Due to the uncertain situations of the world, considering inventory management in a stochastic environment gains a lot of interest. In this paper, we propose a multi-item economic production quantity (EPQ) model with a shortage for a single-vendor, multi-retailer supply chain under vendor managed inventory (VMI) policy in a stochastic environment. Three stochastic constraints are developed in the model. Geometric programming (GP) approach is employed to find the optimal solution of the nonlinear stochastic programming problem to minimize the mean-variance of the total inventory cost of the system. Since the problem is in the Signomial form, first, an algorithm is used to convert the model into the standard GP form. The performance of the addressed model and the solving method are evaluated based on computational experiments and sensitivity analysis. A case study in an Iranian furniture supply chain is conducted to show the applicability of the proposed model and 17.78% improvement in terms of total cost is gained.
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DOI : 10.1051/ro/2019058
Mots-clés : Supply chain, vendor managed inventory (VMI), economic production quantity (EPQ), stochastic programming, geometric programming (GP)
@article{RO_2020__54_5_1401_0,
author = {Karimian, Yasaman and Mirzazadeh, Abolfazl and Pasandideh, Seyed Hamidreza and Namakshenas, Mohammad},
title = {A geometric programming approach for a vendor managed inventory of a multiretailer multi-item {EPQ} model},
journal = {RAIRO - Operations Research - Recherche Op\'erationnelle},
pages = {1401--1418},
publisher = {EDP-Sciences},
volume = {54},
number = {5},
year = {2020},
doi = {10.1051/ro/2019058},
mrnumber = {4127957},
language = {en},
url = {http://www.numdam.org/articles/10.1051/ro/2019058/}
}
TY - JOUR AU - Karimian, Yasaman AU - Mirzazadeh, Abolfazl AU - Pasandideh, Seyed Hamidreza AU - Namakshenas, Mohammad TI - A geometric programming approach for a vendor managed inventory of a multiretailer multi-item EPQ model JO - RAIRO - Operations Research - Recherche Opérationnelle PY - 2020 SP - 1401 EP - 1418 VL - 54 IS - 5 PB - EDP-Sciences UR - http://www.numdam.org/articles/10.1051/ro/2019058/ DO - 10.1051/ro/2019058 LA - en ID - RO_2020__54_5_1401_0 ER -
%0 Journal Article %A Karimian, Yasaman %A Mirzazadeh, Abolfazl %A Pasandideh, Seyed Hamidreza %A Namakshenas, Mohammad %T A geometric programming approach for a vendor managed inventory of a multiretailer multi-item EPQ model %J RAIRO - Operations Research - Recherche Opérationnelle %D 2020 %P 1401-1418 %V 54 %N 5 %I EDP-Sciences %U http://www.numdam.org/articles/10.1051/ro/2019058/ %R 10.1051/ro/2019058 %G en %F RO_2020__54_5_1401_0
Karimian, Yasaman; Mirzazadeh, Abolfazl; Pasandideh, Seyed Hamidreza; Namakshenas, Mohammad. A geometric programming approach for a vendor managed inventory of a multiretailer multi-item EPQ model. RAIRO - Operations Research - Recherche Opérationnelle, Tome 54 (2020) no. 5, pp. 1401-1418. doi : 10.1051/ro/2019058. http://www.numdam.org/articles/10.1051/ro/2019058/
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