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| Author: | Disney, S.M. Towill, D.R. |
| Title: | On the Bullwhip and Inventory Variance Produced by an Ordering Policy |
| Journal: | Omega
2003 : VOL. 31:3, p. 157-168 |
| Index terms: | INVENTORY CONTROL INVENTORY CONTROL INVENTORIES SUPPLY CHAIN MANAGEMENT |
| Language: | eng |
| Abstract: | The Bullwhip Problem in supply chains is first outlined. A discrete control theory model of a generic model of a replenishment rule is presented. From this model, an analytical expression for bullwhip is derived that is directly equivalent to the common statistical measure often used in simulation, statistical and empirical studies to quantify the bullwhip effect. This analytical expression clearly shows that bullwhip can be reduced by taking a fraction of the error in the inventory position and pipeline position, rather then account for all of the errors every time an ordering decision is made as is common in many scheduling systems. Furthermore, increasing the average age of the forecast reduces bullwhip, as does reducing the production lead-time. |
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