Multi-Item Multi-Stage Production Inventory Model Using AVaR and Permission Value.
IIAI International Congress on Advanced Applied Informatics (IIAI-AAI)(2022)
Abstract
The diversification and individualization of market needs have led to an increase in the variety of products, allowing customers to customize product specifications. Consequently, there is a shorter delivery time and significant fluctuations in order quantities for each product. These fluctuations promote an increase in demand uncertainty. This study considers a multi-item, multi-stage production, and inventory system for the general manufacturing industry. It employs Average Value-at-Risk (AVaR) and game-theoretic concepts to analyze and estimate the risk of the quantity demanded, proposing an optimal production and inventory system.
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Key words
inventory model,avar,production,multi-item,multi-stage
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