• Journal of the Korean Operations Research and Management Science Society
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• v.37 no.4
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• pp.51-65
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• 2012

Battery switching EVs are considered to be a promising alternative to overcome long charging time problems in the EV adoption. The purpose of this research is to develop integrated model for battery inventory and battery switching waiting times. Due to complexity of exact analysis, a practical approximation method is developed, which provides close results to exact values. Numerical experiments show that there exist trade-offs between the battery inventory level and the number of switching stations. The proposed model can be applied to evaluate and select the minimum cost alternative in implementing the battery switching stations.

• Journal of the Korea Society for Simulation
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• v.21 no.3
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• pp.25-33
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• 2012

Ptak & Smith published ORLICKY'S Material Requirement Planning Third Edition in 2011 to correspond the rapidly changed market demand by improving the original MRP based on Theory of Constraints(TOC) replenishment inventory management. This study is to develop the simulation model to decide the proper target inventory level for TOC replenishment inventory management using system dynamics Vensim software. This study shows that the proper target replenishment level is how much significant to manage the inventory by the random sample data simulation. This simulation model will be extended to compare the results of the TOC replenishment inventory management planning with the results of the old MRP planning by the enterprise actual inventory data.

• Industrial Engineering and Management Systems
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• v.14 no.1
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• pp.1-10
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• 2015

In this paper, we consider multi-item inventory management. When managing a multi-item inventory, we coordinate replenishment orders of items supplied by the same supplier. The associated problem is called the joint replenishment problem (JRP). One often-used approach to the JRP is to apply a can-order policy. Under a can-order policy, some items are re-ordered when their inventory level drops to or below their re-order level, and any other item with an inventory level at or below its can-order level can be included in this order. In the present paper, we propose a method for finding the optimal parameter of a can-order policy, the can-order level, for each item in a lost-sales model. The main objectives in our model are minimizing the number of ordering, inventory, and shortage (i.e., lost-sales) respectively, compared with the conventional JRP, in which the objective is to minimize total cost. In order to solve this multi-objective optimization problem, we apply a genetic algorithm. In a numerical experiment using actual shipment data, we simulate the proposed model and compare the results with those of other methods.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.18 no.11
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• pp.2664-2669
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• 2014

Recently, many research efforts have paid attention to spectrum pooling meshanism that provides efficient way to manage transient spectrum requests of secondary users in cognitive radio networks. Spectrum pooling is maintained by WSP (wireless service provider). WSP leases the spectrums stored in her spectrum pool to secondary users with being paid for it. It is natural that WSP tries to get profits as much as possible, which implies the WSP tries to minimize the cost required for maintaining her spectrum pool. In this paper, we model the spectrum pool into a probabilistic inventory model. Assuming secondary users' spectrum requests follow normal distribution, we give a strategic way that minimizes the maintenance cost of the spectrum pool. By a series of simulations, we show that WSP can reduce the total maintenance cost through our inventory model-based spectrum pooling than maintaining fixed inventory level.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2014.10a
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• pp.338-341
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• 2014

Recently, many research efforts have paid attention to spectrum pooling meshanism that provides efficient way to manage transient spectrum requests of secondary users in cognitive radio networks. Spectrum pooling is maintained by WSP (wireless service provider). WSP leases the spectrums stored in her spectrum pool to secondary users with being paid for it. It is natural that WSP tries to get profits as much as possible, which implies the WSP tries to minimize the cost required for maintaining her spectrum pool. In this paper, we model the spectrum pool into a probabilistic inventory model. Assuming secondary users' spectrum requests follow normal distribution, we give a strategic way that minimizes the maintenance cost of the spectrum pool. By a series of simulations, we show that WSP can reduce the total maintenance cost through our inventory model-based spectrum pooling than maintaining fixed inventory level.

• Industrial Engineering and Management Systems
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• v.7 no.3
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• pp.257-265
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• 2008

This paper deals with the joint decisions on pricing and ordering for a monopolistic retailer who sells perishable goods with a fixed lifetime or demand period. The newsvendor-typed problem is formulated as a two-period inventory system where the first period represents the inventory of fresh or new-arrival items and the second period represents the inventory of items that are older but still usable. Demand may be for either fresh items or for somewhat older items that exhibit physical decay or deterioration. The retailer is allowed to adjust the selling price of the deteriorated items in the second period, which stimulates demand and reduces excess season-end or stale inventory. This paper develops a stochastic dynamic programming model that solves the problem of preseason decisions on ordering-pricing and a within-season decision on markdown pricing. We also develop a fixed-price model as a benchmark against the dual-price dynamic model. To illustrate the effect of the dual-price policy on expected profit, we conduct a comparative study between the two models. Extension to a generalized multi-period model is also discussed.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.35 no.1
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• pp.66-78
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• 2012

This paper proposes a computation model of the quantity supplied to optimize inventory costs for the fast fashion. The model is based on a forecasting, a store and production capacity, an assortment planning and quick response model for fast fashion retailers, respectively. It is critical to develop a standardized business process and mathematical model to respond market trends and customer requirements in the fast fashion industry. Thus, we define a product supply model that consists of forecasting, assortment plan, store capacity plan based on the visual merchandising, and production capacity plan considering quick response of the fast fashion retailers. For the forecasting, the decomposition method and multiple regression model are applied. In order to optimize inventory costs. A heuristic algorithm for the quantity supplied is designed based on the assortment plan, store capacity plan and production capacity plan. It is shown that the heuristic algorithm produces a feasible solution which outperforms the average inventory cost of a global fast fashion company.

• Journal of Gifted/Talented Education
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• v.25 no.4
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• pp.511-528
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• 2015

The development process from creative potential to realized talent is complex and non-linear. This feature of the process stands out more in the process of living a creative life in the long-term rather than in a situation to solve certain problems in the short-term. The purpose of this study is to develop Creativity Path Inventory (CPI) for undergraduate students based on Sawyer's Zigzag Model which is one of creative process theories and to verify reliability and validity of the inventory. Thus, reflecting the characteristics of each stage of the model, this study developed 88 items in 8 factors and finally confirmed 38 items in 7 factors through item analysis and verification process on construct validity. Internal consistency of a total of 38 items in CPI turned out to be .835, confirming the reliability of the inventory and goodness-of-fit index of the final model also demonstrated an appropriate result. CPI with verified reliability and validity will help enable people who want to manifest creativity in view of everyday creativity to realize self-improvement by self-reporting their strengths and weaknesses on their own.

• Journal of the Korean Operations Research and Management Science Society
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• v.24 no.3
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• pp.1-11
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• 1999

We consider the problem of determining the spare inventory level for a multiechelon repairable-item inventory system. Our model extends the previous results to the system which has an inventory at the central depot as well as bases. We develop an optimal algorithm to find spare inventory leveis, which minimize the total expected cost and simultaneously satisfy a specified minimum service rate. The algorithm is tested using problems of various sizes to verify the efficiency and accuracy.

• Management Science and Financial Engineering
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• v.20 no.2
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• pp.1-5
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• 2014

The robust inventory control problem was proposed and solved by Bertsimas and Thiele (2006). Their results are very interesting in that the problem can be solved easily and also the solution possesses nice properties of those found in the traditional stochastic inventory control problem. However, their formulation is shown to be incorrect, which invalidates all of the results given there. In this paper, we propose an alternative formulation of the problem which uses a different but practically applicable uncertainty set. Under the newly proposed model, all of the useful properties given in Bertsimas and Thiele (2006) will be shown to be valid.