An Optimal Solution for Integrated Inventory Model with Deteriorating Items

Tan, Wei Sheng (2019) An Optimal Solution for Integrated Inventory Model with Deteriorating Items. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

This study develops an integrated inventory model for deteriorating items under supply chain environment. The proposed model will derive an optimal supply chain decision from different perspective such as supplier and buyer with the purpose of minimizing the overall cost of the system. Microsoft ®Excel is used to derive the optimal solution and the numerical example are also presented to illustrate the significance of the model. This report shows that under a deterministic demand for a single buyer and single supplier, both of the parties can be economically beneficial if they adopted the integrated approach strategy.