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A generalized algebraic model for optimizing inventory decisions in a centralized or decentralized multi-stage multi-firm supply chain

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  • Francis Leung, Kit Nam

Abstract

First of all, a number of integrated models with/without lot streaming under the integer multiplier coordination mechanism is generalized by allowing lot streaming and three types of inspection for some/all upstream firms. Secondly, the optimal solutions to the three- and four-stage models are individually derived, both using the perfect squares method, which is a simple algebraic approach so that ordinary readers unfamiliar with differential calculus can easily understand how to obtain the optimal solution procedures. Thirdly, optimal expressions for some well-known models are deduced. Fourthly, expressions for sharing the coordination benefits based on Goyal's (1976) scheme are derived, and a further sharing scheme is introduced. Fifthly, two numerical examples for illustrative purposes are presented. Finally, some future research works involving extension or modification of the generalized model are suggested.

Suggested Citation

  • Francis Leung, Kit Nam, 2010. "A generalized algebraic model for optimizing inventory decisions in a centralized or decentralized multi-stage multi-firm supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 46(6), pages 896-912, November.
    • Handle: RePEc:eee:transe:v:46:y:2010:i:6:p:896-912
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    Citations

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    Cited by:

    1. Duan, Qinglin & Warren Liao, T., 2013. "Optimization of replenishment policies for decentralized and centralized capacitated supply chains under various demands," International Journal of Production Economics, Elsevier, vol. 142(1), pages 194-204.
    2. Ata Allah Taleizadeh & Masoumeh Sadat Babaei & Seyed Taghi Akhavan Niaki & Mahsa Noori-daryan, 2020. "Bundle pricing and inventory decisions on complementary products," Operational Research, Springer, vol. 20(2), pages 517-541, June.
    3. Beck, Fabian G. & Glock, Christoph H. & Kim, Taebok, 2017. "Coordination of a production network with a single buyer and multiple vendors with geometrically increasing batch shipments," International Journal of Production Economics, Elsevier, vol. 193(C), pages 633-646.
    4. Marjia Haque & Sanjoy Kumar Paul & Ruhul Sarker & Daryl Essam, 2022. "A combined approach for modeling multi-echelon multi-period decentralized supply chain," Annals of Operations Research, Springer, vol. 315(2), pages 1665-1702, August.
    5. 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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