Optimal production-inventory policy for an integrated multi-stage supply chain with time-varying demandAuthor-Name: Zhao, Shi Tao

Kan Wu and Xue-Ming Yuan

European Journal of Operational Research, 2016, vol. 255, issue 2, 364-379

Abstract: An integrated multi-stage supply chain with time-varying demand over a finite planning horizon is considered in this paper. The objective is to devise the optimal production-inventory policy to minimize the total operational cost. The model is formulated as a mixed integer nonlinear programming problem. The problem is represented as a weighted directed acyclic graph. The global minimum total operational cost is computed in polynomial time by the developed algorithm. Two numerical examples of a seasonal product and a product over its life cycle are studied to illustrate the results. A sensitivity analysis of the system parameters is conducted to assist the supply chain decision makers.

Keywords: Supply chain management; Inventory; Time-varying demand; Networks (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:255:y:2016:i:2:p:364-379

DOI: 10.1016/j.ejor.2016.04.027

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