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Article: A quantity-time-based dispatching policy for a VMI system

TitleA quantity-time-based dispatching policy for a VMI system
Authors
Issue Date2005
PublisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/
Citation
Lecture Notes In Computer Science, 2005, v. 3483 IV, p. 342-349 How to Cite?
AbstractIn a Vendor-Managed Inventory (VMI) system, the supplier or the distributor is authorized to coordinate and consolidate the inventories at the retailers. The advantage of VMI is that the bullwhip effect can be minimized and the stock-out situations can also be reduced. Moreover, it provides a framework for synchronizing transportation decisions and hence reduce the transportation cost significantly. In this paper, we present an analytic model for quantity-time-based dispatching policy. The model discussed here takes into the account of the inventory cost, the transportation cost, the dispatching cost and the re-order cost. Since a new inventory cycle begins whenever there is a dispatching of products, the long-run average costs of the model can be obtained by using the renewal theory. We also derive a closed form solution of the optimal dispatching policy. © Springer-Verlag Berlin Heidelberg 2005.
Persistent Identifierhttp://hdl.handle.net/10722/123624
ISSN
2005 Impact Factor: 0.402
2015 SCImago Journal Rankings: 0.252
References

 

DC FieldValueLanguage
dc.contributor.authorChing, WKen_HK
dc.contributor.authorTai, AHen_HK
dc.date.accessioned2010-09-26T12:16:27Z-
dc.date.available2010-09-26T12:16:27Z-
dc.date.issued2005en_HK
dc.identifier.citationLecture Notes In Computer Science, 2005, v. 3483 IV, p. 342-349en_HK
dc.identifier.issn0302-9743en_HK
dc.identifier.urihttp://hdl.handle.net/10722/123624-
dc.description.abstractIn a Vendor-Managed Inventory (VMI) system, the supplier or the distributor is authorized to coordinate and consolidate the inventories at the retailers. The advantage of VMI is that the bullwhip effect can be minimized and the stock-out situations can also be reduced. Moreover, it provides a framework for synchronizing transportation decisions and hence reduce the transportation cost significantly. In this paper, we present an analytic model for quantity-time-based dispatching policy. The model discussed here takes into the account of the inventory cost, the transportation cost, the dispatching cost and the re-order cost. Since a new inventory cycle begins whenever there is a dispatching of products, the long-run average costs of the model can be obtained by using the renewal theory. We also derive a closed form solution of the optimal dispatching policy. © Springer-Verlag Berlin Heidelberg 2005.en_HK
dc.languageengen_HK
dc.publisherSpringer Verlag. The Journal's web site is located at http://springerlink.com/content/105633/en_HK
dc.relation.ispartofLecture Notes in Computer Scienceen_HK
dc.titleA quantity-time-based dispatching policy for a VMI systemen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0302-9743&volume=3483&spage=342&epage=349&date=2005&atitle=A+Quantity-time-based+Dispatching+Policy+for+a+VMI+Systemen_HK
dc.identifier.emailChing, WK:wching@hku.hken_HK
dc.identifier.authorityChing, WK=rp00679en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.scopuseid_2-s2.0-24944434081en_HK
dc.identifier.hkuros98000en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-24944434081&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume3483en_HK
dc.identifier.issueIVen_HK
dc.identifier.spage342en_HK
dc.identifier.epage349en_HK
dc.publisher.placeGermanyen_HK
dc.identifier.scopusauthoridChing, WK=13310265500en_HK
dc.identifier.scopusauthoridTai, AH=8901145000en_HK

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