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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Production-inventory policy for a deteriorating item with a single vendor-buyer system
TL;DR: In this article, a production-inventory models for a deteriorating item in a sin- gle vendor-buyer system has been developed with constant production and demand rate, and the sensitivity analysis with respect to rates of production, demand and deterioration are performed.
Journal ArticleDOI
A new production and shipment policy for a coordinated single-vendor single-buyer system with deteriorating items
Ya Liu,Qingpu Li,Zhen Yang +2 more
TL;DR: A new production and shipment policy for a coordinated single-vendor single-buyer system with the consideration of item deterioration to minimize the joint total cost is proposed and the mathematical model developed based on the explored properties is simplified.
Journal ArticleDOI
Coordinate inventory models with two-level credit policy and a price negotiation scheme in declining market
Nita H. Shah,Nidhi Raykundaliya +1 more
TL;DR: In this study, the coordinated inventory models with allowable trade credit are developed and it is observed that price discount policy is beneficial and increases the total joint profit.
Journal Article
A delayed differentiation multi-product FPR model with scrap and a multi-delivery policy – I: Using single-machine production scheme
TL;DR: An unconventional approach to a finite production rate system with delayed differentiation, scrap, and multi-delivery policy is provided and it is demonstrated that its solution procedure can be free of derivatives.
Journal ArticleDOI
An integrated producer–buyer supply chain with delivery cost under stochastic transportation time
Yen-Chen Fu,Chun-Wu Yeh +1 more
TL;DR: In this article, an integrated producer-buyer supply chain is used to simultaneously determine the optimum levels of the safety stock, delivery quantity, and number of shipments in a scenario where all shipments to the buyer are equal-sized batches.
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.