Integrated vendor-buyer inventory policy: gap finding and potential research directions
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(Published version)
Date
2009
Authors
Prasetyo, H.
Luong, L.H.S.
Lee, S.H.
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Conference paper
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Proceedings of the 3rd international conference on operations and supply chain management, 2009, pp.1-11
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OSCM Malaysia 2009 : 3rd international conference on operations and supply chain management (9 Dec 2009 - 11 Dec 2009 : Bujang Valley, Malaysia)
Abstract
Tough competition in this global economy has forced vendors to collaborate with their buyers in managing the material flows to achieve a higher level of customer satisfaction. Integrated production and inventory policies between a vendor and buyer could provide significant operational cost savings. Despite its potential saving, no upto-date research which provides a picture of how far such integration has been done. This paper fulfils that need by providing a literature survey on integrated vendor-buyer (IVB) inventory policy where the vendor has a finite production rate. Two areas of IVB, namely the Joint Economic Lot Size Problem (JELSP) and the Economic Lot and Delivery-Scheduling Problem (ELDSP) which originated from production-distribution and supplier-production linkages, respectively, are studied. The main motivation of including both JELSP and ELDSP is acknowledging the potential to merge both areas tackling more complex cases which are closer to real industrial problems. The main aims of the review are twofold; (1) to assess current research in both areas based on supply chain structure, uncertainty, transportation issues and coordination mechanisms aspects and (2) to find gaps and propose directions for future research
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Copyright 2009 the authors