A one-vendor multi-buyer integrated inventory model: a comment

Article Abstract:

S.K. Goyal's 1988 joint total relevant cost model for a single vendor-single buyer production inventory system assumes that the vendor's lot size is an integer multiple of the buyer's order size, and that the vendor can supply the buyer only after completing the whole lot size. L. Lu's 1995 model proposed a solution for an optimal policy based on the assumption that the vendor can sell to the buyer even without completeting the whole lot size. An approach to obtain a lower total joint relevant total costs of the single vendor-single buyer production inventory system is presented.

Operations research, Management science, Models

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A production lot size inventory model for deteriorating items and arbitrary production and demand rates

Article Abstract:

An optimal method for determining the optimal replenishment schedule for the production lot size model with deteriorating items is proposed. The method, based on the alternative method proposed by Raafat, Wolfe and Eldin (1991) considers varying demand and production rates where backlogging is permissible. A numerical example based on exponential demand and production rates shows that the method leads to a minimum.

Production management

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• Abstracts: On a finite horizon production lot size inventory model for deteriorating items: an optimal solution. An impulse control problem of a production model with interruptions to follow stochastic demand

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