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Showing 2 results for Vendor
An Integrated Production-Inventory Model with Backorder and Lot for Lot Policy
Mona Ahmadi Rad , Farid Khoshalhan,
Volume 22, Issue 2 (6-2011)
Abstract

 

  inventory model,

  backorder

  buyer ,

  vendor,

  lot for lot policy

In this paper, an inventory model for two-stage supply chain is investigated. A supply chain with single vendor and single buyer is considered. We assume that shortage as a backorder is allowed for the buyer and the vendor makes the production set up every time the buyer places an order and supplies on a lot for lot basis. With these assumptions, the joint economic lot size model is introduced and the minimum joint total relevant cost and optimal order quantity and optimal shortage quantity are obtained for both the buyer and the vendor at the same time. Numerical example is given and then Sensitivity analysis is performed to study the effects of changes in the parameters on optimum joint total relevant cost and optimal order quantity and optimal shortage quantity .


An Aggregated Newsvendor Model for Multi-Item Perishable Inventories with Uncertain Demand
Dwi Kurniawan, Aghnia Nazhiifah Ulhaq, Aditya Fadhilah Althofian, Rubby Nur Rachman,
Volume 35, Issue 4 (12-2024)
Abstract
In industrial and commercial settings, inventory systems often involve managing multiple products with diverse demand patterns, making the direct application of the single-item newsvendor model inefficient. To address this complexity, this study proposes an adaptation of the newsvendor model through demand aggregation, where related items are grouped into a product family. By aggregating demand and financial parameters, the traditional newsvendor approach can be extended to multi-item systems, simplifying the inventory management process. This method was tested in two different case studies—a coffee roaster company and a meatball producer—demonstrating its validity and applicability. The aggregated newsvendor model was found to enhance inventory accuracy and efficiency, reducing random error and improving operational performance. This approach offers a valuable extension of the newsvendor model, with potential for broader application across various industries.

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