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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Proceedings ArticleDOI
Notice of Retraction A new integrated VMI-based model for single vendor and multiple buyers with ordering cost reduction
Zhenkun Tu,Xinbao Liu +1 more
TL;DR: An integrated model is proposed for a single vendor and multiple different buyers who are simultaneously replenished with goods in one cycle, using the three strategies of VMI, ordering cost reduction strategy, and shipment strategy.
Buyer-Seller Quantity-Discount Strategies Under Profit Maximizing Objectives: A Game-Theoretical Analysis
TL;DR: In this article, a detailed game-theoretical analysis of the buyer-vendor coordination problem embedded in the price-discount inventory model is presented, including the characterization of the Pareto optimal set, determination of profit-sharing mechanisms for the cooperative case and the derivation of parameter-specific non-cooperative mixed strategies.
Book ChapterDOI
A Collaborative Vendor – Buyer Deteriorating Inventory Model for Optimal Pricing, Shipment and Payment Policy with Two – Part Trade Credit
Nita H. Shah,Kunal T. Shukla +1 more
TL;DR: In this article, the authors consider a variant of the trade credit problem, where the vendor offers a two-part trade credit to the buyer to balance the trade off between delayed payment and cash discount.
Proceedings ArticleDOI
Ecological Product Design Value and Remanufacturing for Green Short Life-Cycle Product with Warranty-Dependent Demand in Supply Chain
Chun-Jen Chung,Hui-Ming Wee +1 more
Abstract: Due to environmental warming and consciousness, business globalization and shortened product life-cycle, numerous attentions have been paid to ecology protection, resource saving and effective operations management. Green product and production processes designs have significant influence on the environment and resource re-usage. The relevant EU regulations, such as WEEE, RoSH and EuP, have been encouraging the enteprises to have a friendly way to the earth and reduce the greenhouse effects by controlling the disposals and the gas emission. These green product design and remanufacturing efforts are investigated in the development of an integrated production inventory model. A numerical example is presented to illustrate the theory. Keywords-Integrated production-inventory deteriorating model; Greenhouse effect; Gas emission; Short life-cycle product; Remanufacturing; Warranty-dependent demand
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.