A single-vendor and multiple-buyers production–inventory policy for a deteriorating item

Yang, Po‐Chih; Wee, Hui–Ming

doi:10.1016/s0377-2217(01)00345-9

Cited by 138 publications

(65 citation statements)

References 18 publications

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“…This method however can result in an exhaustive search if k tends to get large values. In studies with similar models and objective function in terms of complexity, researchers develop a heuristic to solve the problem to avoid time consuming solution process (see Pal et al, 2005;Yan, Banerjee, & Yang, 2011;Yang & Wee, 2002). In this research a heuristics is suggested that combines genetic algorithm (GA) and a neighbouring search which can search the feasible area, solve the problem in a short time and give a near-optimal solution.…”

Section: Optimisationmentioning

confidence: 99%

A two-echelon inventory model for a deteriorating item with stock-dependent demand, partial backlogging and capacity constraints

Ghiami

Williams

2013

European Journal of Operational Research

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Section: Optimisationmentioning

confidence: 99%

A two-echelon inventory model for a deteriorating item with stock-dependent demand, partial backlogging and capacity constraints

Ghiami

Williams

2013

European Journal of Operational Research

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“…During the shortage period, the backlogging rate is variable and is dependent on the length of the waiting time for the next replenishment. Let 9. The cost of ordering is C r per replenishment.…”

Section: Assumptions and Notationmentioning

confidence: 99%

Purchasing model for deteriorating items with time-varying demand under inflation and time discounting

Lin

2005

Int J Adv Manuf Technol

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The study proposes a purchasing model, which considers a case of time-varying deterioration, partial back-ordering that depends on the waiting time for backlogging, and time value of money over a finite horizon. The model integrates all possible real-world situations that may happen in dealing with an order quantity. We derive the lower bound of the replenishment for a specific planning horizon and propose a procedure to solve the problem.

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“…Wee (2002, 2003) have conducted research on the inventory policy for deteriorating item in the supply chain including a single vendor and multibuyers. Yang and Wee (2002) developed a multi-lot-size production and inventory model for deteriorating items with constant production and demand rates. The studies on stochastic deteriorating items inventory in the supply chain at present are much less than the ones on the deterministic deteriorating items inventory.…”

Section: Introduction and Literature Reviewmentioning

confidence: 99%

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Rajan¹,

Uthayakumar

2017

J Ind Eng Int

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In this paper we develop an economic order quantity model to investigate the optimal replenishment policies for instantaneous deteriorating items under inflation and trade credit. Demand rate is a linear function of selling price and decreases negative exponentially with time over a finite planning horizon. Shortages are allowed and partially backlogged. Under these conditions, we model the retailer's inventory system as a profit maximization problem to determine the optimal selling price, optimal order quantity and optimal replenishment time. An easy-to-use algorithm is developed to determine the optimal replenishment policies for the retailer. We also provide optimal present value of profit when shortages are completely backlogged as a special case. Numerical examples are presented to illustrate the algorithm provided to obtain optimal profit. And we also obtain managerial implications from numerical examples to substantiate our model. The results show that there is an improvement in total profit from complete backlogging rather than the items being partially backlogged.

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A single-vendor and multiple-buyers production–inventory policy for a deteriorating item

Cited by 138 publications

References 18 publications

A two-echelon inventory model for a deteriorating item with stock-dependent demand, partial backlogging and capacity constraints

A two-echelon inventory model for a deteriorating item with stock-dependent demand, partial backlogging and capacity constraints

Purchasing model for deteriorating items with time-varying demand under inflation and time discounting

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

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