TY  - SER
AU  - Janthratip Khamwarut
AU  - Huynh, Trung Luong,
AU  - Manukid Parnichkun,
AU  - Mongkol Ekpanyapong,
ED  - Royal Thai Government Fellowship,
TI  - An optimal stock level and pricing strategy for perishable products under the VMI system
T2  - Thesis
PY  - 2024///
CY  - Pathum Thani
PB  - Asian Institute of Technology
KW  - Inventory control
KW  - Mathematical models
KW  - Weibull distribution
KW  - Perishable goods
N1  - 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
N2  - Vendor-managed inventory (VMI) is an approach used to ensure that perishable items  are always available while also improving operational efficiency and compliance with  quality standards. In this study, we study a new decision scenario concerning a  deteriorating item, focusing on the case of a single vendor and single retailer under  VMI system. We develop the mathematical model considering the base stock policy,  which will be implemented with a maximum stock level (S), with adjustments made  to discount prices based on shelf life to encourage a retailer to buy products. Demand  rates are influenced by pricing, assuming that the rate of deterioration for a  deteriorating item follows a Weibull distribution and a fully backlogged shortage. To  assess the efficacy of the proposed models, we conduct numerical experiments and  sensitivity analyses. These analyses aim to evaluate how changes in input variables  impact experimental outcomes and shed light on the effects of alterations in input  parameters on optimal solutions. Finally, we present the conclusions drawn from our  study, along with recommendations for future research.
UR  - http://203.159.5.9/ait-thesis/detail.php?q=B23336
ER  -