Determining optimal order splitting and reorder level for N-supplier inventory systems |
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| Institution: | 166121. Infrastructure Planning and Management Program, Asian Institute of Technology, P.O. Box 2754, Bangkok, Thailand;1. Department of Chemistry, M. V. Lomonosov Moscow State University, 119991 Moscow, Russian Federation;2. Institute of Physiologically Active Compounds, Russian Academy of Sciences, 142432 Chernogolovka, Moscow Region, Russian Federation;1. Department of Industrial Engineering, South Tehran Branch, Islamic Azad University, Tehran, Iran;2. Amirkabir University of Technology, No. 424, Hafez Avenue, Tehran, Iran;1. Department of Mechanical & Industrial Engineering, College of Engineering, Qatar University, P.O. Box 2713, Doha, Qatar;2. Department of Industrial Engineering and Business Information Systems, Faculty of Behavioural, Management and Social sciences, University of Twente, P.O. Box 217, 7500 AE Enschede, The Netherlands |
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| Abstract: | This paper considers multiple-supplier single-item inventory systems, where the item acquisition lead times of suppliers and demand arrival are random, and backorder is allowed. The acquisition takes place when the inventory level depletes to a reorder level, and the order is split among multiple suppliers. The acquisition lead times may have different distributions, the unit purchasing prices from suppliers may be different, and thus the order quantities for different suppliers may be different. The problem is to determine the reorder level and order quantity for each supplier so that the expected total cost per unit time, consisting of the fixed ordering cost, procurement cost, inventory holding cost and shortage cost, is minimized. We develop a mathematical model describing the system in detail. We also conduct extensive numerical experiments to analyze the advantages and distinct characteristics of multiple-supplier systems. |
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