A Novel Model For Simultaneously Minimising Costs And Risks In Just-In-Time Systems Using Multi-Backup Suppliers: Part 2- Results
Faraj El Dabee, Romeo Marin Marian, Yousef M. Amer · Zenodo (CERN European Organization for Nuclear Research) · 2014
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.