SETTING SAFETY LEADTIMES FOR PURCHASED COMPONENTS IN ASSEMBLY SYSTEMS

Wallace J. Hopp

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Supply Chain and Inventory Management Management and Optimization Techniques Operations Management Techniques

Abstract

We consider the problem of setting appropriate safety leadtimes in an assembly system where all components are purchased and the only manufacturing operation is final assembly. First, we describe two formulations of this problem: (1) minimize total inventory carrying and tardiness costs and (2) minimize inventory carrying costs subject to a service constraint. Second, we discuss how these formulations sometimes fail to adequately provide a decision maker with sufficient information to establish leadtimes when applied independently but how they can be used together to provide a useful decision support system. Finally, we describe a procedure similar to ABC analysis that allows us to solve a much smaller related problem whose solution provides a good approximation to the solution of the original problem. We conclude the paper with numerical examples and a discussion of an actual implementation.

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References

1979Decision Systems for Inventory Management and Production Planning 1978The Structure of Economics: A Mathematical Analysis 1986Decision systems for inventory management and production planning 1976MATERIAL REQUIREMENTS PLANNING UNDER UNCERTAINTY 1987Safety stocks in manufacturing systems 1987Setting Planned Leadtimes in Serial Production Systems with Tardiness Costs 1987Stochastic Leadtimes in Two-Level Assembly Systems 1984A simulation-based experimental investigation of supply/timing uncertainty in MRP systems

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2001A Simple and Effective Component Procurement Policy for Stochastic Assembly Systems 2006Inventory and Production Decisions for an Assemble-to-Order System with Uncertain Demand and Limited Assembly Capacity 2016Incentive Alignment and Coordination of Project Supply Chains 2001Due date setting with supply constraints in systems using MRP 1996Manufacturing lead times, system utilization rates and lead-time-related demand

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