The production size and inventory policy for a manufacturer in a two-echelon inventory model |
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| Affiliation: | 1. Department of Industrial and Information Management & Institute of Information Management, National Cheng Kung University, Tainan, Taiwan, ROC;2. Department of Industrial and Information Management, National Cheng Kung University, Tainan, Taiwan, ROC;3. Center of General Education, Southern Taiwan University of Technology, Tainan, Taiwan, ROC;1. Department of Mathematics, Institute of Applied Sciences and Humanities, GLA University, NH-2, Mathura 281406, India;2. School of Statistics, Devi Ahilya University, Vigyan Bhawan, Khandwa Road, Indore 452017, India;1. Department of Mathematics, Arul Anandar College, Karumathur, Tamil Nadu, India;2. Department of Mathematics, GTN Arts College, Dindigul, Tamil Nadu, India;3. Department of Management Studies, PSNA College of Engineering, Dindigul, Tamil Nadu, India;1. Department of Machine Tools and Factory Management, Technische Universität Berlin, 10587 Berlin, Germany;2. Production Technology Centre, Office PTZ 2, Pascalstraße 8-9, D-10587, Berlin, Germany;1. Votkinsk Branch of Kalashnikov Izhevsk State Technical University, Department of Higher Mathematics, Physics, Chemistry, Studencheskaya 7, Izhevsk 426069, Russia;2. Izhevsk motor plant, Axion-holding, Izhevsk 426069, Russia;3. Kalashnikov Izhevsk State Technical University, Department of Scientific-Technical Translation and Intercultural Communication, Studencheskaya 42, Izhevsk 426069, Russia |
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| Abstract: | This paper proposes a two-echelon inventory model for a periodical commodity, in which the market and manufacturing channels are combined. This model can be used to solve the production policy, the order policies of the raw materials for the manufacturer, and order size for the retailer. By assuming that the retailers’ demand obeys normal distribution and that the retailer makes orders according to the Newsboy Rule, we derive the necessary and sufficient conditions for the optimal solution of production size, wholesale price, and replenishment cycle of raw materials for the manufacturer. Also, the necessary condition is explored in order to gain managerial insights and economic implications based on numerical examples and sensitivity analysis. |
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