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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Decentralized and centralized supply chains with trade credit option
TL;DR: In this article, the authors explored the role of a credit payment option in supply chain management, where a supplier allows a buyer a specified period to make a payment in full for a purchase made.
Proceedings ArticleDOI
Research on the Modes, Paths and Countermeasures of the Integrative Development of Guangzhou Internet and Cultural Industry
Weisha Cai,Bin Gu,Xingbiao Wang +2 more
TL;DR: Wang et al. as discussed by the authors put forward three paths of the integrative development of Guangzhou Internet and cultural industry, and three countermeasures combining with the paths, which are conducive to the integration of the Guangzhou internet and culture industry.
Journal ArticleDOI
Optimization of Joint Economic Lot Size Model for Vendor-Buyer with Exponential Quality Degradation and Transportation by Chimp Optimization Algorithm
TL;DR: In this paper , a case study on the food industry in Indonesia was presented to optimize the Integrated Single-Vendor Single-Buyer Inventory Problem (I-SVSB-IP).
Modeling of two-echelon inventory system under exponential price dependent demand
TL;DR: In this article, a two-level supply chain model is developed considering a single manufacturer and single retailer, and the main objective of this research is to demonstrate the optimality of the decision variables and objective function for respective entities as well as for the entire chain under exponential price 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.