Integrating value stream mapping and control theory: A new dynamic supply chain model
AR demand
Make to stock
Make to order
Value stream mapping
Control theory
2023
.Conference presentation
33rd Production and Operations Management Society Annual Conference, May 21st-25th, Orlando, USA.
Abstract
Using value stream maps, we find there are three lead times in a single supply chain echelon: the customer, supplier, and production lead time. There are two replenishment policies; one determines production quantities, the other orders raw material. Our parsimonious model captures the dynamics of both make-to-stock and make-to-order systems.