-
Computers & Operations Research 01/2013; · 1.72 Impact Factor
-
[show abstract]
[hide abstract]
ABSTRACT: This article develops an inventory model for exponentially deteriorating items under conditions of permissible delay in payments. Unlike the existing related models, we assume that the items are replenished at a finite rate and the demand rate of the items is dependent on the current inventory level. The objective is to determine the optimal replenishment policies in order to maximise the system's average profit per unit of time. A simple method is shown for finding the optimal solution of the model based on the derived properties of the objective function. In addition, we deduce some previously published results as the special cases of the model. Finally, numerical examples are used to illustrate the proposed model. Some managerial insights are also inferred from the sensitive analysis of model parameters.
International Journal of Systems Science. 06/2012; 43(6):1039-1053.
-
Computers & Industrial Engineering. 01/2011; 61:1053-1071.
-
Int. J. Systems Science. 01/2009; 40:33-44.
-
Yong-Wu Zhou
[show abstract]
[hide abstract]
ABSTRACT: This paper studies the problem of how to coordinate a one-supplier, multi-retailer supply chain by requiring retailers to adopt the unified number of annual orders proposed by the supplier. The paper presents two coordination models: one considering a small number of retailers; the other considering a large number of retailers. In the proposed models, the supplier views all retailers or some selected retailers (if more beneficial) in the supply chain as one group, then offers a price discount to entice the retailers in this group placing their orders only with the specific number of annual orders. A heuristic is developed for each model to let the supplier know which retailers will be selected to implement the common number of annual orders, and how to determine the corresponding optimal number of annual replenishments and price discount. By using a numerical study, we evaluate the benefit of the proposed coordination strategy.
International Journal of Production Economics 01/2009; 117(1):162-173. · 1.76 Impact Factor
-
[show abstract]
[hide abstract]
ABSTRACT: In this paper, we consider coordination issues of a distribution system composed of a manufacturer and a retailer. The manufacturer offers a single product to the retailer and the demand for the product at the retailer's end is stock dependent. We focus on three aspects of the resulting supply chain. First, we discuss the manufacturer-Stackelberg game structure to determine how the manufacturer sets the wholesale price of the product and how the retailer in turn determines the order quantity. We assume that both the parties share relevant cost information. Then we develop a simple profit-sharing mechanism that would ultimately achieve perfect channel coordination. Finally, the manufacturer is provided with a quantity discount scheme to induce the retailer to increase the order quantity so as to maximize the manufacturer's profit. We show that this discount scheme also achieves the perfect coordination of the whole channel. Numerical examples are used to illustrate the models.
International Journal of Production Economics 01/2008; · 1.76 Impact Factor
