A periodic review inventory model with joint orders for a retail gas station | |
| Author | Le Nhu Hung |
| Call Number | AIT Thesis no.ISE-05-13 |
| Subject(s) | Service stations--Inventories Inventories, Retail--Mathematical models |
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Advanced Technologies |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. ISE-05-13 |
| Abstract | In this study, the mathematical model which applies a periodic review inventory system with joint orders is formulated to either minimize the total cost or maximize the total profit for a retail gas station. The normally distributed demand and order-up-to level type control policy are applied in this model in which, for each product i, the periodic review of each product Ri, the time between joint orders R, the order-up-to level of each product Si, the average number of joint orders per year y and the number of trucks per joint order x are the parameters to be determined. To find the optimal set Ri as a multiple of R from the nets of set Ri, the beam search procedure with one best first search is applied to save the time of computation to find the optimal solution. The mathematical model is solved by the search algorithm and by matlab software. The results obtained are found effective. Furthermore, behaviors of the optimal solution affected by the changes of model's parameters are also studied. The results show that the minimum value of service level, the average demand and the standard deviation of demand are the main parameters that affect the optimal solutions. Finally, the accuracy of the mathematical model is validated by a simulation model. Through the analysis results of percent en-or between two methods, we realize that the mathematical model is quite accurate and reliable. |
| Year | 2005 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. ISE-05-13 |
| Type | Thesis |
| School | School of Advanced Technologies (SAT) |
| Department | Department of Industrial Systems Engineering (DISE) |
| Academic Program/FoS | Industrial Systems Engineering (ISE) |
| Chairperson(s) | Anulark Techanitisawad; |
| Examination Committee(s) | Bohez, Erik L. J. ;Huynh Trung Luong; |
| Scholarship Donor(s) | Ministry of Education and Training Vietnam; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2005 |