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Modelling and analysis of inventory replenishment for perishable agricultural products with buyer–seller collaboration

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  • Dongjie Shen
  • K.K. Lai
  • Stephen Leung
  • Liang Liang

Abstract

In this article, we study the inventory replenishment model for perishable agricultural products in a simple two-level supply chain. Collaborative forecasting is introduced into the inventory replenishment decisions to avoid overstocking and understocking of agricultural products, and to maximise profits. We analyse the model with ordering cost, holding cost, shortage cost, deterioration cost and opportunity lost cost of perishable agricultural products. Extensive numerical analysis is carried out to study the performance of the inventory policy. The optimal replenishment policy that minimises the total cost can be obtained from the model. It has demonstrated that the supply chain cost decreases with supplier and retailer's collaborative forecasting.

Suggested Citation

  • Dongjie Shen & K.K. Lai & Stephen Leung & Liang Liang, 2011. "Modelling and analysis of inventory replenishment for perishable agricultural products with buyer–seller collaboration," International Journal of Systems Science, Taylor & Francis Journals, vol. 42(7), pages 1207-1217.
    • Handle: RePEc:taf:tsysxx:v:42:y:2011:i:7:p:1207-1217
    DOI: 10.1080/00207720903494643
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    Cited by:

    1. Yujia Huo & Jiali Wang & Xiangyu Guo & Yang Xu, 2022. "The Collaboration Mechanism of Agricultural Product Supply Chain Dominated by Farmer Cooperatives," Sustainability, MDPI, vol. 14(10), pages 1-21, May.
    2. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    3. Behzadi, Golnar & O’Sullivan, Michael Justin & Olsen, Tava Lennon & Zhang, Abraham, 2018. "Agribusiness supply chain risk management: A review of quantitative decision models," Omega, Elsevier, vol. 79(C), pages 21-42.
    4. Li, Yemei & Shan, Yanfei & Ling, Shuang, 2022. "Research on option pricing and coordination mechanism of festival food supply chain," Socio-Economic Planning Sciences, Elsevier, vol. 81(C).
    5. Zeinab Sazvar & Mohammad Reza Akbari Jokar & Armand Baboli, 2014. "A new order splitting model with stochastic lead times for deterioration items," International Journal of Systems Science, Taylor & Francis Journals, vol. 45(9), pages 1936-1954, September.
    6. Chong Wang & Xu Chen, 2017. "Option pricing and coordination in the fresh produce supply chain with portfolio contracts," Annals of Operations Research, Springer, vol. 248(1), pages 471-491, January.

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