|Title:||The implementation of supplier managed inventory program|
|Subject:||Inventory control -- Data processing|
Hong Kong Polytechnic University -- Dissertations
Department of Applied Mathematics
|Pages:||iv, 68,  leaves : ill. ; 30 cm|
|Abstract:||This project presents the development of simulation models for evaluating the operation of a win-win supplier managed inventory (SMI) program. Simulation models were built in Excel Macro languages, which run in any Wintel platform with Microsoft Excel 97 desktop application. The experimental design technique was used to determine the main effects of various controllable input factors, namely, reorder levels, minimum inventory levels, and buffer levels, on the overall system performance. Trade-off curves, which pin-pointed the interest of the manufacturer and its supplier, were plotted and favourable combinations of operating levels of various controllable input factors for both parties were obtained. With the recent advancement in information technology, inventory reviews can cost-effectively be reduced from weekly basis to daily basis. Improved service level with less inventory level can be achieved but small batch delivery became frequent. SMI program is a new concept which brings mutual benefits to both the customer and the supplier. This project revealed some of the rules of engagement to better coordinate both parties for the successful implementation of a SMI program.|
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