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
A surcharge pricing policy for supply chain coordination under the just-in-time (JIT) environment in the presence of backordering
TL;DR: In this article, the authors have studied the surcharge pricing mechanism in the presence of backorder when there is a powerful vendor and have shown that it can coordinate a decentralized supply chain.
Journal ArticleDOI
Evaluation of an integrated supplier‐buyer quality‐control system
TL;DR: Analysis of the interaction of defective, rework, and variable sampling costs reveals that savings are the result of a shift of control effort from the process-control to the lot-acceptance stage, which is the consequence of tradeoffs involving both stages.
Journal ArticleDOI
Composite sourcing policy for multiple products on a single production facility
Taebok Kim,Suresh Kumar Goyal +1 more
TL;DR: In this article, the composite sourcing policy of a single production facility where customer's order quantity can be made internally as well as externally is addressed, where the surplus production capacity within a common production cycle can be utilised for in-sourcing of demand of other suppliers.
Journal ArticleDOI
Analysis on coordinating supply chain inventory through common replenishment epochs
TL;DR: In this paper, the optimality structure of V&P's model was explored using a small-step search procedure and it was shown that the optimal cost curve is piece-wise linear with respect to price discount.
Book ChapterDOI
Empirical Study on the Relationship Between Financial Structure and Economic Growth: An Example of Zhejiang Province
TL;DR: Wang et al. as discussed by the authors used the time-series data from 1978 to 2009 of Zhejiang province to make an empirical analysis on the relationship between financial structure and economic growth, which showed that there is a long-term stable equilibrium relationship.
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.