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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
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    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.

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    Bibliographic Info

    Article provided by Elsevier in its journal Transportation Research Part E: Logistics and Transportation Review.

    Volume (Year): 46 (2010)
    Issue (Month): 6 (November)
    Pages: 896-912

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    Handle: RePEc:eee:transe:v:46:y:2010:i:6:p:896-912

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    Keywords: Production-inventory Lot streaming Inspection The perfect squares method;

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