Coordination-based inventory management for deteriorating items in a two-echelon supply chain with profit sharing

Jonas C.P. Yu · Yu-Siang Lin · Kung‐Jeng Wang

33 citations0/0 files storedInternational Journal of Systems Science

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

Abstract

This study develops a model for inventory management consisting of a two-echelon supply chain (SC) with profit sharing and deteriorating items. The retailer and the supplier act as the leader and follower, in which the supplier faces a huge setup cost and economic order quantity ordering strategy. The market demand is affected by the sale price of the product, and the inventory has a deterioration rate following a Weibull distribution. The retailer executes three profit-sharing mechanisms to motivate the supplier to participate in SC optimisation and to extend the life cycle of the product. A search algorithm is developed to determine the solutions as using the profit-sharing mechanisms. The outcomes from numerical experiments demonstrate the profitability of the proposed model.

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References

1999Inventory management and production planning and scheduling 2017Journal of Industrial Engineering 1973An EOQ Model for Items with Weibull Distribution Deterioration 1963A model for an exponentially decaying inventory 1999Modeling Supply Chain Contracts: A Review 1983Analysis of inventory systems with deteriorating items 1997A replenishment policy for items with a price-dependent demand and a varying rate of deterioration 1991An order-level lot-size inventory model for deteriorating items with finite replenishment rate

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2014Production planning and backup sourcing strategy of a buyer-dominant supply chain with random yield and demand 2021Joint pricing and inventory management for growing items in a supply chain under trade credit 2021Pollution-sensitive integrated production-inventory management for deteriorating items with quality loss and quantity loss with expiration date 2012Optimal inventory replenishment strategy for deteriorating items in a demand-declining market with the retailer’s price manipulation

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