Scheduling and replenishment plan for an integrated deteriorating inventory model with stock-dependent selling rate |
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Authors: | Chun-Jen Chung Hui-Ming Wee |
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Affiliation: | (1) Department of Industrial Engineering, Chung Yuan Christian University, Chungli, 32023 Taiwan, Republic of China |
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Abstract: | An integrated approach is used to clarify the critical issues of scheduling and replenishment planning in an advanced inventory
system under stock-dependent selling rate environment. This is because integration removes the barriers between enterprises
and improves overall performance. A close collaboration such as just-in-time (JIT) operations also improves product quality
of the supply chain. Different from the single-stage inventory model, this study develops an integrated two-stage production-inventory
deteriorating model for the buyer and the supplier with stock-dependent selling rate, as well as considering imperfect items
and JIT multiple deliveries. Our paper proposes a significant method using a time-weighted-inventory approach to analyze the
supplier’s saw-tooth holding cost. We derive the optimal number of inspection, optimal deliveries and the optimal delivery-time
interval. A numerical example is also presented to illustrate the theory. The results show that the fixed demand rate, the
holding cost and the unit inspection cost are critical in the management of the deteriorating inventory model. |
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Keywords: | Integrated production-inventory deteriorating model JIT multiple delivery Stock-dependent selling rate Rework Inspection |
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