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An Integrated Inventory Model for Vendor and Buyer

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  • Zhiguang Zhang

Abstract

An integrated inventory model for vendor and buyer is presented in this paper. Based on the integrated expected total relevant costs of both buyer and vendor, we obtain the optimal values of reorder point, order quantity, and number of shipments. Numerical example shows the model is effective, and it is also used to analyze the savings in joint total cost over individually derived policies.

Suggested Citation

  • Zhiguang Zhang, 2010. "An Integrated Inventory Model for Vendor and Buyer," Modern Applied Science, Canadian Center of Science and Education, vol. 4(7), pages 197-197, July.
    • Handle: RePEc:ibn:masjnl:v:4:y:2010:i:7:p:197
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    References listed on IDEAS

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    1. Goetschalckx, Marc & Vidal, Carlos J. & Dogan, Koray, 2002. "Modeling and design of global logistics systems: A review of integrated strategic and tactical models and design algorithms," European Journal of Operational Research, Elsevier, vol. 143(1), pages 1-18, November.
    2. Stadtler, Hartmut, 2005. "Supply chain management and advanced planning--basics, overview and challenges," European Journal of Operational Research, Elsevier, vol. 163(3), pages 575-588, June.
    3. Ben-Daya, M. & Darwish, M. & Ertogral, K., 2008. "The joint economic lot sizing problem: Review and extensions," European Journal of Operational Research, Elsevier, vol. 185(2), pages 726-742, March.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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