A Novel Model for Simultaneously Minimising Costs and Risks in Just-in-Time Systems Using Multi-Backup Suppliers: Part 2- Results
This paper implements the inventory model developed in the first part of this paper in a simplified problem to simultaneously reduce costs and risks in JIT systems. This model is developed to ascertain an optimal ordering strategy for procuring raw materials by using regular multi-external and local backup suppliers to reduce the total cost of the products, and at the same time to reduce the risks arising from this cost reduction within production systems. A comparison between the cost of using the JIT system and using the proposed inventory model shows the superiority of the use of the inventory model.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1091544Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1266
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