Top

Journal of Business Economics

Published in:

01-10-2014 | Original Paper

Centralized inventory in a farming community

Authors: M. G. Fiestras-Janeiro, I. García-Jurado, A. Meca, M. A. Mosquera

Published in: Journal of Business Economics | Issue 7/2014

Activate our intelligent search to find suitable subject content or patents.

search-config

AI-assisted search

Off

Abstract

A centralized inventory problem is a situation in which several agents face individual inventory problems and make an agreement to coordinate their orders with the objective of reducing costs. In this paper we identify a centralized inventory problem arising in a farming community in northwestern Spain, model the problem using two alternative approaches, find the optimal inventory policies for both models, and propose allocation rules for sharing the optimal costs in this context.

previous article The influence of mutations: an evolutionary inspection game with three strategic actors

next article A coordination mechanism with fair cost allocation for divergent multi-echelon inventory systems

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Journal of Business Economics

From January 2013, the Zeitschrift für Betriebswirtschaft (ZfB) is published in English under the title Journal of Business Economics (JBE). The Journal of Business Economics (JBE) aims at encouraging theoretical and applied research in the field of business economics and business administration, promoting the exchange of ideas between science and practice.

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Available only for authorised users

In this paper we assume that the waiting time since an order is posed until it is received is deterministic, in which case it can be assumed to be zero. The deterministic nature of waiting times in this problem is realistic. In principle, the supplier guarantees to serve the orders the next day after they are posed.

Dror M, Hartman BC (2011) Survey of cooperative inventory games and extensions. J Oper Res Soc 62:565–580CrossRef

Fiestras-Janeiro MG, García-Jurado I, Meca A, Mosquera MA (2012a) Cooperative game theory and inventory management. Eur J Oper Res 210:459–466CrossRef

Fiestras-Janeiro MG, García-Jurado I, Meca A, Mosquera MA (2012b) Cost allocation in inventory transportation systems. Top 20:397–410CrossRef

Fiestras-Janeiro MG, García-Jurado I, Mosquera MA (2011) Cooperative games and cost allocation problems. Top 19:1–22CrossRef

González-Díaz J, García-Jurado I, Fiestras-Janeiro MG (2010) An introductory course on mathematical game theory. Graduate Studies in Mathematics, vol 115. American Mathematical Society

Guardiola LA, Meca A, Puerto J (2009) Production-inventory games: a new class of totally balanced combinatorial optimization games. Games Econ Behav 65:205–219CrossRef

Hartman BC, Dror M (1996) Cost allocation in continuous review inventory models. Naval Res Logist 43:549–561CrossRef

Hartman BC, Dror M, Shaked M (2000) Cores of inventory centralization games. Games Econ Behav 31:26–49CrossRef

Littlechild SC, Owen G (1973) A simple expression for the Shapley value in a special case. Manag Sci 20:370–372CrossRef

Meca A, García-Jurado I, Borm P (2003) Cooperation and competition in inventory games. Math Methods Oper Res 57:481–493

Moretti S, Patrone F (2008) Transversality of the Shapley value. Top 16:1–41CrossRef

Nagarajan M, So\(\breve{\rm s}\)ić G (2008) Game-theoretic analysis of cooperation among supply chain agents: review and extensions. Eur J Oper Res 187:719–745

Shapley LS (1953) A value for n-person games. In: H Kuhn, A Tucker (ads) Contributions to the Theory of Games II. Princeton University Press, Princeton

van den Heuvel W, Borm P, Hamers H (2007) Economic lot-sizing games. Eur J Oper Res 176:1117–1130CrossRef

Title: Centralized inventory in a farming community
Authors: M. G. Fiestras-Janeiro
I. García-Jurado
A. Meca
M. A. Mosquera
Publication date: 01-10-2014
Publisher: Springer Berlin Heidelberg
Published in: Journal of Business Economics / Issue 7/2014
Print ISSN: 0044-2372
Electronic ISSN: 1861-8928
DOI: https://doi.org/10.1007/s11573-014-0710-z

Springer Professional

Abstract

Please log in to get access to your license.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Journal of Business Economics

Springer Professional "Wirtschaft"

Other articles of this Issue 7/2014

A coordination mechanism with fair cost allocation for divergent multi-echelon inventory systems

Editorial

The influence of mutations: an evolutionary inspection game with three strategic actors

Honesty in intra-organizational reporting

Corporate social responsibility: a strategic and profitable response to entry?

Premium Partner