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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A three-echelon supply chain for economic growing quantity model with price- and freshness-dependent demand: Pricing, ordering and shipment decisions
TL;DR: In this article, a model for managing inventory in a perishable food products supply chain that begins with farming operations where live inventory items are reared and ends with the consumption of processed inventory is presented.
Journal ArticleDOI
Evaluating the effects of quality regulations on the pharmaceutical supply chain
Xu Chen,Shanshan Li,Xiaojun Wang +2 more
TL;DR: In this article, the authors considered a two-echelon pharmaceutical supply chain comprising two pharmaceutical manufacturers and a pharmacy and derived optimal decisions for three different supply chain power structures considering two scenarios: one scenario featuring quality regulation, and one without.
Journal ArticleDOI
An alternative optimal solution technique for a single-vendor single-buyer integrated production inventory model
TL;DR: In this article, the convexity of the total cost (C) in the lot size (Q) of a single-vendor single-buyer integrated production inventory problem is investigated.
Journal ArticleDOI
Impacts of collaborative investment and inspection policies on the integrated inventory model with defective items
TL;DR: In this paper, the authors investigate the impacts of collaborative investment and inspection policies on an integrated inventory model with defective items, and seek the optimal order quantity, shipping times from the vendor to the buyer per production run, and the defective rate that minimizes the joint total cost per unit time.
Journal ArticleDOI
The Effect of O2O Retail Service Quality in Supply Chain Management
TL;DR: In this study, an advanced supply chain model is developed to increase service in the presence of an unreliable vendor and an online-to-offline (O2O) channeling system to improve the service level of the supply chain management (SCM).
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.