A single-vendor multi-buyer integrated model with controllable lead time and quality improvement through reduction in defective items

Bibhas Chandra Giri

21 citations0/0 files storedInternational Journal of Systems Science Operations & Logistics

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Supply Chain and Inventory Management Quality and Supply Management Sustainable Supply Chain Management

Abstract

This paper presents a single-vendor multi-buyer integrated inventory model with an imperfect production system of the vendor. The expected demand of each buyer is assumed to be dependent on selling price while lead-time demand of each buyer is assumed to be normally distributed. Further, each buyer's lead time can be reduced at an added crash cost. We extend the model by assuming that the vendor invests money in order to improve the quality of the product and reduce the percentage of defective items. The objective is to determine the optimal values of the decision variables involved so that the average total profit of the system is maximised. We relax the assumption of normality to treat the model with distribution-free approach, where only the mean and standard deviation of lead-time demand are known. Optimal results are obtained for a numerical example and effects of the key parameters are included to illustrate the results of the proposed model.

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References

1994Optimal Dynamic Pricing of Inventories with Stochastic Demand over Finite Horizons 1986Optimal Lot Sizing, Process Quality Improvement and Setup Cost Reduction 1986Economic Production Cycles with Imperfect Production Processes 1986A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR 1977An integrated inventory model for a single supplier-single customer problem 1993The Distribution Free Newsboy Problem: Review and Extensions 1988“A JOINT ECONOMIC‐LOT‐SIZE MODEL FOR PURCHASER AND VENDOR”: A COMMENT*1995A one-vendor multi-buyer integrated inventory model

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2021A single-manufacturer multi-retailer integrated inventory model for items with imperfect quality, price sensitive demand and planned back orders 2020Optimizing an Imperfect Production Model with Varying Setup Cost, Price Discount, and Lead Time Under Fuzzy Demand 2018A vendor–buyer integrated inventory system with variable lead time and uncertain market demand

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