Open AccessLEAD-TIME, INVENTORY, AND SAFETY STOCK CALCULATION IN JOB-SHOP MANUFACTURING
Author(s) -
Miguel Afonso Sellitto
Publication year - 2018
Publication title -
acta polytechnica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.207
H-Index - 15
eISSN - 1805-2363
pISSN - 1210-2709
DOI - 10.14311/ap.2018.58.0395
Subject(s) - safety stock , lead time , dependability , inventory turnover , workload , supply chain , inventory control , stock (firearms) , stockout , reliability (semiconductor) , computer science , operations research , inventory cost , buffer stock scheme , inventory theory , operations management , reliability engineering , business , engineering , stock exchange , economics , marketing , mechanical engineering , power (physics) , physics , finance , quantum mechanics , macroeconomics , operating system
The purpose of this article is to present a method for calculating the lead-time, the inventory, and the safety stock or buffer in job shop manufacturing, which are essentially stochastic variables. The research method is quantitative modelling. The theoretical foundation of the method relies on the techniques belonging to the WLC (workload control) body of knowledge on the manufacturing management. The study includes an application of the method in a manufacturing plant of the furniture industry, whose operation strategy requires high dependability. The company operates in a supply chain and must have high a reliability in deliveries. Adequate safety stocks, lead times, and inventory levels provide the protection against the lack of reliability in the deliveries. The inventory should remain within a certain range, being as small as possible to maintain low lead times, but not too small that it could provoke a starvation, configuring an optimization problem. The study offers guidelines for a complete application in industries. Further research shall include the influence of the variability of the lot size in the stochastic variables.