The single-vendor single-buyer integrated production-inventory model with a generalised policy

Article Abstract:

The single-vendor single-buyer integrated production-inventory model was utilized to demonstrate the efficiency of a more general class of shipment policy to produce lower cost solutions. A general type of policy for single-vendor multi-buyer problem can be utilized to deal with successive shipments with production batches that increase by a factor that is equal to the production rate. However, the generalized policy was not optimal based on analysis utilizing the single-vendor single-buyer integrated production-inventory model.

Operations Research, Management science, Industrial productivity

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Stock replenishment policies for a stochastic exponentially-declining demand process

Article Abstract:

A model was formulated to guide the determination of the amount of replenishment stocks to be manufactured for a shrinking market. Such a problem is encountered in the production of spare parts for products that are no longer being manufactured. Excess production of replacement parts may result in financial loss if not all of them are purchased. On the other hand, a very small production output may underestimate the demand and lead to additional costs stemming from manufacturing subsequent batches.

Production Planning & Control, Production management, Production control, Production planning, Demand (Economics), Spare parts

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Inventory control with indivisible units of stock transfer

Article Abstract:

A study proposes a control policy in maintaining inventory levels, which in turn reduces the cost per unit time in transferring stocks.

United Kingdom, Commodity & service prices, Management dynamics, Analysis, Management, Prices and rates, Company business management, Stock transfer, Company pricing policy

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