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|Title:||Towards a more economic production and just-in-time delivery system|
|Source:||Zhuang, L. (1994-10). Towards a more economic production and just-in-time delivery system. International Journal of Production Economics 36 (3) : 307-313. ScholarBank@NUS Repository.|
|Abstract:||We study a system in which a batch production supplier participates in just-in-time (JIT) delivery of its products to a JIT buyer firm. We demonstrate that under certain conditions a small adjustment of previously agreed product selling price can result in a more economic production and JIT delivery system with reduced delivery quantity and hence increased delivery frequency.In the case when both buyer and supplier share equal profit margin, optimal levels of adjustment for price and delivery frequency can be obtained that maximize the profit margin. A numerical example is used to illustrate the results. © 1994.|
|Source Title:||International Journal of Production Economics|
|Appears in Collections:||Staff Publications|
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