A generalized algebraic model for optimizing inventory decisions in a multi-stage complex supply chain
AbstractIn this paper, we deal with more generalized inventory coordination mechanism in an n-stage, multi-customer, non-serial supply chain, where we extend and generalize pervious works that use algebraic methods to optimize this coordinated supply chain. We establish the recursive expressions for this multi-variable optimization problem. These expressions are used for the derivation of the optimal replenishment policy and the development of the solution algorithm. Further, we describe a simple procedure that can help in sharing the coordination cost benefits to induce all stages to adopt the inventory coordination mechanism. We provide a numerical example for illustrative purposes.
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Bibliographic InfoArticle provided by Elsevier in its journal Transportation Research Part E: Logistics and Transportation Review.
Volume (Year): 45 (2009)
Issue (Month): 3 (May)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description
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- Glock, Christoph H., 2012. "The joint economic lot size problem: A review," International Journal of Production Economics, Elsevier, vol. 135(2), pages 671-686.
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