Two-echelon supply chain inventory model with variable lead time and ramp-type demand for deterioration item under bi-level credit period

Dipak Barman and Barun Das

International Journal of Inventory Research, 2021, vol. 6, issue 1, 14-46

Abstract: Here, a two-echelon supply chain inventory problem consisting of a vendor and a buyer is considered for a deteriorating item. In the system, the buyer receives an opportunity of trade credit from the vendor and simultaneously the buyer offers a credit period to the customers. The buyer's inventory model includes stochastic lead time following a normal distribution and the buyer sells the item to the customer with a more realistic ramp-type demand rate. The vendor produces the goods to maintain the supply to the buyer. The purpose of this study is to minimise the total cost for different sub-cases. The problem is optimised through the soft computing technique namely, genetic algorithm and different types of convexity has been tested here. Finally, this model is discussed with numerical examples.

Keywords: vendor-buyer integrated inventory system; stochastic lead time; ramp-type demand; deterioration; bi-level credit policy; genetic algorithm. (search for similar items in EconPapers)
Date: 2021
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