The time-based and the quantity-based delivery policies in VMI
Vendor managed inventory is a new management mode in which the vendor decides the replenishment time and quantity of the downstream members. There are two basic policies which are the time-based and the quantity-based delivery policy. The optimal values, i. e. the long-run expected average cost, the target inventory level etc. are concluded in different conditions. Moreover, Considering the vendor optimal order-up-to level being zero in the time-based policy, the optimal long-run expected average cost and magnitude of the cost savings are compared between the two policies by the way of reasons. The results show the quantity-based policy performs better than the time-based policy in terms of the long-run expected average cost. They also show the magnitude of the cost savings range.
Delivery Quantity-based Time-based Vendor Managed Inventory
Peng-fei Liu Ru-he Xie Peng Yang
School of Traffic and Transportation Engineering, Central South University, P. R. China, 410075 Scho School of Economics and Management, Guangzhou University, P. R. China, 510006 School of Traffic and Transportation Engineering, Central South University, P. R. China, 410075
国际会议
北京
英文
848-852
2007-08-18（万方平台首次上网日期，不代表论文的发表时间）