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|Title:||Analysis of supply contracts with minimum total order quantity commitments and non-stationary demands|
|Authors:||Chen, F.Y. |
|Source:||Chen, F.Y., Krass, D. (2001). Analysis of supply contracts with minimum total order quantity commitments and non-stationary demands. European Journal of Operational Research 131 (2) : 309-323. ScholarBank@NUS Repository. https://doi.org/10.1016/S0377-2217(99)00445-2|
|Abstract:||In this paper we address a buyer-supplier arrangement of particular importance: total order quantity commitment (TOQC). Under the TOQC contract that has been negotiated between the buyer and the supplier, the former agrees to an obligation to procure a certain quantity of an item from the latter over the predetermined period of time (additional quantity can be obtained maybe at a different price). The optimal inventory replenishment policy is shown to be dual order-up-to levels under a given TOQC, and the optimal TOQC is also demonstrated to be mathematically straightforward to obtain. © 2001 Elsevier Science B.V.|
|Source Title:||European Journal of Operational Research|
|Appears in Collections:||Staff Publications|
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