NDLI: An integrated production-inventory model for the singlevendor two-buyer problem with partial backorder, stochastic demand, and service level constraints

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An integrated production-inventory model for the singlevendor two-buyer problem with partial backorder, stochastic demand, and service level constraints

Content Provider	Scilit
Author	Sutanto Kurdhi, Nughthoh Arfawi Diwiryo, Toray Adi
Copyright Year	2016
Description	Journal: Journal of Physics: Conference Series This paper presents an integrated single-vendor two-buyer production-inventory model with stochastic demand and service level constraints. Shortage is permitted in the model, and partial backordered partial lost sale. The lead time demand is assumed follows a normal distribution and the lead time can be reduced by adding crashing cost. The lead time and ordering cost reductions are interdependent with logaritmic function relationship. A service level constraint policy corresponding to each buyer is considered in the model in order to limit the level of inventory shortages. The purpose of this research is to minimize joint total cost inventory model by finding the optimal order quantity, safety stock, lead time, and the number of lots delivered in one production run. The optimal production-inventory policy gained by the Lagrange method is shaped to account for the service level restrictions. Finally, a numerical example and effects of the key parameters are performed to illustrate the results of the proposed model.
Related Links	http://iopscience.iop.org/article/10.1088/1742-6596/693/1/012008/pdf
ISSN	17426588
e-ISSN	17426596
DOI	10.1088/1742-6596/693/1/012008
Journal	Journal of Physics: Conference Series
Volume Number	693
Language	English
Publisher	IOP Publishing
Publisher Date	2016-02-01
Access Restriction	Open
Subject Keyword	Journal: Journal of Physics: Conference Series Industrial Engineering Operations Research and Management Science Model with Stochastic Inventory Model Lead Time Service Level Cost Reductions Partial Backorder Production Inventory
Content Type	Text
Resource Type	Article
Subject	Physics and Astronomy

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