Programme:Industrial Engineering and Management MSc (60029)
Link to this item:http://purl.utwente.nl/essays/79278
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