Abstract:Determining the optimal size of procurement or production is the key word in determining optimal inventory. An integrated procurement and production size optimization model becomes a model that provides optimal results for all parties involved in the supply chain. This study proposes the development of a single producer and multi retailer supply chain model with the aim of minimizing the total inventory cost (TIC). The company distributes products to each retailer for further sale to consumers by the retailer.… Show more
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