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Complexity
Volume 2017 (2017), Article ID 1460163, 9 pages
https://doi.org/10.1155/2017/1460163
Research Article

Stochastic Reliability Measurement and Design Optimization of an Inventory Management System

Department of Operations and Information Management, Effat University, P.O. Box 34689, Jeddah 21478, Saudi Arabia

Correspondence should be addressed to Abdulaziz T. Almaktoom; moc.liamg@mootkamlata

Received 1 March 2017; Revised 7 June 2017; Accepted 27 June 2017; Published 30 August 2017

Academic Editor: Dominik T. Matt

Copyright © 2017 Abdulaziz T. Almaktoom. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

Inventory management systems and dynamic reliability measures and controls remain challenging at every stage, especially when time variances and operating conditions are considered. An inventory management system must maintain its adeptness over time while coping with the uncertainty of inventory flow. Unexpected delays during inventory movement can harm the reliability and robustness of the entire system. This paper introduces a method of quantifying the reliability of an inventory management system. Also, a novel, reliability-based robust design optimization model has been developed to optimally allocate and schedule time while considering uncertainty associated with inventory movement. The processes involved include purchasing, shipping, receiving, tracking, warehousing, storage, and turnover. A case study of a furniture company in Saudi Arabia is presented to demonstrate the efficacy of the model.