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Sustainability 2016, 8(12), 1244; doi:10.3390/su8121244

A Stackelberg Game Approach in an Integrated Inventory Model with Carbon-Emission and Setup Cost Reduction

1
Department of Industrial & Management Engineering, Hanyang University, Ansan Gyeonggi-do 15588, Korea
2
Department of Applied Mathematics with Oceanology and Computer Programming, Vidyasagar University, Midnapore 721 102, India
3
Department of Business Administration, College of Business and Economics, Chung-Ang University, Seoul 06974, Korea
*
Author to whom correspondence should be addressed.
Academic Editor: Marc A. Rosen
Received: 5 September 2016 / Revised: 11 November 2016 / Accepted: 22 November 2016 / Published: 2 December 2016
View Full-Text   |   Download PDF [1284 KB, uploaded 2 December 2016]   |  

Abstract

This paper formulates an integrated inventory model that allows Stackelberg game policy for optimizing joint total cost of a vendor and buyer system. After receiving the lot, the buyer commences an inspection process to determine the defective items. All defective items the buyer sends to vendor during the receiving of the next lot. Due to increasing number of shipments fixed and variable transportation, as well as carbon emissions, are considered, which makes the model sustainable integrated model forever. To reduce the setup cost for the vendor, a discrete setup reduction is considered for maximization more profit. The players of the integrated model are with unequal power (as leader and follower) and the Stackelberg game strategy is utilized to solve this model for obtaining global optimum solution over the finite planning horizon. An illustrative numerical example is given to understand this model clearly. View Full-Text
Keywords: integrated-inventory model; stackelberg approach; setup cost reduction; transportation cost; carbon emission reduction integrated-inventory model; stackelberg approach; setup cost reduction; transportation cost; carbon emission reduction
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Sarkar, B.; Saren, S.; Sarkar, M.; Seo, Y.W. A Stackelberg Game Approach in an Integrated Inventory Model with Carbon-Emission and Setup Cost Reduction. Sustainability 2016, 8, 1244.

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