Inventory replenishment model: lot sizing versus just-in-time delivery |
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Authors: | Chung-Yee Lee |
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Affiliation: | Department of Industrial Engineering and Engineering Management, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong |
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Abstract: | Motivated by a practical industrial problem where a manufacturer stipulates a minimum order from each buyer but where a local dealer promises the buyer a just-in-time delivery with a slightly higher unit cost, this paper uses a dynamic lot-sizing model with a stepwise cargo cost function and a minimum order amount constraint to help the buyer select the supplier with minimum total cost. |
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Keywords: | Lot sizing Just-in-time Inventory replenishment |
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