Joint effect of forecasting and lot-sizing method on cost minimization objective of a manufacturer: a case study

• Autorzy: Olesen Jack , Pedersen Carl-Emil Houmøller , Knudsen Markus Germann , Toft Sandra , Nedbailo Vladimir , Prisak Johan , Nielsen Izabela Ewa , Saha Subrata

Identyfikatory

DOI

10.23743/acs-2020-26

• Języki publikacji: EN

Abstrakty

EN

Forecasting and lot-sizing problems are key for a variety of products manufactured in a plant of finite capacity. The plant manager needs to put special emphasis on the way of selecting the right forecasting methods with a higher level of accuracy and to conduct procurement planning based on specific lot-sizing methods and associated rolling horizon. The study is con-ducted using real case data form the Fibertex Personal Care, and has evalu-ated the joint influence of forecasting procedures such as ARIMA, exponen-tial smoothing methods; and deterministic lot-sizing methods such as the Wagner-Whitin method, modified Silver-Meal heuristic to draw insights on the effect of the appropriate method selection on minimization of operational cost. The objective is to explore their joint effect on the cost minimization goal. It is found that a proficient selection process has a considerable impact on performance. The proposed method can help a manager to save substantial operational costs.

Słowa kluczowe

EN

forecasting; ARIMA; inventory management; lot-sizing; economies of scale; production planning; heuristic

PL

prognozowanie; ARIMA; zarządzanie zapasami; wielkość partii; ekonomia skali; planowanie produkcji; heurystyka

• Wydawca: Polskie Towarzystwo Promocji Wiedzy ; Lublin University of Technology
• Czasopismo: Applied Computer Science
• Rocznik: 2020
• Tom: Vol. 16, no 4
• Strony: 21--36
• Opis fizyczny: Bibliogr. 41 poz., fig., tab.

Twórcy

autor

Olesen Jack

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

autor

Pedersen Carl-Emil Houmøller

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

autor

Knudsen Markus Germann

autor

Toft Sandra

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

autor

Nedbailo Vladimir

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

autor

Prisak Johan

• Production Manager, Fibertex Personal Care Group, Aalborg, Denmark

autor

Nielsen Izabela Ewa

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

autor

Saha Subrata

• Aalborg University, Department of Materials and Production, DK 9220, Aalborg East, Denmark

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