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Supply Chain Model with Stochastic Lead Time, Trade-Credit Financing, and Transportation Discounts

Title
Supply Chain Model with Stochastic Lead Time, Trade-Credit Financing, and Transportation Discounts
Author
Sarkar, Biswajit
Keywords
INTEGRATED INVENTORY MODEL; ORDERING COST REDUCTION; IMPERFECT PRODUCTION PROCESS; PERMISSIBLE DELAY; SETUP COST; QUALITY IMPROVEMENT; EOQ MODEL; PAYMENTS; VENDOR; POLICY
Issue Date
2017-03
Publisher
HINDAWI PUBLISHING CORP
Citation
MATHEMATICAL PROBLEMS IN ENGINEERING, V. 2017, Article ID 6465912
Abstract
This model extends a two-echelon supply chain model by considering the trade-credit policy, transportations discount to make a coordination mechanism between transportation discounts, trade-credit financing, number of shipments, quality improvement of products, and reduced setup cost in such a way that the total cost of the whole system can be reduced, where the supplier offers trade-credit-period to the buyer. For buyer, the backorder rate is considered as variable. There are two investments to reduce setup cost and to improve quality of products. The model assumes lead time-dependent backorder rate, where the lead time is stochastic in nature. By using the trade-credit policy, the model gives how the credit-period would be determined to achieve the win-win outcome. An iterative algorithm is designed to obtain the global optimum results. Numerical example and sensitivity analysis are given to illustrate the model.
URI
https://www.hindawi.com/journals/mpe/2017/6465912/https://repository.hanyang.ac.kr/handle/20.500.11754/71820
ISSN
1024-123X; 1563-5147
DOI
10.1155/2017/6465912
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > INDUSTRIAL AND MANAGEMENT ENGINEERING(산업경영공학과) > Articles
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