Models of integrated inventory system with stock-dependent demand / Hafizah Zulkipli
This study is proposing two integrated inventory models by considering stockdependent demand. We presented a mathematical model where a vendor procures raw material in single/multiple instalment(s), processes them to make finished products, ships to single/multiple buyer(s) at single/multiple shipme...
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| Format: | Thesis |
| Published: |
2013
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| Subjects: | |
| Online Access: | http://studentsrepo.um.edu.my/4157/1/thesis.pdf http://studentsrepo.um.edu.my/4157/ |
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| Summary: | This study is proposing two integrated inventory models by considering stockdependent demand. We presented a mathematical model where a vendor procures raw material in single/multiple instalment(s), processes them to make finished products, ships to single/multiple buyer(s) at single/multiple shipment(s) and stores them at the warehouse before presents at the display area with single/
multiple transfer(s). The first model operates with a single-vendor and a single-buyer by considering different shipment policies. Two types of shipment policies were considered in the first model: geometric shipment and geometricthen-equal shipment sizes. The optimum joint profits were obtained by using Wolfram Mathematica Version 7. Numerical examples were then presented for
discussion. A numerical sensitivity analysis was conducted to investigate the reaction of the optimal total profit to the changes in the parameters value. The
second model operates with a single-vendor and multiple buyers by considering equal shipment sizes. The total optimum profit and solution procedures were obtained by using Microsoft Excel Premium Solver Version 12.5 which can solve non-linear optimization problems. This procedure was used to analyze some numerical examples in order to examine the model's sensitivity to parameter changes as well. |
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