Note. An Acquisition Policy for a Single Item Multi-Supplier System

Meir J. Rosenblatt · Yale T. Herer · Ilan Hefter

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

Abstract

In this paper we consider the problem of developing an acquisition policy. Specifically, given a set of potential (qualified) suppliers, from whom should the firm buy the product, in what quantities, and how often? We provide properties of the optimal solution and relate them to the approach of using a single source as advocated by JIT. The solution procedure provides the periodic order quantity from each supplier; the order size; and the firm cycle time as well as how many times per cycle we should order from each supplier. We show that the maximum error of our solution can be made as small as desired.

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References

1991Vendor selection criteria and methods 1988Just-In-Time Exchange Relationships in Industrial Markets 198598%-Effective Integer-Ratio Lot-Sizing for One-Warehouse Multi-Retailer Systems 1983An Analytical Approach to Supplier Selection 1986An Approach to Vendor Performance Evaluation 1989Allocation of Order Quantity Among Suppliers 1987Supplier Selection Strategies 1988Cost‐Based Supplier Performance Evaluation

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