An optimal ordering and issuing policy for a two-stage inventory system for perishable products

Article Abstract:

A two-echelon model depicting the distribution system of perishable products was analyzed to develop ordering and issuing policies for controlling finite-life-time fresh-meat-carcass inventories in supermarkets. Analysis of the model for the multi-stage distribution system of fresh meat carcass inventories in supermarkets was analyzed based on an uncomplicated iterative solution for finding locally optimal ordering and issuing policy. Furthermore, analysis of the model indicated the role of different cost factors and salvage values in influencing the behavior of optimal solutions.

Production Planning & Control, Supermarkets, Production control, Delivery of goods, Deliveries (Transportation), Logistics, Perishable goods

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Determining optimal order splitting and reorder level for N-supplier inventory systems

Article Abstract:

A model has been formulated for determining the optimal way of splitting orders among different suppliers. Western companies favor this type of relationship with their suppliers as they believe this ensures high service standards and minimizes loss related to variations in suppliers' lead times. The model also considers the costs incurred from inventory holding of the ordered products, as well as costs arising from shortages immediately prior to deliveries.

Inventory Control, Distribution Channels, Cost Control Techniques, Analysis, Management, Factory orders, Distributors (Commerce), Supply and demand, Cost control

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An optimal (Q, r) policy for a multipart assembly system under stochastic part procurement lead times

Article Abstract:

An EOQ-type prototype is employed for the simultaneous determination of when to order parts and what lot size to generate under random part acquisition lead times. The model should be able to minimize the average total cost per unit. It was found that it is best in several situations for some parts to possess zero or negative reorder points.

Purchasing Management, Purchasing, Planning, Industrial management, Lease or buy decisions

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