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Reserve stock models: Deterioration and preventive replenishment
Maddah, Bacel; Yassine, Ali A.; Salameh, Moueen K.; … - In: European Journal of Operational Research 232 (2014) 1, pp. 64-71
) reserves in manufacturing. One important aspect under-looked in research is the effect of deterioration, where a reserve stock … balance typical economic costs of ordering, holding, and shortage, as well as additional costs of deterioration and preventive … measures. Our main results are showing that (i) deterioration significantly increases cost (up to 5%) and (ii) a preventive …
Persistent link: https://www.econbiz.de/10010738152
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An EOQ model for perishable product with special sale and shortage
Taleizadeh, Ata Allah; Mohammadi, Babak; … - In: International Journal of Production Economics 145 (2013) 1, pp. 318-338
In this paper, for the first time, an inventory control model to determine the optimal order and shortage quantities of a perishable item when the supplier offers a special sale is developed. Four possible cases based on decision that the purchaser might make about the first replenishment policy...
Persistent link: https://www.econbiz.de/10011043342
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Optimal Ordering and Trade Credit Policy for EOQ Model
Soni, Hardik; Shah, Nita H. - In: Indus Journal of Management & Social Science (IJMSS) 2 (2008) 1, pp. 66-76
Trade credit is the most prevailing economic phenomena used by the suppliers for encouraging the retailers to increase their ordering quantity. In this article, an attempt is made to derive a mathematical model to find optimal credit policy and hence ordering quantity to minimize the cost. Even...
Persistent link: https://www.econbiz.de/10008642642
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A private contributions game for joint replenishment
Körpeoğlu, Evren; Şen, Alper; Güler, Kemal - In: Mathematical Methods of Operations Research 75 (2012) 1, pp. 67-82
We study a non-cooperative game for joint replenishment by n firms that operate under an EOQ-like setting. Each firm decides whether to replenish independently or to participate in joint replenishment, and how much to contribute to joint ordering costs in case of participation. Joint...
Persistent link: https://www.econbiz.de/10011000006
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Robust dynamic cooperative games
Bauso, D.; Timmer, J. - In: International Journal of Game Theory 38 (2009) 1, pp. 23-36
Persistent link: https://www.econbiz.de/10005155734
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Joint Inventory Replenishments with Group Discounts Based on Invoice Value
Chakravarty, Amiya K. - In: Management Science 30 (1984) 9, pp. 1105-1112
The study focuses attention on a grouping procedure for the purpose of joint inventory replenishments from a single supplier. The grouping procedure exploits the group discounts available on the total purchase value of a group of index and the economies of scale of order placing costs. In...
Persistent link: https://www.econbiz.de/10009213987
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Properties of the Periodic Review (R, T) Inventory Control Policy for Stationary, Stochastic Demand
Rao, Uday S. - In: Manufacturing & Service Operations Management 5 (2003) 1, pp. 37-53
This paper compares the commonly used periodic review, replenishment interval, order-up-to (R, T ) policy to the continuous review, reorder point, order quantity, (Q, r) model. We show that long-run average cost function for the single-product (R, T ) policy has a structure similar to that of...
Persistent link: https://www.econbiz.de/10009218827
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Generalized Solutions for the joint replenishment problem with correction factor
Dekker, Rommert; Porras Musalem, Porras Musalem, E. - Faculteit der Economische Wetenschappen, Erasmus … - 2005
In this paper we give a complete analysis of the joint replenishment problem (JRP) under constant demands and continuous time. We present a solution method for the JRP when a correction is made for empty replenishments, and we test the solution procedures with real data. We show that the...
Persistent link: https://www.econbiz.de/10010731720
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An Efficient Optimal Solution Method for the Joint Replenishment Problem
Dekker, Rommert; Frenk, Frenk, J.B.G.; Wildeman, R.E. - Faculteit der Economische Wetenschappen, Erasmus … - 1995
During the last two decades, many heuristic procedures for the joint replenishment problem have appeared in the literature. The only available optimal solution procedure was based on an enumerative approach and was computationally prohibitive. In this paper we present an alternative optimal...
Persistent link: https://www.econbiz.de/10010731723
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An efficient optimal solution method for the joint replenishment problem with minimum order quantities
Dekker, Rommert; Porras Musalem, Porras Musalem, E. - Faculteit der Economische Wetenschappen, Erasmus … - 2003
We study the joint replenishment problem (JRP) for M items under deterministic demand, with a minimum order quantity constraint for each item in the replenishment order. We first study an iterative procedure that proves to be not efficient in this case. Further, we derive bounds on the basic...
Persistent link: https://www.econbiz.de/10010731854