Shared information in a serial inventory system Online publication date: Tue, 30-Sep-2014
by Nima Yazdan Shenas, Abdolhamid Eshraghniaye Jahromi, Kourosh Eshghi
International Journal of Advanced Operations Management (IJAOM), Vol. 3, No. 2, 2011
Abstract: In this study, a supply chain model consisting of a single product, one supplier and one retailer is considered. Transportation times are constant and demands at the retailer are assumed to be generated by a stationary Poisson process. Demands not covered immediately from inventory are backordered. The retailer carries inventory and replenishes stock according to a (Q, R) policy. The supplier has online information about the demand at the retailer and uses this information to replenish its stock. The order size at the supplier is a multiple integer to the retailer's order size. Considering order costs for the retailer and the supplier, we derive the exact cost function for this inventory system. Then, using a search method, the optimal solution for the exact value of the expected system costs is found. Furthermore, for utilising information in the supplier's decision making, we resort to solve several numerical examples.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Advanced Operations Management (IJAOM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com