Journal of Korean Society of Industrial and Systems Engineering (산업경영시스템학회지)

Society of Korea Industrial and System Engineering (한국산업경영시스템학회)
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An Integrated Inventory Model for a Single Product and its Raw Materials in Just-In-Time Purchasing

JIT구매 하에서의 단일제품의 통합재고모형에 관한 연구

  • 김대홍 (한성대학교 산업 및 기계시스템공학부)
  • Published : 2003.09.01
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Abstract

In this paper, we consider an integrated inventory system where a single supplier purchases and processes raw materials in order to deliver finished goods to a single buyer for effective implementation of Just-In-Time purchasing. An integrated JIT lot-splitting model of facilitating multiple shipments in small lots is developed in a JIT purchasing environment. Also, an iterative solution procedure is developed to find the order quantity for the finished goods and raw materials, and the number of shipments between buyer and supplier. We show by example that the integrated policy adopted by both buyer and supplier in a cooperative manner can provide them a greater economic benefit than seeking the local optimal inventory policy independently.

Keywords

References

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