Inventory models with reverse logistics for assets acquisition in a liquefied petroleum gas company
| Autor: | Magda Monteiro, Eliana Costa e Silva, Cristina Lopes, Aldina Correia, Rui Lopes |
|---|---|
| Přispěvatelé: | Repositório Científico do Instituto Politécnico do Porto |
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Operations research
Applied Mathematics lcsh:Mathematics 02 engineering and technology Reverse logistics Assets acquisition Investment (macroeconomics) lcsh:QA1-939 01 natural sciences Liquefied petroleum gas 010104 statistics & probability Work (electrical) Order (business) 0202 electrical engineering electronic engineering information engineering Energy company lcsh:Industry 020201 artificial intelligence & image processing lcsh:HD2321-4730.9 Business Asset (economics) 0101 mathematics Inventory models Decision making |
| Zdroj: | Repositório Científico de Acesso Aberto de Portugal Repositório Científico de Acesso Aberto de Portugal (RCAAP) instacron:RCAAP Journal of Mathematics in Industry, Vol 10, Iss 1, Pp 1-15 (2020) |
| Popis: | This paper addresses a case study regarding inventory models for acquiring liquefied petroleum gas (LPG) cylinders. This is an industrial challenge that was proposed at an European Study Group with Industry, by a Portuguese energy company, for which the LPG cylinder is the main asset of its LPG business. Due to the importance of this asset, an acquisition plan must be defined in order to determine the amount of LPG cylinders to acquire, and when to acquire them, in order to optimize the investment. As cylinders are returned and refilled, the reverse logistic flows of these assets must be considered. As the classical inventory models are not suitable for this case study, three new inventory models, which account for the return of LPG cylinders, are proposed in this work. The first proposed model considers deterministic constant demand and continuous returns of LPG cylinders, with discrete replenishment from the supplier. The second model is similar, but for the case when the returnedcylinders cover for the demand. A third model is also proposed considering that boththe demand and the returns are stochastic in nature and the replenishment from thesupplier is discrete. The three models address different scenarios that the company iseither currently facing or is expecting to occur in the near future. There is no funding for this paper. The industrial challenge addressed in this paper was posed in an ESGI which was supported by COST Action TD1409, Mathematics for Industry Network (MI-NET), COST-European Cooperation in Science and Technology. AC and ECS are full members of Center for Research and Innovation in Business Sciences and Information Systems (CIICESI) which is supported by national funds through FCT - Fundação para a Ciência e Tecnologia through project UIDB/04728/2020. MM and RBL are full members of Center for Research and Development in Mathematics and Applications (CIDMA) which is supported by FCT through projects, references UIDB/04106/2020 and UIDP/04106/2020. |
| Databáze: | OpenAIRE |
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