An integrated vendor-managed inventory model for a two-echelon system with order cost reduction

被引:88
作者
Zhang, Tinglong [1 ]
Liang, Liang
Yu, Yugang
Yu, Yan
机构
[1] Anhui Normal Univ, Inst Econ & Management, Anhua 241000, Peoples R China
[2] Univ Sci & Technol China, Sch Management, Hefei 230026, Peoples R China
基金
中国国家自然科学基金;
关键词
inventory; Vendor-Managed Inventory (VMI); integrated model; multiple buyers;
D O I
10.1016/j.ijpe.2006.12.051
中图分类号
T [工业技术];
学科分类号
08 ;
摘要
Simultaneously reducing inventory levels of raw materials, work-in-process, and finished items has become a major focus for supply chain management. In order to achieve a higher degree of coordination and automation among the supply chain parties, the supply chain sometimes invests in reducing the ordering cost to streamline and speed up transactions via the application of information technology. In this paper, an integrated vendor-managed inventory (VMI) model is presented for a single vendor and multiple buyers, where the vendor purchases, and processes raw materials and then delivers finished items to multiple buyers. A joint relevant cost model is developed with constant production and demand rates under the assumption that the buyers' ordering cycles may be different and that each buyer can replenish more than once in one production cycle, in which the investment decision is also considered. A solution procedure of the optimal investment amount and replenishment decision for all the buyers and the vendor is proposed. Three numerical examples with an exponential ordering cost function are presented to provide insight. (c) 2007 Elsevier B.V. All rights reserved.
引用
收藏
页码:241 / 253
页数:13
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