✦ LIBER ✦

Coordinated vs. independent inventory replenishment policies for a vendor and multiple buyers

✍ Scribed by Avijit Banerjee; Jonathan S. Burton

Book ID: 103961858
Publisher: Elsevier Science
Year: 1994
Tongue: English
Weight: 598 KB
Volume: 35
Category: Article
ISSN: 0925-5273
DOI: 10.1016/0925-5273(94)90084-1

No coin nor oath required. For personal study only.

✦ Synopsis

Through a series of simulation experiments

we show that classical lot sizing models do not adequately describe a situation where a single vendor produces and supplies a product to multiple industrial customers, buying in discrete lots. We suggest a common replenishment cycle based, coordinated inventory control model and show that this approach is superior to independent optimization.

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