A Comparative Simulation Study about Supply Chain Inventory Management Strategies Based on System Dynamics

Ling Yun Wei; Ming Xiang Wen; Xiao Guang Zhou

doi:10.4028/www.scientific.net/AMM.701-702.1280

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 701-702A Comparative Simulation Study about Supply Chain...

A Comparative Simulation Study about Supply Chain Inventory Management Strategies Based on System Dynamics

Abstract:

This paper aims to compare benefits of Vendor Managed Inventory (VMI) system and Collaborative Planning, Forecasting, and Replenishment (CPFR) system based on (R,Q) inventory strategy. Four-stage supply chain models that are simulated by system dynamics (SD) methods will be used to support the comparison. In addition, factors of total cost for the whole supply chain (TSC) and product fill rate (fr) can assist to evaluate simulation models. The results of this study indicate that benefits and flexibility of CPFR appear to be higher than VMI under (R, Q) strategy, and key parameters have significant impacts on TSC of the two systems.

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Periodical:

Applied Mechanics and Materials (Volumes 701-702)

Pages:

1280-1285

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.701-702.1280

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Online since:

December 2014

Authors:

Ling Yun Wei, Ming Xiang Wen, Xiao Guang Zhou

Keywords:

CPFR, Supply Chain, System Dynamics, VMI

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References

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