Journal ArticleDOI
A joint economic-lot-size model for purchaser and vendor
TLDR
In this article, a joint economic-lot-size model for a special case where a vendor produces to order for a purchaser on a lot-for-lot basis under deterministic conditions is developed.Abstract:
In a typical purchasing situation, the issues of price, lot sizing, etc, usually are settled through negotiations between the purchaser and the vendor Depending on the existing balance of power, the end result of such a bargaining process may be a near-optimal or optimal ordering policy for one of the parties (placing the other in a position of significant disadvantage) or, sometimes, inoptimal policies for both parties This paper develops a joint economic-lot-size model for a special case where a vendor produces to order for a purchaser on a lot-for-lot basis under deterministic conditions The focus of this model is the joint total relevant cost It is shown that a jointly optimal ordering policy, together with an appropriate price adjustment, can be beneficial economically for both parties or, at the least, does not place either at a disadvantageread more
Citations
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Journal ArticleDOI
Joint Determination of the Production Lot Size and Number of Shipments for EPQ Model with Rework
TL;DR: This paper is concerned with joint determination of the optimal lot size and optimal number of shipments for an economic production quantity (EPQ) model with the reworking of random defective items produced.
Journal ArticleDOI
Consignment stock policy with controllable lead time for effective inventory management in supply chains
Ch. Srinivas,C.S.P. Rao +1 more
TL;DR: An inventory model where the replenishment lead time is assumed to be dependent because at the time of contract with a manufacturer retailer may intend to reduce the lead time for which he pay an additional cost to accomplish the increased production rate.
Journal ArticleDOI
Joint production and shipment lot sizing for a delivery price-based production facility
Shine-Der Lee,Yen Chen Fu +1 more
TL;DR: A joint economic production quantity (EPQ) and delivery quantity model for a production system is investigated in this paper, where an EPQ policy is implemented in the production system, while a smaller shipping quantity is periodically dispatched to the customer.
Journal ArticleDOI
An integrated inventory model with immediate return for defective items under unequal-sized shipments
Hong-Fwu Yu,Wen-Kai K. Hsu +1 more
TL;DR: In this paper, the authors investigate a single-vendor single-retailer production-inventory model with immediate return for imperfect items under an unequal-sized policy and show that the model is optimal.
Journal ArticleDOI
A single-vendor single-buyer joint economic lot size model subject to budget constraints
TL;DR: The purpose of this paper is to present a joint economic lot size (JELS) model, which considers the buyer's and the vendor's budget limitations to achieve a more reliable model solution.
References
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Book
Decision Systems for Inventory Management and Production Planning
TL;DR: In this article, an in-depth discussion of the major decisions in production planning, scheduling, and inventory management faced by organizations, both private and public, is presented, as well as the latest systems used to make decisions, including Just-in-Time Manufacturing, KANBAN, Distribution Requirements Planning and PUSH Control.
Journal ArticleDOI
Eoq formula: is it valid under inflationary conditions?
TL;DR: In this paper, it was shown that changes in the inflation rate should not affect the cost of capital that is utilized in the economic order quantity (EOQ) formula for determining order quantities.
Journal ArticleDOI
The Classical Economic Order Quantity Formula
TL;DR: In this paper, a stochastic version of the classical economic lot size model is developed, which yields the traditional square root formula where the constant demand term is replaced by mean demand.