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This paper model a vendor-buyer integrated production-inventory system by considering issues of imperfect quality of the item, trade credit finance, setup cost reduction and shortages including partial backlogging and lost sale. The vendor produces a lot in one production setup and sends to the buyer in multiple shipments to fulfill customers’ demand. Due to imperfect production and/or unsafe transportation, the received lot of the buyer contains the imperfect quality of the item, which is detected through the screening process, and is sold at a discounted price in a single batch at the end of the process. To accelerate bulk purchasing, the vendor offers a trade credit period to the buyer to settle the amount. In this regard, we develop a methodology to account the opportunity cost and opportunity gain. Depending upon the screening period μ, trade credit period M, shortage beginning time t and the buyer’s scheduling period T, we consider four cases: (1) M < μ < t < T, (2) μ < M < t < T, (3) μ < t < M < T and (4) μ < t < T < M. The proposed integrated model is testified with numerical experiment and sensitivity analysis by changing the value of key parameters.
Mohanty, Dipana Jyoti 1 ; Kumar, Ravi Shankar 1 ; Goswami, Adrijit 1
@article{RO_2018__52_4-5_1277_0,
author = {Mohanty, Dipana Jyoti and Kumar, Ravi Shankar and Goswami, Adrijit},
title = {Vendor-buyer integrated production-inventory system for imperfect quality item under trade credit finance and variable setup cost},
journal = {RAIRO - Operations Research - Recherche Op\'erationnelle},
pages = {1277--1293},
publisher = {EDP-Sciences},
volume = {52},
number = {4-5},
year = {2018},
doi = {10.1051/ro/2018014},
zbl = {1411.90035},
mrnumber = {3884158},
language = {en},
url = {http://geodesic.mathdoc.fr/articles/10.1051/ro/2018014/}
}
TY - JOUR AU - Mohanty, Dipana Jyoti AU - Kumar, Ravi Shankar AU - Goswami, Adrijit TI - Vendor-buyer integrated production-inventory system for imperfect quality item under trade credit finance and variable setup cost JO - RAIRO - Operations Research - Recherche Opérationnelle PY - 2018 SP - 1277 EP - 1293 VL - 52 IS - 4-5 PB - EDP-Sciences UR - http://geodesic.mathdoc.fr/articles/10.1051/ro/2018014/ DO - 10.1051/ro/2018014 LA - en ID - RO_2018__52_4-5_1277_0 ER -
%0 Journal Article %A Mohanty, Dipana Jyoti %A Kumar, Ravi Shankar %A Goswami, Adrijit %T Vendor-buyer integrated production-inventory system for imperfect quality item under trade credit finance and variable setup cost %J RAIRO - Operations Research - Recherche Opérationnelle %D 2018 %P 1277-1293 %V 52 %N 4-5 %I EDP-Sciences %U http://geodesic.mathdoc.fr/articles/10.1051/ro/2018014/ %R 10.1051/ro/2018014 %G en %F RO_2018__52_4-5_1277_0
Mohanty, Dipana Jyoti; Kumar, Ravi Shankar; Goswami, Adrijit. Vendor-buyer integrated production-inventory system for imperfect quality item under trade credit finance and variable setup cost. RAIRO - Operations Research - Recherche Opérationnelle, Tome 52 (2018) no. 4-5, pp. 1277-1293. doi: 10.1051/ro/2018014
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