An Integrated Inventory Optimization for Deteriorating Products under Multi - Echelon Just In Time (JIT)
Journal Title: International Journal of Modern Engineering Research (IJMER) - Year 2013, Vol 3, Issue 6
Abstract
This paper deals with the deterioration inventory model which focuses on optimally coordinating Just In Time (JIT) policy among all the partners with various issues in the supply chain in order to minimize the joint total cost. The total cost for an integrated inventory model includes all costs from multiple suppliers, one producer and multiple buyers and the individual’s total cost consist of ordering cost, holding cost, order receiving cost setup cost and deterioration cost.A multiple buyers –multiple suppliers coordination model is developed to facilitate the frequent deliveries in a small lot sizes in a manufacturing supply chain for the deteriorating item. The model based on the integrated total relevant costs for the multiple buyers, a single producer and the multiple suppliers, determines optimal order quantity and number of deliveries over a finite planning horizon in a relatively simple Just In Time scenario
Authors and Affiliations
Raj Mohan R.
Keywords
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