A Stackelberg game model for optimizing price, service level and inventory decisions in Vendor Managed Inventory system

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KARIMI MARZIEH; KHADEMI ZARE HASAN; ZARE MEHRJERDI YAHIA; FAKHRZAD MOHAMMAD BAGHER

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Paper Information

Journal: JOURNAL OF INDUSTRIAL AND SYSTEMS ENGINEERING Year:2020 | Volume:13 | Issue:Special issue: 17th International Industrial Engineering Conference Page(s): 21-29

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Title

A Stackelberg game model for optimizing price, service level and inventory decisions in Vendor Managed Inventory system

Author(s)

KARIMI MARZIEH | KHADEMI ZARE HASAN | ZARE MEHRJERDI YAHIA | FAKHRZAD MOHAMMAD BAGHER | Issue Writer Certificate

Keywords

Supply chain management

Vendor Managed Inventory (VMI)

Stackelberg game

price

service level

Abstract

Vendor management inventory (VMI), as one of the inventory management methods, reduces the cost of inventory in the chain, quick response to customers, increased service level, customer satisfaction, and improve collaboration between the members of the supply chain. In this study, a bi-level supply chain model with one manufacturer and one retailer under a vendor management inventory policy is investigated. The manufacturer produces a single product by the production capacity constraint at wholesale price and delivers the product to the retailer who then sells the product in the dispread market at retail price. The demand rate for the product in the retailer market is assumed to be a decreasing function of the price and an increasing function of the service level. The manufacturer determines its wholesale price, product’ s replenishment cycle time, and backorder quantity to maximize its profit. Retailer determines the optimal retail price and service level to maximize its profit. This problem formulated as a Stackelberg game model with consideration manufacture as a leader and retailer as a follower. To search the Stackelberg game equilibrium, a solution algorithm has been proposed. A numerical study has been conducted to demonstrate how the algorithm works and to understand the influences of decision variables and parameters. Also, in order to validate the proposed model, sensitivity analysis has been performed on some parameters.

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APA: Copy

KARIMI, MARZIEH, KHADEMI ZARE, HASAN, ZARE MEHRJERDI, YAHIA, & FAKHRZAD, MOHAMMAD BAGHER. (2020). A Stackelberg game model for optimizing price, service level and inventory decisions in Vendor Managed Inventory system. JOURNAL OF INDUSTRIAL AND SYSTEMS ENGINEERING (JISE), 13(Special issue: 17th International Industrial Engineering Conference), 21-29. SID. https://sid.ir/paper/978010/en

Vancouver: Copy

KARIMI MARZIEH, KHADEMI ZARE HASAN, ZARE MEHRJERDI YAHIA, FAKHRZAD MOHAMMAD BAGHER. A Stackelberg game model for optimizing price, service level and inventory decisions in Vendor Managed Inventory system. JOURNAL OF INDUSTRIAL AND SYSTEMS ENGINEERING (JISE)[Internet]. 2020;13(Special issue: 17th International Industrial Engineering Conference):21-29. Available from: https://sid.ir/paper/978010/en

IEEE: Copy

MARZIEH KARIMI, HASAN KHADEMI ZARE, YAHIA ZARE MEHRJERDI, and MOHAMMAD BAGHER FAKHRZAD, “A Stackelberg game model for optimizing price, service level and inventory decisions in Vendor Managed Inventory system,” JOURNAL OF INDUSTRIAL AND SYSTEMS ENGINEERING (JISE), vol. 13, no. Special issue: 17th International Industrial Engineering Conference, pp. 21–29, 2020, [Online]. Available: https://sid.ir/paper/978010/en

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