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Inventory control model for a supply chain system with multiple types of items and minimum order size requirements

Title
Inventory control model for a supply chain system with multiple types of items and minimum order size requirements
Author
김종수
Keywords
integer programming model; inventory control; minimum order quantity
Issue Date
2018-11
Publisher
WILEY
Citation
INTERNATIONAL TRANSACTIONS IN OPERATIONAL RESEARCH, v. 25, No. 6, Page. 1927-1946
Abstract
This paper considers a replenishment problem for a single buyer who orders multiple types of items from two or more heterogeneous suppliers in order to sell to end customers. The buyer periodically orders each type of item from the suppliers according to a select inventory control policy. Processing the order, each supplier enforces the policy that an order from the buyer must meet a predetermined minimum order quantity (MOQ). Therefore, the buyer must decide how much to order from each supplier considering the current inventory level, demand forecast, and MOQ requirement. The buyer's problem is formulated as an integer programming model and an efficient implementation strategy is suggested to apply the model to real problems. Numerical experiments are performed to test the validity of the proposed model as well as the efficiency of the implementation strategy. The experimental results show that this model combined with the implementation method yields a considerable cost reduction compared to the most efficient policy currently available.
URI
https://onlinelibrary.wiley.com/doi/full/10.1111/itor.12262http://repository.hanyang.ac.kr/handle/20.500.11754/105786
ISSN
0969-6016; 1475-3995
DOI
10.1111/itor.12262
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > INDUSTRIAL AND MANAGEMENT ENGINEERING(산업경영공학과) > Articles
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