Joint Inventory Replenishments with Group Discounts Based on Invoice Value

Article Abstract:

The study focuses attention on a grouping procedure for the purpose of joint inventory replenishments from a single supplier. The grouping procedure exploits the group discounts available on the total purchase value of a group of index and the economies of scale of order placing costs. In particular it is shown that the optimal groups are formed such that the annual (dollar) usage values of the items do not decrease (may increase or stay the same), from the first to the last group. This is similar in concept to the well-known ABC classification of inventory items. The grouping problem is a 'shortest-path' using the above property. (Reprinted by Permission of Publisher.)

Cost control, Production, Inventory Control, Cost Reduction, Discount

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Balancing mixed model lines with in-process inventories

Article Abstract:

Problems associated with combining assembly line balancing with lot sizing in a manufacturing environment where several products are assembled, also known as mixed model line balancing, are researched using multi-echelon production and inventory systems applications. The optimal number of workstations to perform the assemblies described, the tasks to be assigned to each workstation and the ideal production and inventory cycle times are defined, with algorithms developed to minimize production, labor, carrying and set-up costs. The algorithms developed are capable of designing effective mixed model lines of assembly.

Scheduling (Management), Production control

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Joint inventory replenishments with group discounts based on invoice value

Article Abstract:

The grouping technique is used to conduct effective joint inventory replenishments provided by one supplier. The grouping technique utilizes the group discounts available with the total purchase value of the index series and economies of scale or order for cost placements. Annual usage item values do not decline between groups.

Economic aspects, Materials management, Economic lot size, Order picking systems, Order picking, Stockroom keeping, Stockrooms

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