Integrated inventory model for single vendor-single buyer with probabilistic demand
type: Item
instance of: scholarly article
title: Integrated inventory model for single vendor-single buyer with probabilistic demand
zbMATH Open document ID: 1230.90016
DOI: 10.1504/IJOR.2011.040695
author: Wakhid Ahmad Jauhari
author: I. Nyoman Pujawan
author: Stefanus Eko Wiratno
author: Yusuf Priyandari
published in: International Journal of Operational Research
publication date: 2012-01-18T00:00:00Z
review text: Summary: We consider a single vendor-single buyer integrated inventory model with probabilistic demand and equal delivery lot size. The model contributes to the current literature by relaxing the deterministic demand assumption which has been used for almost all integrated inventory models. The objective is to minimise expected total costs incurred by the vendor and the buyer. We develop effective iterative procedures for finding the optimal solution. Numerical examples are used to illustrate the benefit of integration. A sensitivity analysis is performed to explore the effect of key parameters on delivery lot size, safety factor, production lot size factor and the expected total cost.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 5999218
zbMATH Keywords: inventory modelling
zbMATH Keywords: probabilistic demand
zbMATH Keywords: safety stock
zbMATH Keywords: supply chain
MaRDI profile type: Publication
full work available at URL: ijor.2011.040695
OpenAlex ID: W2112003926
description: scientific article; zbMATH DE number 5999218