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A Coordination Model Under an Order-Up-To Policy
- Authors
- Kim, Jong Soo; Jeong, Won Chan
- Issue Date
- Dec-2011
- Publisher
- INST MATHEMATICS & INFORMATICS
- Keywords
- inventory control; buyer-supplier model; stochastic demand; periodic policy
- Citation
- INFORMATICA, v.23, no.2, pp 225 - 246
- Pages
- 22
- Indexed
- SCIE
SCOPUS
- Journal Title
- INFORMATICA
- Volume
- 23
- Number
- 2
- Start Page
- 225
- End Page
- 246
- ISSN
- 0868-4952
1822-8844
- Abstract
- A logistics system that involves a supplier who produces and delivers a single product and a buyer who receives and sells the product to the final customers was analyzed. A mathematical model was developed to describe the behavior of the system and to derive the optimal cycle length and order-up-to levels for the two parties. An analysis of the obtained results revealed that the methods were able to determine the optimal control parameters for each party in a short time frame. A coordination mechanism based on the optimal policies was ultimately proposed so that each party benefits more than if they use their own optimal control policy.
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