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
An optimal policy for a single-vendor single-buyer integrated production–inventory system with capacity constraint of the transport equipment
TL;DR: Development of an optimal policy for the single-vendor single-buyer integrated production–inventory system to minimize the total joint annual costs incurred by the vendor and the buyer is dealt with.
Journal ArticleDOI
Another look at the single-vendor single-buyer integrated production-inventory problem
Roger M. Hill,Mohd Omar +1 more
TL;DR: In this article, the authors consider a supply chain in which a vendor supplies a product to a buyer and the buyer consumes the product at a fixed rate, and the objective is to determine the production and shipment policy which minimizes long-run total average cost.
Journal ArticleDOI
Hierarchical coordination mechanisms within the supply chain
TL;DR: The question, which information should be disclosed, is of central importance for the overall performance of the supply chain and is the main focus of an extensive quantitative analysis which finally is used to give recommendations for the design of a supply contract.
Journal ArticleDOI
Green-component life-cycle value on design and reverse manufacturing in semi-closed supply chain
Chun-Jen Chung,Hui-Ming Wee +1 more
TL;DR: The results show that the new technology evolution, take-back ratio and the system's holding costs are the critical factors affecting the decision-making in a green supply chain inventory control.
Journal ArticleDOI
Short life-cycle deteriorating product remanufacturing in a green supply chain inventory control system
Chun-Jen Chung,Hui-Ming Wee +1 more
TL;DR: In this paper, the authors investigated green product designs and remanufacturing efforts when they developed an integrated production inventory model with short life-cycles, and they showed that new technology evolution, re-manufacturing ratios and system's holding costs are critical factors affecting decision making in a green supply chain inventory control system.
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.