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A serial supply chain of newsvendor problem with safety stocks under complete and partial information sharing

Title
A serial supply chain of newsvendor problem with safety stocks under complete and partial information sharing
Author
정인재
Keywords
Supply chain; Augmented Lagrangian function; Newsvendor problem
Issue Date
2012-01
Publisher
Elsevier Science B.V., Amsterdam.
Citation
International Journal of Production Economics, Vol.135, No.1 [2012], p412-419
Abstract
We consider a supply chain where multiple members are serially connected. The decision is to determine the ordering quantity of a member to the next upstream member in the supply chain. The basic cost model is similar to the newsvendor problem with additional consideration to safety stock. This paper presents optimal approaches for coordination of the supply chain under both complete and partial information sharing in order to maximize the total expected benefit. For complete information sharing we develop an optimal coordination algorithm. For partial information sharing, we propose an optimal coordination algorithm based on the Alternating Direction Method and the Diagonal Quadratic Approximation Method. A numerical example is discussed to show the optimal convergence of ordering quantities and discuss the properties of the proposed algorithms.
URI
http://www.sciencedirect.com/science/article/pii/S0925527311003562?via%3Dihubhttp://hdl.handle.net/20.500.11754/67623
ISSN
0925-5273
DOI
10.1016/j.ijpe.2011.08.015
Appears in Collections:
COLLEGE OF ENGINEERING[S](공과대학) > INDUSTRIAL ENGINEERING(산업공학과) > Articles
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