Push vs. Pull: Choosing the Right Strategy for Inventory and Speed Tradeoff
This paper considers the design and control of a two-stage system that supplies a family of products. The key design issue is the choice of a supply chain integration strategy that enables the firm to offer customers efficient delivery services profitably. We construct a decision model for the optimal lead time and stock level of the semifinished base product that will minimize the total operational cost. We find that under some mild conditions, the optimal policy only depends on the utilization at the upstream stage regardless of the downstream stage. We find that the upstream variability has a more significant impact on the downstream variability in terms of the choice of the optimal policy, the corresponding inventory, and lead time. Further, the guaranteed/constant downstream processing time does not always benefit the supply chain performance.
主讲人简介：
Dr. Xiang Zhu is Associate Professor, Department of Operations, Faculty of Economics and Business, The University of Groningen, The Netherlands. He received his Ph.D.in Industrial Engineering and Engineering Management from the Hong Kong University of Science and Technology. His research focuses on applications of stochastic dynamic programming, queueing theory, optimization theory, and game theory in sustainable operations, supply chain competition and coordination, risk management. His work has been published in Management Science, Transportation Science, Production and Operations Management, Omega, European Journal of Operational Research, Transportation Research Part E, International Journal of Production Economics, etc.
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