Gestion des stocks

Cher, important ! Compromis entre stock bas (risque de pnurie) ou haut (cots levs) ? Comment minimiser les cots lis au stock? Stock ?
Pour satisfaire des besoins prsents ou futurs. Matires premires, travaux en cours, produits finis.

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Importance de la gestion des stocks

1. Decoupling function

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Buffer between manufacturing processes. When demand varies over time (agriculture). Seasonal demand. Cost of products vs carrying costs. Shortage costs.
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2. Storing resources 3. Irregular supply or demand 4. Quantity discounts 5. Avoiding stockouts and shortages

Inventory decisions
How much to order? When to order? Minimize total inventory costs:
Cost of the items, Cost of the ordering, Cost of carrying (holding) inventory, Cost of safety stock, Cost of stockouts.
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Inventory cost factors

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First model
Simple. For a single inventory item. Many assumptions:
Demand known and constant. Lead time (time to receive an order) known and constant. No quantity discounts.

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EOQ model
EOQ = economic order quantity Wilson model Assumptions:
Demand known and constant. Lead time known and constant. Receipt of inventory is instantaneous. No quantity discounts. Only ordering cost and carrying cost. Stockouts can be avoided completely.
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Inventory usage
Sawtooth shape.

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Inventory costs
Objective: minimize total annual costs (ordering and carrying).

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Parameters
Q = number of pieces per order. Q* = EOQ = optimal number of pieces per order. D = annual demand for the item. Co = ordering cost per order. Ch = carrying (holding) cost per unit per year.
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Annual ordering cost

Number of orders placed:

D Q D C Q
o

Annual ordering cost:

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Annual holding cost

Average inventory level:

Q 2 Q C 2

Annual holding cost:

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Total annual cost

Ordering and holding cost: Minimal value:

TC =

D Q C + C Q 2
o

dTC D 1 = C + C = 0 dQ Q 2
2
o h

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D 1 C = C Q 2
2 o

Q =
*

2 DC C
h

o
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Example : Sunco Pump Cy

Optimal number of pump housings to order? Annual demand = 1000 units. Ordering cost = $10 per order. Carrying cost = $0.50 per unit per year. EOQ :

Q =
*
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2 DC 2 1000 10 = = 200 C 0.50

o h
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Example : Sunco Pump Cy

250,0 200,0 150,0 100,0 50,0 0,0
40 0 50 0 nt it 10 0 20 0 30 0 60 0 y

Ordering Holding Total

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Q ua

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Purchase cost of inventory items

Total inventory cost: could include the actual cost of the items purchased items:
Price per unit = P. Total annual price is independent from Q : DP.

Average monetary value of the inventory: PQ/2. Often, Ch = IP where I is the annual inventory holding charge as a percent of P. Then:
Q =
*

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2 DC IP

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Reorder point (ROP)

When to reorder ?
Demand per day: d Lead time in days: L Reorder point:

ROP = d L
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EOQ with continuous receipt

Production run model. Setup cost instead of ordering cost.

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Parameters
Q = number of pieces per order (production run). D = annual demand for the item. Cs = setup cost per production run. Ch = carrying (holding) cost per unit per year. p = daily production rate. d = daily demand rate. t = length of the production run in days.
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Annual setup cost

Number of setups per year:

D Q D C Q
s

Annual setup cost:

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Annual holding cost

Maximum inventory level:

Q = pt t = Q p
max = ( p d )
Q d = Q 1 p p Q d 1 p 2 Q d 1 C 2 p
h
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Average inventory level:

Annual holding cost:

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Total annual cost

Setup and holding cost: Minimal value:

TC =

D Q d C + 1 C 2 Q p
s

dTC D 1 d = C + 1 C = 0 2 p dQ Q
2 s h

D 1 d C = 1 C Q p 2
2 s
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Q =
*

2 DC d C 1 p
s h
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Example: Brown Mfg

Production of refrigeration units in batches. Demand = 10,000 units per year. Setup cost = $100. Carrying cost = 50 per unit per year. Production rate = 80 units per day. Daily demand = 60 units per day (167 days per year). What is the optimal batch size?
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Example: solution
D = 10,000 Cs = 100 Ch = 0.50 p = 80 d = 60

2 10,000 100 60 0.50 1 80

2,000,000 0.5 0.25 = 4,000 =

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Quantity discount model

Reduced cost C for items purchased in larger quantities. Discount schedule. Example:
Discount number 1 2 3 Discount quantity 0 to 999 1,000 to 1,999 More than 2,000 Discount Discount cost 0% 4% 5% $5.00 $4.80 $4.75

Trade-off between reduced purchasing cost and increased carrying cost ?

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Total annual inventory cost

Assumption:

C = IC
h

Purchasing cost + ordering cost + carrying cost:

TC = DC +

D Q C + I C Q 2
o

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Total cost curve

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4-step procedure
1. For each discount, calculate Q*. 2. For any discount, if Q* is too low to qualify for the discount, adjust Q* upward to the lowest qualifying quantity. 3. Compute the total cost for each Q* resulting from steps 1 and 2. 4. Select the Q* that has the lowest total cost.
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Example: Brass Dpt Store

Purchase of toy race cars. Quantity discount schedule:
Discount number 1 2 3 Discount quantity 0 to 999 1,000 to 1,999 More than 2,000 Discount 0% 4% 5% Discount cost $5.00 $4.80 $4.75

Ordering cost = $49 per order. Annual demand = 5000 race cars. Carrying charge = 20% of cost.
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Example steps 1 and 2

Q =
* 1

2 5000 49 = 700 0.2 5.00 2 5000 49 = 714 Q = 1000 0.2 4.80

* 2

Q =
* 2

Q =
* 3
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2 5000 49 = 718 Q = 2000 0.2 4.75

* 3
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Example cost curve

30000,00 29000,00

28000,00 Discount 1 27000,00 Discount 2 Discount 3 26000,00

25000,00

24000,00 200 350 500 650 800 950 1100 1250 1400 1550 1700 1850 2000 2150 2300 2450 50

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Example steps 3 and 4

Total cost computations:

Optimal solution:

Q = 1000
* 1

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Safety stock
When demand is uncertain. To avoid stockouts when demand is higher than expected. Increase ROP to reduce the probability of a stockout, according to the probability distribution of the demand during the lead time.

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ABC analysis
A company can have many inventory items. Items are divided into three groups:
Group A : items that are critical to the operation of the company (typically more than 70% of the inventory value, but 10% of all inventory items). Group B : important items, but not critical (typically 20% of inventory value and 20% of inventory items). Group C : not important (10% of inventory value, but 70% of inventory items).

Monitor closely items of group A, and part of items in group B.

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