Inventory replenishment model: lot sizing versus just-in-time delivery

Authors:
Chung-Yee Lee
Affiliations:
Department of Industrial Engineering and Engineering Management, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong
Venue:
Operations Research Letters
Year:
2004

Citing 13
Cited 5

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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.