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A note on “lead time reduction strategies in a single-vendor-single-buyer integrated inventory model with lot size-dependent lead times and stochastic demand”

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  • Mou, Qiong
  • Cheng, Yunlong
  • Liao, Huchang

Abstract

Glock [2012. Lead time reduction strategies in a single-vendor-single-buyer integrated inventory model with lot size-dependent lead times and stochastic demand. International Journal of Production Economics 136, 37–44] recently presented an integrated inventory model where the lead time can be reduced by crashing the setup and transportation time, by increasing the production rate, or by decreasing the lot size. In this note, we introduce a more realistic lead time crashing cost and propose a modified integrated inventory model by adding the transportation time as a decision variable and assuming that there are two different safety stocks. Furthermore, we give some numerical examples to illustrate the advantages of the modified model.

Suggested Citation

  • Mou, Qiong & Cheng, Yunlong & Liao, Huchang, 2017. "A note on “lead time reduction strategies in a single-vendor-single-buyer integrated inventory model with lot size-dependent lead times and stochastic demand”," International Journal of Production Economics, Elsevier, vol. 193(C), pages 827-831.
    • Handle: RePEc:eee:proeco:v:193:y:2017:i:c:p:827-831
    DOI: 10.1016/j.ijpe.2017.09.012
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    References listed on IDEAS

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    1. Glock, C. H., 2012. "Lead time reduction strategies in a single-vendor-single-buyer integrated inventory model with lot size-dependent lead times and stochastic demand," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 57816, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Ben-Daya, M. & Hariga, M., 2004. "Integrated single vendor single buyer model with stochastic demand and variable lead time," International Journal of Production Economics, Elsevier, vol. 92(1), pages 75-80, November.
    3. Glock, Christoph H., 2012. "Lead time reduction strategies in a single-vendor–single-buyer integrated inventory model with lot size-dependent lead times and stochastic demand," International Journal of Production Economics, Elsevier, vol. 136(1), pages 37-44.
    4. Hsiao, Yu-Cheng, 2008. "A note on integrated single vendor single buyer model with stochastic demand and variable lead time," International Journal of Production Economics, Elsevier, vol. 114(1), pages 294-297, July.
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    Cited by:

    1. Barros, Júlio & Cortez, Paulo & Carvalho, M. Sameiro, 2021. "A systematic literature review about dimensioning safety stock under uncertainties and risks in the procurement process," Operations Research Perspectives, Elsevier, vol. 8(C).
    2. Li, Xiaoming, 2020. "Valuing lead-time and its variance in batch-ordering inventory policies," International Journal of Production Economics, Elsevier, vol. 228(C).
    3. Glock, Christoph H. & Grosse, Eric H., 2021. "The impact of controllable production rates on the performance of inventory systems: A systematic review of the literature," European Journal of Operational Research, Elsevier, vol. 288(3), pages 703-720.
    4. Sumon Sarkar & Sunil Tiwari & B. C. Giri, 2022. "Impact of uncertain demand and lead-time reduction on two-echelon supply chain," Annals of Operations Research, Springer, vol. 315(2), pages 2027-2055, August.
    5. Sumon Sarkar & Bibhas C. Giri, 2022. "Safety stock management in a supply chain model with waiting time and price discount dependent backlogging rate in stochastic environment," Operational Research, Springer, vol. 22(2), pages 917-946, April.
    6. Tiwari, Sunil & Kazemi, Nima & Modak, Nikunja Mohan & Cárdenas-Barrón, Leopoldo Eduardo & Sarkar, Sumon, 2020. "The effect of human errors on an integrated stochastic supply chain model with setup cost reduction and backorder price discount," International Journal of Production Economics, Elsevier, vol. 226(C).

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