Abstract
In this paper, production-inventory models for a deteriorating item in a single vendor-buyer system has been developed with constant production and demand rate. Shortages at the buyer (when it is allowed) depends on time. The models have been formulated as cost minimization problem via both integrated and non-integrated approaches and solved using genetic algorithms developed to solve the single and multiobjective production inventory problems. Numerical illustrations of the models have been presented and the sensitivity analysis with respect to rates of production, demand and deterioration are performed.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Banerjee A (1986) A joint economic lot size model for purchaser and vendor. Decis Sci 17:292–311
Chang HJ, Dye CY (2000) An EOQ model with deteriorating items in response to temporary sale price. Prod Plan Control 11(5):464–473
Chen F, Federgruen A, Zheng Y (2001) Coordination mechanisms for a distribution system with one supplier and multiple-retailers. Manag Sci 47(5):693–708
Deb K, Pratap A, Agarwal S, Meyarivan T (2002) A fast and elitist multiobjective genetic algorithm: NSGA-II. IEEE Trans Evol Comput 6(2):182–197
Fonseca CM, Fleming PJ (1993) Genetic algorithms for multiobjective optimization, formulation, discussion and generalization. In: Forrest S (ed) Proceedings of the fifth international conference on genetic algorithm. Kauffman, San Mateo, pp 416–423
Ghare PM, Schrader GH (1963) A model for exponentially decaying inventory system. Int J Prod Res 21:449–460
Goldberg DE (1989) Genetic algorithms: search, optimization and machine learning. Addison–Wesley
Goyal SK (1988) A joint economic lot size model for purchaser and vendor, a comment. Dec Sci 19:236–241
Goyal BC, Giri BC (2001) Recent trends in modeling of deteriorating inventory. Eur J Oper Res 134:1–16
Goyal SK, Nebebe F (2000) Determination of economic production-shipment policy for a single-vendor single-buyer system. Eur J Oper Res 121:175–178
Horn J, Nafploitis N, Goldberg DE (1994) A niched Pareto genetic algorithm for multiobjective optimization. In: Michalewicz Z (ed) Proceedings of the first IEEE conference on evolutionary computation. IEEE Press, Piscataway, pp 82–87
Huang CK (2002) An integrated vendor-buyer co-operative inventory model for items with imperfect quality. Prod Plan Control 13(4):355–361
Mahapatra NK, Maiti M (2005) Decision process for muitiobjective, multi-item production inventory system via interactive fuzzy satisficing technique. Comput Math Appl 49:805–821
Mahapatra NK, Bhunia AK, Maiti M (2005) A muitiobjective model of wholesaler retailers’ problem via genetic algorithm. J Appl Math Comput 19(1–2):397–414
Sharafali M, Co HC (2000) Some model for understanding the operation between the supplier and the buyer. Int J Prod Res 38(15):3425–3449
Srinivas N, Deb K (1995) Multiobjective function optimization using nondominated sorting genetic algorithms. Evol Comput 2(3):221–248
Wang Q (2002) Determination of suppliers’ optimal quantity discount schedules with homogeneous buyers. Nav Res Logist 49:46–59
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Mahapatra, N.K., Das, K. & Maiti, M. Production-inventory policy for a deteriorating item with a single vendor-buyer system. Optim Eng 8, 431–448 (2007). https://doi.org/10.1007/s11081-007-9012-4
Received:
Revised:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11081-007-9012-4