AI SearchVMI inventory policy with age-dependent demand for perishable products
Call Number: AIT Thesis no.ISE-24-24 Material type:
SeriesSeries: Asian Institute of Technology. Thesis ; no. ISE-24-24Publication details: Pathum Thani : Asian Institute of Technology, 2024Description: 53 leaves : ill.+ 1 online resourceSubject(s): Online resources: Dissertation note: Thesis (M. Eng.) - Asian Institute of Technology, 2024 Summary: 2Vendor Managed Inventory (VMI)3 is a valuable approach for improving supply chain performance and fostering cooperative relationships between supply chain participants. This research intends to create an inventory model specifically designed for perishable goods under a VMI framework, involving one vendor and multiple retailers. Perishable goods, such as vegetables and fruits, deteriorate at a constant rate, with demand assumed to decline linearly as the products age. This model incorporates scenarios in which shortages may arise, with full backlogging considered. The primary aim of this study is to minimize the total system cost by determining the optimal replenishment cycle for the products and identifying the precise point at which retailer inventories are exhausted. Once the model is developed, numerical tests are conducted to assess its practicality. Sensitivity analyses are then performed to show how variations in input parameters affect the optimal solution and overall costs. Finally, the investigation concludes with conclusions and recommendations for future research endeavors.
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Asian Institute of Technology Library Archives | AIT Thesis no.ISE-24-24 (Browse shelf(Opens below)) | 1 | Available |
A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering in Industrial and Manufacturing Engineering
Thesis (M. Eng.) - Asian Institute of Technology, 2024
2Vendor Managed Inventory (VMI)3 is a valuable approach for improving supply chain performance and fostering cooperative relationships between supply chain participants. This research intends to create an inventory model specifically designed for perishable goods under a VMI framework, involving one vendor and multiple retailers. Perishable goods, such as vegetables and fruits, deteriorate at a constant rate, with demand assumed to decline linearly as the products age. This model incorporates scenarios in which shortages may arise, with full backlogging considered. The primary aim of this study is to minimize the total system cost by determining the optimal replenishment cycle for the products and identifying the precise point at which retailer inventories are exhausted. Once the model is developed, numerical tests are conducted to assess its practicality. Sensitivity analyses are then performed to show how variations in input parameters affect the optimal solution and overall costs. Finally, the investigation concludes with conclusions and recommendations for future research endeavors.
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