A single-vendor and multiple-buyers production–inventory policy for a deteriorating item

A single-vendor and multiple-buyers production–inventory policy for a deteriorating item

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Article ID: iaor20031757
Country: Netherlands
Volume: 143
Issue: 3
Start Page Number: 570
End Page Number: 581
Publication Date: Dec 2002
Journal: European Journal of Operational Research
Authors: ,
Keywords: programming: mathematical
Abstract:

This study develops a single-vendor, multi-buyers production–inventory policy for a deteriorating item with a constant production and demand rate. A mathematical model incorporating the costs of both the vendor and the buyers is developed. It can be shown that the integrated policy results in an impressive cost reduction when it is compared with the independent decisions made by the vendor and the buyers.

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