Real-time inventory control under autonomous and coordinated mechanisms
Project status: Current
Thrust area: Design Optimization
Research team: Lizhi Wang
The proposed project will compare the pros and cons of autonomous and coordinated mechanisms for real-time production planning and inventory control. The former makes production and inventory control decisions based on local inventory and demand information, whereas the latter collects all the data from all assembly lines and makes these decisions centrally. Successful completion of this project will inform the manufacturing industry about the costs and benefits of each decision-making mechanism. This information will also have implications on the return-on-investment of cloud-based inventory control tools.