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2013 (Vol. 5, Issue: 04)
Article Information:

Mathematical Modeling and Algebraic Technique for Resolving a Single-Producer Multi-Retailer Integrated Inventory System with Scrap

Yuan-Shyi Peter Chiu, Chien-Hua Lee, Nong Pan, Singa Wang Chiu
Corresponding Author:  Singa Wang Chiu 

Key words:  Algebraic approach, inventory, multiple retailers, multiple shipments, production lot size, scrap, supply chains
Vol. 5 , (04): 1413-1419
Submitted Accepted Published
July 13, 2012 August 15, 2012 February 01, 2013
Abstract:

This study uses mathematical modeling along with an algebraic technique to resolve the production-distribution policy for a single-producer multi-retailer integrated inventory system with scrap in production. We assume that a product is manufactured through an imperfect production process where all nonconforming items will be picked up and scrapped in each production cycle. After the entire lot is quality assured, multiple shipments will be delivered synchronously to m different retailers in each cycle. The objective is to determine the optimal replenishment lot size and optimal number of shipments that minimizes total expected costs for such a specific supply chains system. Conventional method is by the use of differential calculus on system cost function to derive the optimal policy (Chiu et al al., 2012c), whereas the proposed algebraic approach is a straightforward method that enables practitioners who may not have sufficient knowledge of calculus to understand and manage more effectively the real-life systems.
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  Cite this Reference:
Yuan-Shyi Peter Chiu, Chien-Hua Lee, Nong Pan, Singa Wang Chiu, 2013. Mathematical Modeling and Algebraic Technique for Resolving a Single-Producer Multi-Retailer Integrated Inventory System with Scrap.  Research Journal of Applied Sciences, Engineering and Technology, 5(04): 1413-1419.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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