A single-vendor single-buyer joint economic lot size model subject to budget constraints

Sadjadi, Seyed Jafar; Zokaee, Sh.; Dabiri, Nooraddin

doi:10.1007/s00170-013-5382-2

Cited by 8 publications

(2 citation statements)

References 13 publications

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“…Thus, to be more consistent with real world applications, Mandal and Khan [42] developed a joint economic lot-sizing model under parameter uncertainties because parameters might be imprecise in real world. Afterwards, Sadjadi et al [49] proposed other joint economic lot-sizing model while addressing budget limitations and stated that budget limitation should be considered as a real life problem. Masud et al [1] proposed an efficient solution algorithm to determine optimal decisions for an integrated reliable production-inventory model.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimizing vendor-managed inventory systems with limited storage capacity and partial backordering under stochastic demand

2020

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A supply chain member's coordination is a challenging issue and a key factor of success in business markets. In vendor-managed inventory systems, the vendor makes replenishment decisions at the site of buyer by which the supply chain can be coordinated more efficiently. Two integrated vendor managed inventory systems under continuous review and periodic review replenishment policies are developed considering partial backordering and limited storage capacity at the buyer's side. Furthermore, traditional retailer managed inventory systems under the same settings are developed to compare against the integrated systems. Efficient algorithms are presented to derive the optimal values of decision variables. Finally, numerical experiments and comprehensive sensitivity analysis are used to show the applicability and efficiency of the proposed VMI systems.Mathematics Subject Classification. 90B05.

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Section: Literature Reviewmentioning

confidence: 99%

Optimizing vendor-managed inventory systems with limited storage capacity and partial backordering under stochastic demand

2020

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“…Joint economic lot size (JELS) problems are commonly used in the inventory literature to describe the problem of making joint lot sizing decisions involving multiple entities in a supply chain [20]. One of the JELS problems is integrating inventory management decisions at the vendor and buyer levels [21,22]. is problem is called the Integrated Single-Vendor Single-Buyer Inventory Problem (I-SVSB-IP) [23].…”

Section: Introductionmentioning

confidence: 99%

Optimization of Joint Economic Lot Size Model for Vendor‐Buyer with Exponential Quality Degradation and Transportation by Chimp Optimization Algorithm

2022

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Freight transportation plays a critical role in improving company performance in the modern manufacturing industry. To reduce costs, companies must take advantage of the use of large vehicles. It caused fewer deliveries, but inventory costs and degradation quality are high. One of the joint economic lot size (JELS) problems in supply chain is Integrated Single-Vendor Single-Buyer Inventory Problem (I-SVSB-IP). This study developed the I-SVSB-IP model that considers raw materials’ exponential quality degradation and transportation costs. The objective function of this research was to maximize the Joint Total Profit (JTP). Three decision variables used were inventory cycle time (T), raw material ordering frequency (m), and frequency of delivery of finished products to buyers (n). This study proposed a sophisticated Chimp Optimization Algorithm (ChOA) procedure to solve the I-SVSB-IP problem. A case study on the food industry in Indonesia was presented to optimize the I-SVSB-IP. The results showed that the ChOA procedure had produced an optimal solution compared to the state-of-the-art algorithm. This study also demonstrated a sensitivity analysis of decision and transportation variables to cost, revenue, and JTP. The results show that increasing transport frequency of ordering raw materials (m) and finished products to buyers (n) enhances the total cost and reduces joint total profit. In addition, increasing the rate of quality degradation of raw materials reduces JTP.

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Three-Stage Joint Economic Lot Size Model for Rice Industry Under Budget and Market Space Constraint in Indian Context

Sahare

Yadav

Singh

2020

Lecture Notes on Multidisciplinary Industrial Engineering

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A single-vendor single-buyer joint economic lot size model subject to budget constraints

Cited by 8 publications

References 13 publications

Optimizing vendor-managed inventory systems with limited storage capacity and partial backordering under stochastic demand

Optimizing vendor-managed inventory systems with limited storage capacity and partial backordering under stochastic demand

Optimization of Joint Economic Lot Size Model for Vendor‐Buyer with Exponential Quality Degradation and Transportation by Chimp Optimization Algorithm

Three-Stage Joint Economic Lot Size Model for Rice Industry Under Budget and Market Space Constraint in Indian Context

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