Time-based Shipment Consolidation and Stock Replenishment Policy with Lead Time in a Vendor-Managed Inventory System

摘要

In order to maintain a reasonable system cost and help suppliers on correct supply decision-making, this paper presents a time-based shipment consolidation and stock replenishment integrated policy with lead time in the vendor-managed inventory system. The system cost is analyzed and then the mathematical model is built. With analysis and simulations, the optimal solution's bound is decided, and the optimal solution is attained with heuristic method. The relationship between the order lead time and corresponding integrated policy is discussed, and the influence of lead time on the system cost is analyzed. At last the parameter sensitivity of the model is analyzed. The results reveal that the longer the lead time of orders is, the more serious influences it has on the system, and the more reasonable the integrated policy with the order lead time is than that without lead time.