Open AccessCoordinating Supply Chain Inventory Model for Deteriorating Products
Author(s) -
M. Ravithammal,
M. Ramesh Babu,
G. Banu,
P. Muniappan
Publication year - 2020
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.d1032.1284s519
Subject(s) - supply chain , computer science , operations research , mathematical optimization , ideal (ethics) , inventory cost , business , engineering , mathematics , marketing , philosophy , epistemology
The paper manages an optimal inventory replenishment policy for a deteriorating item with two part coordination technique (coordination and non coordination). The aim of this model is to determine the optimal values for every strategy such that the expected total cost is minimized. The model is solved analytically to get the ideal solution. It is then outlined with the assistance of numerical models.