A serial inventory system with supplier selection and order quantity allocation

Abraham Mendoza, Jose Antonio Ventura

Research output: Contribution to conferencePaperpeer-review

Abstract

Given the prevalence of both supplier selection and inventory control problems in supply chain management, this article addresses these problems simultaneously by developing a mathematical model for a serial system. This model determines an optimal inventory policy that coordinates the different stages of the system while properly allocating orders to selected suppliers in Stage 1. A lower bound on the optimal total cost per time unit is obtained and a 98% effective power-of-two inventory policy is derived for the system under consideration. This policy is advantageous since it is simple to compute and yields near optimal solutions.

Original languageEnglish (US)
StatePublished - Jan 1 2010
EventIIE Annual Conference and Expo 2010 - Cancun, Mexico
Duration: Jun 5 2010Jun 9 2010

Other

OtherIIE Annual Conference and Expo 2010
CountryMexico
CityCancun
Period6/5/106/9/10

All Science Journal Classification (ASJC) codes

  • Industrial and Manufacturing Engineering

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