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Optimal integrated inventory model with lost sale and backordering

Haji, A ; Sharif University of Technology

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  1. Type of Document: Article
  2. Abstract:
  3. Rapid market changes, explosion of product varieties and short life cycleshave increased competition in today's global markets. It is obvious that intoday's competitive markets, collaboration between the vendor and the buyer isnecessary to reduce the joint inventory cost and the response time of thevendor-buyer system. Joint Economic Lot sizing Problem has been extended in manydifferent directions. Shortage is not allowed in the most of the previousresearches. A few of them considered shortage backordering as a result ofimperfect quality. The purpose of this paper is to recast the Joint economic lotsizing model to be more relevant to current situations, where lost sales and/orbackorders are more probable and could be cost efficient. © 2009 IEEE
  4. Keywords:
  5. Joint economic lot sizing problem ; Backordering ; Buyer systems ; Competitive markets ; Cost-efficient ; Current situation ; Global market ; Integrated inventory model ; Inventory costs ; Lost sale ; Lot sizing ; Lot sizing problems ; Lot-sizing models ; Market changes ; Optimal inventory model ; Product variety ; Response time ; Vendor-buyer integration ; Industrial engineering ; International trade ; Inventory control ; Optimization ; Sales
  6. Source: 2009 International Conference on Computers and Industrial Engineering, CIE 2009, 6 July 2009 through 9 July 2009, Troyes ; 2009 , Pages 825-830 ; 9781424441365 (ISBN)
  7. URL: http://ieeexplore.ieee.org/document/5223510