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
Note-On A Quantity Discount Pricing Model to Increase Vendor Profits
TL;DR: In this paper, a generalized version of Monahan's model was developed and demonstrated its equivalence with the joint economic lot size approach suggested by Banerjee Banerje, Avijit.
Journal ArticleDOI
Supply Chain Coordination with Variable Backorder, Inspections, and Discount Policy for Fixed Lifetime Products
TL;DR: In this paper, a channel coordination and quantity discounts between a vendor and a buyer with single-setup multi-delivery (SSMD) strategy was proposed to reduce the joint total cost among supply chain players.
Journal ArticleDOI
Optimizing Supply Chain Collaboration Based on Joint Replenishment and Channel Coordination
Tsung Hui Chen,Jen Ming Chen +1 more
TL;DR: In this article, a joint replenishment program coupled with a channel coordination practice is proposed to investigate the effect of channel coordination on supply chain improvements, and a saving-sharing mechanism is proposed so that Pareto improvements can be achieved among channel participants.
Journal ArticleDOI
The Individually Responsible and Rational Decision Approach to Economic Lot Sizes for One Vendor and Many Purchasers
TL;DR: In this article, the authors present an alternative approach to the same problem: the individually responsible and rational decision (IRRD) approach, which is consistent with a free enterprise system and easy to implement.
Journal ArticleDOI
An optimal joint buyer-seller discount pricing model
TL;DR: This paper provides the vendor with the means for optimally determining both the discount price and the replenishment interval under periodic review for any desired joint savings-sharing scheme between the seller and buyer(s).
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.