Research on Optimal Policy of Single-Period Inventory Management with Two Suppliers
Joint Authors
Yang, Baimei
Sui, Lihui
Zhu, Peipei
Source
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-5, 5 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-11-19
Country of Publication
Egypt
No. of Pages
5
Main Subjects
Medicine
Information Technology and Computer Science
Abstract EN
We study a single-period inventory control problem with two independent suppliers.
With the first supplier, the buyer incurs a high variable cost but negligible fixed cost; with the second supplier, the buyer incurs a lower variable cost but a positive fixed cost.
At the same time, the ordering quantity is limited.
We develop the optimal inventory control policy when the holding and shortage cost function is convex.
We also conduct some numerical experiments to explore the effects of the fixed setup cost K and the ordering capacity Q on the optimal control policy.
American Psychological Association (APA)
Yang, Baimei& Sui, Lihui& Zhu, Peipei. 2014. Research on Optimal Policy of Single-Period Inventory Management with Two Suppliers. The Scientific World Journal،Vol. 2014, no. 2014, pp.1-5.
https://search.emarefa.net/detail/BIM-1049546
Modern Language Association (MLA)
Yang, Baimei…[et al.]. Research on Optimal Policy of Single-Period Inventory Management with Two Suppliers. The Scientific World Journal No. 2014 (2014), pp.1-5.
https://search.emarefa.net/detail/BIM-1049546
American Medical Association (AMA)
Yang, Baimei& Sui, Lihui& Zhu, Peipei. Research on Optimal Policy of Single-Period Inventory Management with Two Suppliers. The Scientific World Journal. 2014. Vol. 2014, no. 2014, pp.1-5.
https://search.emarefa.net/detail/BIM-1049546
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1049546