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
Effects of unequal lot size and variable transportation in unreliable supply chain management
TL;DR: The main intent of this study is to solve the shortage problem which occurs due to unreliability of the manufacturer and the objective function is solved by using the classical optimization technique.
Journal ArticleDOI
Sustainable Production–Inventory Model in Technical Cooperation on Investment to Reduce Carbon Emissions
TL;DR: In this paper, the authors proposed a production-inventory model in which the buyer and vendor in the integrated supply chain agree to co-invest funds to reduce carbon emissions and maximize the total profit of the supply chain system.
Journal ArticleDOI
Joint pricing-servicing decision and channel strategies in the supply chain
Desheng Wu,Desheng Wu +1 more
TL;DR: It is shown that vertical integration dominates other strategies and leads to the highest service level but lowest retail price among various channel coordination policies considered here.
Journal ArticleDOI
A fuzzy random integrated inventory model with imperfect production under optimal vendor investment
TL;DR: A methodology is proposed to minimize crisp equivalent of the expected annual integrated total cost so as to obtain the optimal values of the number of shipments, the shipment lot-size, the safety stock factor and the ‘out-of-control’ probability.
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.