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| Author: | Bassok, Y. Akella, R. |
| Title: | Ordering and production decisions with supply quality and demand uncertainty. |
| Journal: | Management Science
1991 : DEC, VOL. 37:12, p. 1556-1574 |
| Index terms: | INVENTORY CONTROL PRODUCTION COSTS |
| Language: | eng |
| Abstract: | A production planning problem is solved and it is shown that it has a direct connection with the costs to a facility of vendor quality and reliability, and it is also important as a first step in solving the multiplant coordination problem. A manufacturing facility is considered with one critical raw material and one or more products whose demand needs are to be met. It is assumed that demand for the finished goods and the arrival process for raw material are stochastic. The optimal production level and the raw material order quantity is calculated simultaneously. The results show that the production level should not be larger than that obtained by the traditional (nonintegrated) models, and major savings are obtained by solving the integrated model. |
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