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Optimal Replenishment Policy For An Integrated Supplier–Buyer Deteriorating Inventory Model Considering Multiple Jit Delivery And Other Cost Functions

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  • CHUN-JEN CHUNG

    (Department of Industrial Engineering, Chung Yuan Christian University, Chungli 32023, Taiwan, ROC)

  • HUI-MING WEE

    (Department of Industrial Engineering, Chung Yuan Christian University, Chungli 32023, Taiwan, ROC)

Abstract

This study develops an integrated deteriorating inventory policy for a single-buyer–single-supplier model with multiple JIT deliveries considering the transportation cost, inspection cost and the cost of less flexibility. Distinct from the former concept of average inventory level, our paper proposes a significantly different approach to deal with the first production batch and uses a revised method to approximate the relationship between the supplier's production time and the storage time. We provide a rigorous analysis to derive the number of inspection and deliveries, the optimal cycle time of deliveries, and the delivery size for the replenishment policy of the integrated buyer–supplier inventory deteriorating model. It is shown that the unit inspection cost is one of the critical factors affecting the deteriorating inventory model. A numerical example is presented to illustrate the theory.

Suggested Citation

  • Chun-Jen Chung & Hui-Ming Wee, 2007. "Optimal Replenishment Policy For An Integrated Supplier–Buyer Deteriorating Inventory Model Considering Multiple Jit Delivery And Other Cost Functions," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 24(01), pages 125-145.
    • Handle: RePEc:wsi:apjorx:v:24:y:2007:i:01:n:s0217595907001127
    DOI: 10.1142/S0217595907001127
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    References listed on IDEAS

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    1. L·szlÛ PÛlos & Michael T. Hannan, 2002. "Foundations of a theory of social forms," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(1), pages 85-115, February.
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    Cited by:

    1. Huang, Chao-Kuei & Tsai, Deng-Maw & Wu, Ji-Cheng & Chung, Kun-Jen, 2010. "An optimal integrated vendor-buyer inventory policy under conditions of order-processing time reduction and permissible delay in payments," International Journal of Production Economics, Elsevier, vol. 128(1), pages 445-451, November.
    2. Pahl, Julia & Voß, Stefan, 2014. "Integrating deterioration and lifetime constraints in production and supply chain planning: A survey," European Journal of Operational Research, Elsevier, vol. 238(3), pages 654-674.

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