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Loss of HP's heritage

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February 1997, Article 6

Introduction

Manufacturing organizations must always deal with determining how to balance on-hand part inventories and suppliers' response times. Article 6 describes a project called supply chain, which focused on characterizing the various stochastic events influencing a manufacturing organization's shipment and inventory performance. A collection of statistical modeling assumptions, equations, and equation derivations are described that focus on minimizing on-hand inventory and optimizing supplier response time.

The Supply Chain Approach to Planning and Procurement Management

The supply chain approach models stochastic events influencing a manufacturing organization's shipment and inventory performance in the same way that a mechanical engineer models tolerance buildup in a new product design. The objectives are to minimize on-hand inventory and optimize supplier response times.

by Gregory A. Kruger

The Main Event

Article 6 - fe97a6.pdf (63K)

Appendix I: Derivation of the Standard Deviation of Demand Given an R-Week Review Period - fe97a6a.pdf (18K)

Appendix II: The Expected Value and Variance of On-Hand Inventory when there are no Restrictions on Minimum Buy Quantities - fe97a6b.pdf (26K)

Appendix III: The Expected Value and Variance of On-Hand Inventory when there Are Restrictions on Minimum Buy Quantities- fe97a6c.pdf (22K)

Appendix IV: Incorporating SRT (Supplier Response Time) into the Safety Stock Calculations- fe97a6d.pdf (35K)

Appendix V: Derating the Service Level to Account for Reduced Periods of Exposure to Stock-outs as a Result of Minimum Buy or Economic Order Quantities- fe97a6e.pdf (15K)

Appendix VI: Estimating Weekly Demand Uncertainty from Monthly Data - fe97a6f.pdf (14K)

Appendix VII: Adjusting Safety Stock to Account for Yield Loss - fe97a6g.pdf (41K)

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(c) ©1997 Hewlett-Packard Company.

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