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 integrated vendor–buyer replenishment policy for deteriorating items with fuzzy environment and resource constraint
TL;DR: From the numerical analysis, it can be seen that the inverse weighted fuzzy non-linear programming (IWFNLP) method is a more efficient decision-making tool than the CFP method.
Journal ArticleDOI
A Single-Producer Multi-Retailer Integrated Inventory System with Scrap in Production
TL;DR: In this paper, a single-producer multi-retailer integrated inventory system with scrap rate in production is considered and a closed-form optimal replenishment-distribution policy is derived.
Journal ArticleDOI
Inventory decision for products with deterioration and expiration dates for pollution-based supply chain model in fuzzy environments
TL;DR: In this paper , a two-echelon sustainable supply chain (SC) model with a single vendor and a single buyer by considering the detrimental impacts of environmental pollution due to production is proposed.
Journal ArticleDOI
Impact of uncertain demand and lead-time reduction on two-echelon supply chain
TL;DR: A continuous-review vendor-buyer supply chain (SC) model wherein the lead-time is considered as a factor affected upon by the time stamp required for setup and production followed by transportation, demonstrating that a reduction in lead- time can effectively lower safety stock as well as the total cost.
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.