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On improving an integrated inventory model for a single vendor and multiple buyers with a relaxed material ordering cycle policy

Abstract : In this paper, we propose a new model for improving the lot size obtained with the model of Woo, Hsu, and Wu (2001) proposed in their paper “An integrated inventory model for a single vendor and multiple buyers with ordering cost reduction” (Int. J. Production Economics 73 203–215). The new model can provide a lower or equal joint total cost as compared to Woo, Hsu, and Wu’s model due to the relaxation of their integral multiple material ordering cycle policy to a fractional-integral multiple material ordering cycle policy. The proposed model is analyzed and an algorithm for calculating the optimal lot size of the model is developed. A numerical study based on the example used by Woo, Hsu, and Wu is presented.
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https://hal-utt.archives-ouvertes.fr/hal-02499518
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Submitted on : Thursday, March 5, 2020 - 12:30:03 PM
Last modification on : Thursday, March 5, 2020 - 7:01:18 PM

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Yugang Yu, Feng Chu, Haoxun Chen. On improving an integrated inventory model for a single vendor and multiple buyers with a relaxed material ordering cycle policy. Journal of Systems Science and Systems Engineering, Springer Verlag (Germany), 2006, 15 (3), pp.298-313. ⟨10.1007/s11518-006-5014-6⟩. ⟨hal-02499518⟩

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