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An Integrated Inventory Model for a Vendor-Buyer Supply Chain in a JIT Purchasing  

Kim, Dae-Hong (Department of Industrial Systems Engineering, Hansung University)
Publication Information
Journal of Korean Society of Industrial and Systems Engineering / v.32, no.3, 2009 , pp. 159-167 More about this Journal
Abstract
In this paper, we consider a single-vendor single-buyer supply chain problem where a single vendor orders raw materials from its supplier, then using its manufacturing processes converts the raw materials to finished goods in order to deliver finished goods to a single buyer for effective implementation of Just-In-Time Purchasing. An integrated lot-splitting model of facilitating multiple shipments in small lots between buyer and supplier is developed in a JIT Purchasing environment. Also, an iterative heuristic solution procedure is developed to find the order quantity for finished goods and raw materials, and number of shipments between buyer and supplier. We show by numerical example that when the integrated policy is adopted by both vendor and buyer in a cooperative manner, both parties can benefit.
Keywords
Supply Chain Management; JIT Purchasing; Heuristic Solution Procedure;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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