Construction and analysis of the model for stochastic optimization of inventory management at a ship repair yard

Authors

DOI:

https://doi.org/10.15587/1729-4061.2018.151922

Keywords:

shipyard, queueing system, materials stocks, risk of idle vessels, optimal inventory management

Abstract

A stochastic model of work of inventory management system at a ship repair yard (SRY) has been developed. In order to account for factors related to uncertainties and risks (random moments of arrival of ships at SRY, random volumes of repairs), it has been proposed to apply the apparatus of Markov drift processes for modeling. These processes make it possible to take into consideration the discrete character of change in the number of vessels at SRY, as well as the ongoing character of fluctuation in the inventory level of materials in warehouse. In this case, docks at SRY are interpreted as a queueing system. It is also assumed that the restocking of materials at a warehouse and their utilization during repair of ships is carried out continuously, at constant intensities, but depending on the availability of a material in warehouse. The result of this study is the stated problem on stochastic optimization of intensities in the resupply of materials based on the criterion of minimum cumulative average current expenses of the yard, which also take into consideration the losses associated with additional downtime of ships due to the lack of materials in warehouse during repair. It has been shown that the results obtained are important to the practical operation of SRY supply department as they make it possible to build a strategy for the replenishment of materials in stock at SRY under conditions of time-dependent non-uniformity in the need for ship repairs. From a theoretical point of view, the obtained results demonstrate a possibility of using the apparatus of Markov drift processes to solve various problems on optimal inventory control under conditions of random fluctuations in the demand for materials in warehouse.

Author Biographies

Igor Petrov, National University "Odessa Maritime Academy" Didrikhsona str., 8, Odessa, Ukraine, 65029

PhD, Professor

Department of Sea Transportation

Mykhaylo Postan, Odessa National Maritime University Mechnikov str., 34, Odessa, Ukraine, 65029

Doctor of Economic Sciences, Professor, Head of Department

Department of Management & Marketing

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Published

2018-12-20

How to Cite

Petrov, I., & Postan, M. (2018). Construction and analysis of the model for stochastic optimization of inventory management at a ship repair yard. Eastern-European Journal of Enterprise Technologies, 6(3 (96), 62–70. https://doi.org/10.15587/1729-4061.2018.151922

Issue

Vol. 6 No. 3 (96) (2018): Control processes

Section

Control processes

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Copyright (c) 2018 Igor Petrov, Mykhaylo Postan

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