An Integrated Inventory Model for Vendor and Buyer

Zhiguang Zhang

Abstract


An integrated inventory model for vendor and buyer is presented in this paper. Based on the integrated expected total relevant costs of both buyer and vendor, we obtain the optimal values of reorder point, order quantity, and number of shipments. Numerical example shows the model is effective, and it is also used to analyze the savings in joint total cost over individually derived policies.


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Modern Applied Science   ISSN 1913-1844 (Print)   ISSN 1913-1852 (Online)

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