Relatively optimal production-distribution plans for stock management in supply chains over a finite time horizon

Abstract A model of the centralized dynamic production - distribution control is considered. In a supply chain a vendor supplies a product to a buyer, sending the products to the buyer’s warehouse in equal-size batches. Costs are attached to manufacturing the batch, the delivery of shipment and stockholding at both agents, and defined on production-distribution cycles (PDCs). There is only one production setup in a cycle with the restriction that in each warehouse the beginning and the ending inventory levels are the same. It is shown that the average cost of “sensible” PDCs is a continuous piece-wise convex function of their production batch sizes. For infinite time horizon the optimal production distribution plan is a constant sequence of PDCs with lowest average cost - economic production-distribution cycles (EPDCs).

• Publication year

  2020

• Venue

  Computers & industrial engineering

• Publication date

  2020-06-01

• Fields of study

  Mathematics, Business, Engineering, Computer Science

• Identifiers
  DOI 10.1016/j.cie.2020.106445
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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