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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Optimal shipments, ordering and payment policies for integrated supplier-buyer deteriorating inventory system with price-sensitive trapezoidal demand and net credit
TL;DR: In this paper, an integrated supplier-buyer inventory system is studied when market demand is price-sensitive trapezoidal and units in inventory are subject to deterioration at a constant rate, where the buyer has an option to choose between discount in unit price and delay in settling the account against the purchases made offered by the supplier.
Dissertation
Coordination buyer-supplier in supply chain models from net present value perspective
TL;DR: In this article, the authors examined four parts of production and inventory models for buyer-supplier in the supply chain under deterministic conditions and developed four different VMI models which derive from the classical inventory and Net Present Value (NPV) framework.
Journal Article
Single-setup-multiple-deliveries for a single supplier- single buyer with single product and backorder
TL;DR: Findings show that the policy of frequent shipments in small lot sizes results in less total cost than single shipment policy, and the proposed models determine optimal order quantity, optimal backorder quantity and optimal number of deliveries.
Journal ArticleDOI
Optimizing the Two-Stage Supply Chain Inventory Model with Full Information Sharing and Two Backorders Costs Using Hybrid Geometric-Algebraic Method
TL;DR: In this article, a two-stage serial supply chain system is considered, where a single vendor supplies a single buyer with a single product and the demand at the buyer is deterministic.
Journal ArticleDOI
The single quantity-discount problem under ROI maximization
F.J. Arcelus,G. Srinivasan +1 more
TL;DR: In this paper, the authors extend the all-units quantity-discount pricing model to consider both parties, the buyer and the seller, as maximizers of their respective returns on their investment in inventory.
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.