This paper aims to tackle the problem of profitably meeting product demand through planning of production and storage, assisted by subcontracting. The proposed model enhances profit by minimizing the net cost of production, considering a fluctuating product demand. The data required for testing the model was obtained from existing research literature and industrial experts. The approach involves futuristic demand forecasting and production planning using computational analytics. In addition to the increase in profit, the minimisation of the subcontracting costs adds value to the profit. The results also provide motivation for further research.
S. S, Sivaramakrishnan, S., L, G., and Dr. Anbuudayasankar S. P., “A Supply Chain Business Model With Subcontracting”, Third International Conference on Business Analytics and Intelligence (BAI CONF 2015), Indian Institute of Management Bangalore (IIMB). 2015.