A colored petri net-based modeling method for supply chain inventory management. (March 2022)

• Record Type: Journal Article
• Authors: Drakaki, Maria; Tzionas, Panagiotis
• Is Part Of: Simulation. Volume 98:Number 3(2022)
• Page Start: 257
• Page End: 271
• Publication Date: 2022-03
• Subjects: Supply chain modeling -- Colored Petri Nets -- simulation -- inventory management -- stockout amplification; Computer simulation -- Periodicals; 003.3
• DOI: 10.1177/00375497211038755
• Languages: English
• ISSNs: 0037-5497

Abstract

Supply chain planning and control approaches need to include a wide range of factors in order to optimize production. Supply chain simulation modeling has been identified as a potential methodology toward increasing the efficiency of current systems to this end. The purpose of this paper is to evaluate the impact of inventory management decisions on supply chain performance using a Colored Petri Net based simulation modeling method. The presented method uses hierarchical timed Colored Petri Nets to model inventory management in a multi-stage serial supply chain, under normal operating conditions, and under the presence of disruptions, for both traditional and information sharing configurations. Disruptions are introduced as canceled orders and canceled deliveries, in a time period. Supply chain performance has been evaluated, in the context of order variance amplification and stockout amplification. Validation of the method is done by comparing results obtained for the bullwhip effect with published literature results, as well as by state space analysis results.