Bi-level vendor–buyer strategies for a time-varying product price

In recent years, two-echelon inventory system has been widely studied by many researchers. Most researches focused on joint integrated model, and very few have applied the bi-level strategies. To conform more to real life, this paper considers a bi-level decision where a vendor or a buyer takes the...

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Vydané v:	Applied mathematics and computation Ročník 219; číslo 18; s. 9670 - 9680
Hlavní autori:	Wee, H.M., Lee, M.C., Yang, P.C., Chung, R.L.
Médium:	Journal Article
Jazyk:	English
Vydavateľské údaje:	Elsevier Inc 15.05.2013
Predmet:	Density information Elitist genetic algorithm Nonlinear bi-level programming Supply chain system Time-varying pricing Nonlinear bi-level programming Elitist genetic algorithm Time-varying pricing Supply chain system Density information
ISSN:	0096-3003, 1873-5649
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Popis
Shrnutí:	In recent years, two-echelon inventory system has been widely studied by many researchers. Most researches focused on joint integrated model, and very few have applied the bi-level strategies. To conform more to real life, this paper considers a bi-level decision where a vendor or a buyer takes the role of a leader or a follower. We present a bi-level programming formulation for a time-varying product price. A bi-level elitist genetic algorithm is presented to solve the proposed nonlinear bi-level programming problem. Density information is coordinated in the proposed approach to improve the optimal solutions. An experimental data is used to compare the bi-level strategy with the integrated approach.
ISSN:	0096-3003 1873-5649
DOI:	10.1016/j.amc.2013.03.003