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Integrated inventory model for deteriorating items under a multi-echelon supply chain environment

Authors
Journal
International Journal of Production Economics
0925-5273
Publisher
Elsevier
Publication Date
Volume
86
Issue
2
Identifiers
DOI: 10.1016/s0925-5273(03)00048-3
Keywords
  • Supply Chain
  • Deteriorating Item
  • Multi-Echelon
  • Joint Total Cost
  • Integrated Approach

Abstract

Abstract As the industrial environment becomes more competitive, supply chain management has become essential. The objective of this research is to develop a multi-echelon inventory model for a deteriorating item and to derive an optimal joint total cost from an integrated perspective among the supplier, the producer, and the buyer. A computer code is developed to derive the optimal solution. A numerical example is given to illustrate the model. This paper shows that the integrated approach strategy results in the lowest joint total cost as compared with the independent decision approaches.

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