Solving the vendor–buyer integrated inventory system with arithmetic–geometric inequality
| Autor: | Leopoldo Eduardo Cárdenas-Barrón, Hui-Ming Wee, Mauricio F. Blos |
|---|---|
| Rok vydání: | 2011 |
| Předmět: |
National Semiconductors
Optimization Inequality Operations research Vendor Computer science Supply chain media_common.quotation_subject Geometry Integrated systems Lot size Response time Walmart Modelling and Simulation Integrated production-inventory model Market share Supply chain management media_common Inventory control Supply chains Competitive markets Inventory costs Competition Alternative approach Procter and gambles Integrated optics Economic production quantity Viewpoints Two stage Sales Computer Science Applications Algebra Algebraic optimization 7 INGENIERÍA Y TECNOLOGÍA Modeling and Simulation Perpetual inventory Buyer systems Integrated inventory Geometric inequalities Economic order quantity Inventory policies Inventory models Optimal solutions |
| Zdroj: | Mathematical and Computer Modelling |
| ISSN: | 0895-7177 |
| DOI: | 10.1016/j.mcm.2010.11.056 |
| Popis: | In the past, economic order quantity (EOQ) and economic production quantity (EPQ) were treated independently from the viewpoints of the buyer or the vendor. In most cases, the optimal solution for one player was non-optimal to the other player. In today's competitive markets, close cooperation between the vendor and the buyer is necessary to reduce the joint inventory cost and the response time of the vendor-buyer system. The successful experiences of National Semiconductor, Wal-Mart, and Procter and Gamble have demonstrated that integrating the supply chain has significantly influenced the company's performance and market share (Simchi-Levi et al. (2000) [1]). Recently, Yang et al. (2007) [2] presented an inventory model to determine the economic lot size for both the vendor and buyer, and the number of deliveries in an integrated two stage supply chain. In this paper, we present an alternative approach to determine the global optimal inventory policy for the vendor-buyer integrated system using arithmetic-geometric inequality. © 2010 Elsevier Ltd. |
| Databáze: | OpenAIRE |
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