Jeppesen Uses a Dynamic-Programming-Based DSS to Manage Inventory

Elena Katok · Andrew Lathrop · William J. Tarantino · Susan H. Xu

15 citations0/0 files storedINFORMS Journal on Applied Analytics

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Supply Chain and Inventory Management Management and Optimization Techniques Logistics and Transportation Systems

Abstract

We developed a system for managing inventory at Jeppesen Sanderson, Inc., a major provider of aviation-information products. The system determines order quantities for charts used in flight manuals. These charts contain essential safety information that changes frequently, making standard methods for inventory management ineffective. We formulated the problem as a dynamic programming model and developed a simple heuristic-solution procedure for determining order quantities. Based on this procedure, we also developed a decision support system (DSS) and implemented it for 600 of the most expensive Jeppesen charts. The system has been in use since August 1998, generating actual annual cost reductions of over $800,000.

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References

1958Dynamic Version of the Economic Lot Size Model 1975Optimal Ordering Policies for Perishable Inventory—II 1975Optimal Ordering Policy for a Perishable Commodity with Fixed Lifetime 1984Blood Inventory Management: An Overview of Theory and Practice 1973Optimal ordering policies for a product that perishes in two periods subject to stochastic demand 1973Blood Bank Inventory Control 1978The Fixed-Charge Perishable Inventory Problem 1977On Ordering Perishable Inventory when Both Demand and Lifetime are Random

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