Volume 55, 2021Regular articles published in advance of the transition of the journal to Subscribe to Open (S2O). Free supplement sponsored by the Fonds National pour la Science Ouverte
|Page(s)||S1425 - S1446|
|Published online||02 March 2021|
Consignment stock policy in an integrated vendor-buyer model for deteriorating item with stock dependent demand under buyer’s space limitation
Department of Applied Sciences, Haldia Institute of Technology, East Midnapore 721657, India
2 Department of Mathematics, Kanchrapara College, North 24 Parganas 743145, India
3 Department of Mathematics, Jadavpur University, Kolkata 700032, India
* Corresponding author: firstname.lastname@example.org
Accepted: 23 October 2020
In this paper, a single-vendor single-buyer integrated inventory model for a deteriorating item with consignment stock policy is developed, assuming that the market demand is stock dependent and there is space limitation on the buyer’s storage capacity. Both equal and unequal shipments from the vendor to the buyer are considered. The effects of the buyer’s space capacity on the average cost, shipment size, and production batch are studied through numerical example. It is deduced that production rate is the key factor to determine whether to use equal or unequal shipment strategy. Sensitivity analysis is carried out to establish the robustness of the solutions of the models developed.
Mathematics Subject Classification: 90B05
Key words: Consignment stock / vendor managed inventory / space constraint / stock dependent demand / deterioration
© EDP Sciences, ROADEF, SMAI 2021
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