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- W2354484329 abstract "Postponement is a strategy that delays the time point of product differentiation in manufacturing process to overcome demand uncertainty and reduce the total cost of supply chain.Cr5Mo steel pipes are key components in petrochemical refinery plants,the demand of which is difficult to meet due to high varieties and low volumes.Influenced by the first author of this paper,Sinopec Group used postponement to keep intermediate inventory,ingots,to effectively meet the uncertain demand of the final product,pipes.Based on this case,previous models were extended by relaxing the assumption that intermediate products be used up in the differentiation stage,with a state dependent base stock policy proving to be optimal.Experiments using Matlab showed that retaining a certain level of intermediate product inventory can reduce the total cost of the supply chain,if with high holding cost and shortage cost of the final products and with low holding cost of the intermediate products." @default.
- W2354484329 created "2016-06-24" @default.
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- W2354484329 date "2011-01-01" @default.
- W2354484329 modified "2023-09-26" @default.
- W2354484329 title "Optimal postponement strategy with intermediate inventory" @default.
- W2354484329 hasPublicationYear "2011" @default.
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