Multi-period process flexibility with inventory

Philip Kaminsky () and Yang Wang ()
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Philip Kaminsky: University of California Berkeley
Yang Wang: University of California Berkeley

Flexible Services and Manufacturing Journal, 2019, vol. 31, issue 4, No 1, 833-893

Abstract: Abstract Motivated by challenges faced by a biopharmaceutical firm, we extend the traditional process flexibility modeling literature by integrating inventory storage capabilities into these models, and develop general guidelines on how to design an effective supply chain network in this setting. Given the expense of inventory storage in the biopharmaceutical industry, the firm is considering incorporating flexible plants that can produce multiple types of product into their current dedicated supply chain in order to better respond to demand uncertainty while limiting the need for inventory. We develop models leading to insights for related strategic questions, including whether or not a new plant should be flexible, and whether and which plants should be modified to include inventory storage capabilities.

Keywords: Supply chain management; Process flexibility; Inventory (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s10696-019-09342-x

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