A Mathematical Model for the Impact of Suppliers’ Continuous Risks to a Manufacturer’s Inventory Decision in a Supply Chain  

Oleh:

Gobaco, Bryan ; Labor, Alejandro ; Pedro, Earvin de ; Seno, Bryan

Jenis: Article from Proceeding
Dalam koleksi: The 14th Asia Pacific Industrial Engineering and Management Systems Conference (APIEMS), 3-6 December 2013 Cebu, Philippines, page 1-9.
Topik: Supply Chain Management; Inventory Modeling & Management; Matemastical Models; Operations Research
Fulltext: 2024.pdf (590.6KB)

Isi artikel

This study considers a dual echelon supply chain consisting of multiple suppliers and a manufacturer. Suppliers are considered to have an order fulfillment or quantity and quality risk from the perspective of the manufacturer thus the multiple supplier base as a possible strategy to mitigate the risks faced by the latter. The ordering and inventory management policy of the manufacturer will then be encapsulated in a mathematical model with reorder point and optimal order quantity that could be allocated to more than one supplier as inventory policy decisions. In light of each supplier’s risk characterization and the practice of quantity discounts, it would be of interest to see how the manufacturer’s inventory policy would be affected in a pool of suppliers to which it can allocate its order to. The study is envisioned to contribute significantly to the field of supply chain risk management, specifically, to the understanding of how supplier risk mitigation through an increase in supplier base should impact a manufacturer’s inventory action considering the varying discounting practice and risk characterization of those suppliers.

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