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
More filters
Journal ArticleDOI
A Generalized Algebraic Model for Optimizing Inventory Decisions in a Multi-Stage Complex Supply Chain
TL;DR: In this article, a more generalized inventory coordination mechanism in an n-stage, multi-customer, non-serial supply chain is presented, where the authors extend and generalize pervious works that use algebraic methods to optimize this coordinated supply chain.
Journal ArticleDOI
Lot sizing and unequal-sized shipment policy for an integrated production-inventory system
Bibhas C. Giri,S. Sharma +1 more
TL;DR: An extensive numerical study based on different sets of parameter values is conducted and the optimal results so obtained are analysed to examine the relative performance of the models under equal and unequal shipment policies.
Journal ArticleDOI
The impact of purchasing policy on electronic markets and electronic hierarchies
TL;DR: The feasibility of electronic markets in light of the purchasing policy dictated by corporate strategy is investigated with results from a market research survey which sought impressions of issues involved with an electronic market.
Journal ArticleDOI
Coordination policy for a two-stage supply chain considering quantity discounts and overlapped delivery with imperfect quality
TL;DR: This research incorporates overlapped delivery and imperfect items into the production-distribution model and improves the observable fact that the system might experience shortage during the screening duration and also takes quantity discount into account.
Journal ArticleDOI
Determination of the optimal production policy and product recovery policy: The impacts of sales margin of recovered product
Taebok Kim,Suresh Kumar Goyal +1 more
TL;DR: In this article, the problem of jointly determining both the manufacturer's selling quantity and the recovery rate of used products in a single-manufacturer-single-retailer supply chain is considered.
References
More filters
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.