An integrated single-vendor single-buyer inventory system with shortage derived algebraically

In previous modellings of the integrated vendor-buyer system for the shortage is the not-allowed case, a new approach to find the buyer's economic order quantity (EOQ ) and the vendor's optimal number of deliveries, using some slight algebraic developments, appeared. This paper extends the...

Full description

Saved in:
Bibliographic Details
Published inProduction planning & control Vol. 14; no. 6; pp. 555 - 561
Main Authors Wu, Kun-Shan, Ouyang, Liang-Yuh
Format Journal Article
LanguageEnglish
Published Taylor & Francis Group 01.09.2003
Subjects
integrated inventory system
shortage
single-vendor single-buyer
Online AccessGet full text

Cover

More Information
Summary:In previous modellings of the integrated vendor-buyer system for the shortage is the not-allowed case, a new approach to find the buyer's economic order quantity (EOQ ) and the vendor's optimal number of deliveries, using some slight algebraic developments, appeared. This paper extends the mentioned algebraic approach to the integrated vendor-buyer system for the shortage case. The theoretical result obtained here reveals that the integrated total cost with shortage is lower than the integrated total cost without shortage.
ISSN:0953-7287
1366-5871
DOI:10.1080/09537280310001613722