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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Book ChapterDOI
Quantitative Models for Centralised Supply Chain Coordination
TL;DR: A review of the literature for quantitative models for centralised supply chain coordination that emphasize inventory management for the period from 1990 to end of 2007 can be found in this paper, where the authors classify the models on the basis of incentive schemes, supply chain levels, and assumptions.
Journal ArticleDOI
Integrated inventory model with quantity discount and price-sensitive demand
Yu Jen Lin,Chia Huei Ho +1 more
TL;DR: In this article, an integrated inventory model is established to find the optimal solutions for order quantity, retail price, and the number of shipments from vendor to buyer in one production run, so that the joint total profit incurred has the maximum value.
Journal ArticleDOI
Quantity discount pricing policies for heterogeneous retailers with price sensitive demand
Qinan Wang,Ruifang Wang +1 more
TL;DR: In this paper, the authors analyzed a supplier's optimal quantity discount policy for a group of independent and heterogeneous retailers, when each retailer faces a demand that is a decreasing function of its retail price.
Journal ArticleDOI
Joint replenishment of multi retailer with variable replenishment cycle under VMI
TL;DR: An example has been shown to illustrate the cost savings under the proposed model of an alternative replenishment scheme allowing for different replenishment cycles for each retailer.
Journal ArticleDOI
A two-echelon supply chain management with setup time and cost reduction, quality improvement and variable production rate
TL;DR: This model investigates the variable production cost for a production house under a two-echelon supply chain management where a single vendor and multi-retailers are involved and considers the reduction of the defective rate and setup cost through investment.
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.