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Effects of Variable Production Rate and Time-Dependent Holding Cost for Complementary Products in Supply Chain Model

Title
Effects of Variable Production Rate and Time-Dependent Holding Cost for Complementary Products in Supply Chain Model
Author
Sarkar, Biswajit
Keywords
IMPERFECT PRODUCTION PROCESS; PRODUCTION-INVENTORY MODEL; INFORMATION ASYMMETRY; DETERIORATION RATE; PRICE-COMPETITION; EOQ MODEL; DEMAND; GOODS; RELIABILITY; DISCOUNTS
Issue Date
2017-11
Publisher
HINDAWI PUBLISHING CORP
Citation
MATHEMATICAL PROBLEMS IN ENGINEERING, v. 2017, Article ID. 2825103
Abstract
Recently, a major trend is going to redesign a production system by controlling or making variable the production rate within some fixed interval to maintain the optimal level. This strategy is more effective when the holding cost is time-dependent as it is interrelated with holding duration of products and rate of production. An effort is made to make a supply chain model (SCM) to show the joint effect of variable production rate and time-varying holding cost for specific type of complementary products, where those products are made by two different manufacturers and a common retailer makes them bundle and sells bundles to end customers. Demand of each product is specified by stochastic reservation prices with a known potential market size. Those players of the SCM are considered with unequal power. Stackelberg game approach is employed to obtain global optimum solution of the model. An illustrative numerical example, graphical representation, and managerial insights are given to illustrate the model. Results prove that variable production rate and time-dependent holding cost save more than existing literature.
URI
https://www.hindawi.com/journals/mpe/2017/2825103/abs/https://repository.hanyang.ac.kr/handle/20.500.11754/72616
ISSN
1024-123X; 1563-5147
DOI
10.1155/2017/2825103
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > INDUSTRIAL AND MANAGEMENT ENGINEERING(산업경영공학과) > Articles
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