Optimizing inventory decisions in a multi-stage multi-customer supply chain |
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| Institution: | 1. Engineering Systems & Design Pillar, Singapore University of Technology and Design, 8 Somapah Road, 487372 Singapore;2. Escuela de Gobierno, Tecnologico de Monterrey, Carlos Lazo 100, 01389 Mexico City, Mexico;1. Institute of Innovation and Circular Economy, Asia University, Taiwan;2. Department of Business Administration, College of Management, Asia University, Taiwan;3. Department of Medical Research, China Medical University Hospital, China Medical University, Taiwan;4. School of Business, University of Nottingham, United Kingdom;5. Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia;1. Department of Production Engineering, Faculty of Engineering, King Mongkut’s University of Technology Thonburi, Bangmod, Bangkok, Thailand;2. Department of Industrial Engineering, Faculty of Engineering, Mahidol University, Salaya, Nakhonpathom, Thailand |
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| Abstract: | Most supply chain models focus on two-stage chains in which vendors supply material to one customer. In this paper, we formulate a three-stage supply chain model where a firm can supply many customers. We deal with three inventory coordination mechanisms between chain members and solve a cost minimization model for each. We show that some of the coordination mechanisms can result in a significantly lower total cost than matching production and delivery along the chain. We provide some insights into when the added complexity of the second and third coordination mechanisms lead to significant cost reductions. |
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