A hybrid simulation approach to planning in a VMI supply chain Online publication date: Mon, 05-Mar-2007
by Jayendran Venkateswaran, Young-Jun Son, Albert T. Jones, Hyeung-Sik J. Min
International Journal of Simulation and Process Modelling (IJSPM), Vol. 2, No. 3/4, 2006
Abstract: In this paper, we propose an innovative approach of integrating the vendor managed inventory (VMI) strategy with a hierarchical approach to production planning (HPP) decisions within a supply chain environment. The proposed architecture is divided into three stages: plan optimisation (Stages I), schedule optimisation (Stage II) and decision evaluation (Stage III). To implement this architecture, we use system dynamics simulations, discrete-event simulations and the High Level Architecture (HLA) as a distributed infrastructure. We describe our approach for the analysis of supply chains in detail and discuss results from experiments that demonstrate the benefits of the proposed architecture.
Online publication date: Mon, 05-Mar-2007
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