A generalized algebraic model for optimizing inventory decisions in a multi-stage complex supply chain

In this paper, we deal with more generalized inventory coordination mechanism in an n-stage, multi-customer, non-serial supply chain, where we extend and generalize pervious works that use algebraic methods to optimize this coordinated supply chain. We establish the recursive expressions for this mu...

Full description

Saved in:
Bibliographic Details
Published in:Transportation research. Part E, Logistics and transportation review Logistics and transportation review, 2009-05, Vol.45 (3), p.409-418
Main Authors: Seliaman, M.E., Ahmad, Ab Rahman
Format: Article
Language:English
Subjects:
Coordination
Inventory management
Mathematical models
Optimization algorithms
Production-inventory models
Studies
Supply chain integration
Supply chain integration Production-inventory models Without derivatives
Supply chains
Without derivatives
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In this paper, we deal with more generalized inventory coordination mechanism in an n-stage, multi-customer, non-serial supply chain, where we extend and generalize pervious works that use algebraic methods to optimize this coordinated supply chain. We establish the recursive expressions for this multi-variable optimization problem. These expressions are used for the derivation of the optimal replenishment policy and the development of the solution algorithm. Further, we describe a simple procedure that can help in sharing the coordination cost benefits to induce all stages to adopt the inventory coordination mechanism. We provide a numerical example for illustrative purposes.
ISSN:1366-5545
1878-5794
DOI:10.1016/j.tre.2008.09.012