This paper is focused on the coordination of order and production policy between buyers and suppliers in supply chains. When a buyer and a supplier of an item work independently, the buyer will place orders based on his economic order quantity (EOQ). However, the buyer’s EOQ may not lead to an optimal policy for the supplier. It can be shown that a cooperative batching policy can reduce total c...

The main purpose of this paper is to investigate the retailer’s inventory policy under two levels of trade credit to reflect the supply chain management situation. In this paper, we assume that the retailer has the powerful decision-making right. So, we extend the assumption that the retailer can obtain the full trade credit offered by the supplier and the retailer just offers the partial trade...

Indeed, one of the …rst lessons one learns from studying a variety of hypothetical models is that the problem of economic stabilization is, even in principle, an extremely intricate one, and that a much more thorough investigation of both theoretical principles and empirical relationships would be needed before detailed policy recommendations could be justi…ed.”A. W. Phillips (1957, reprinted 1...

This paper describes how the proper priority structure of non-linear goal programming (NLGP) model can be selected for obtaining economic order quantity(EOQ) of multi-item inventory problems. In the solution process, sensitivity analysis of the priority under the given weight structure of goals has been performed. A set of solution is obtained. From the solutions, the ideal solution is identifi...

ABSTRACT In this paper, we study a deterministic inventory model for deteriorating items under time-dependent partial backlogging. Though lot of factors involving inventory affect the demand, among them time and stock are the most important factors. Therefore, we consider here the combined stock and time varying demand to make the theory more applicable in practice. We study the effects time de...

Abstract The model describes an EOQ model with time-varying deterioration, partial backlogging which depends on the length of the waiting time for the next replenishment, linearly time-varying demand function over a finite time horizon and variable replenishment cycle. The model is solved analytically to obtain the optimal solution of the problem. It is illustrated with the help of a numerical ...

We consider a stochastic fluid EOQ-type model with demand rates that operate in a two-state random environment. This environment alternates between exponentially distributed periods of high demand and generally distributed periods of low demand. The inventory level starts at some level q, and decreases linearly at rate a during the periods of high demand, and at rate b < a at periods of low dem...

In some practical situations, we know a set of possible values of a physical quantity – a set which is not an interval. Since computing with sets is often complicated, it is desirable to approximate this set by an easier-to-process set: namely, with an interval. In this paper, we describe intervals which are the closest approximations to a given set. 1 Formulation of the Problem Why do we need ...

This paper investigates the effects of information sharing and early order commitment on the performance of four inventory policies used by retailers in a supply chain of one capacitated supplier and four retailers. Model parameters and operating conditions are emulated from a local business supplying a standard product to its retailers. Through computer simulation and subsequent analyses, we f...