Vendor-managed inventory model for multiple retailers' systems with different replenishment cycles | |
| Author | Htet Shwe Zin Toe |
| Call Number | AIT Thesis no.ISE-24-25 |
| Subject(s) | Inventory control--Mathematical models Perishable goods |
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering in Industrial and Manufacturing Engineering |
| Publisher | Asian Institute of Technology |
| Abstract | This thesis outlines the creation of an inventory model designed for a supply chain functioning within a Vendor Managed Inventory (VMI) framework, which includes one vendor and two retailers. The model is based on an order-up-to-level inventory policy for two retailers, aiming to optimize inventory management and minimize the total supply chain cost. The study assumes deterministic demand, prohibits shortages, and allows for different replenishment cycles for the two retailers, which are multiples of a common cycle time. Key factors such as holding costs, ordering costs, deterioration costs, and constant deterioration rates are incorporated into the model. The research employs numerical experiments and sensitivity analysis to validate the model's applicability and assess the impact of varying input parameters on total costs and decision variables, including base stock levels and replenishment cycles. The results demonstrate that aligning replenishment cycles and inventory policies with the cost structure can effectively reduce supply chain costs. The study also highlights the sensitivity of total costs to parameters such as holding costs and deterioration rates. This research provides a structured framework for inventory management in supply chains with perishable goods and multiple retailers. It concludes with recommendations for future research, including extending the model to stochastic demand, time-varying deterioration rates, and multi-vendor systems to enhance practicality and adaptability. |
| Year | 2024 |
| Type | Thesis |
| School | School of Engineering and Technology |
| Department | Department of Industrial Systems Engineering (DISE) |
| Academic Program/FoS | Industrial and Manufacturing Engineering (IME) |
| Chairperson(s) | Huynh, Trung Luong |
| Examination Committee(s) | Manukid Parnichkun;Mongkol Ekpanyapong |
| Scholarship Donor(s) | AIT Fellowship Scholarship |
| Degree | Thesis (M. Eng.) - Asian Institute of Technology, 2024 |