Title :
The research of procurement strategies for the Chinese herbal medicine enterprise
Author :
Hu, Xiao ; Ding, Wen-ying
Author_Institution :
Sch. of Mech. Eng., Univ. of Sci. & Technol. Beijing, Beijing, China
Abstract :
This article is concerned about the problem of material procurement which exists in many Chinese herbal medicine enterprises. Based on the characteristics of some Chinese enterprises, a model of purchasing raw materials with the aim to have the lowest cost is established for an enterprise and it is solved by using LINGO. The computational results show the model can be used for the enterprise to make certain period of the procurement plan.
Keywords :
medicine; pharmaceutical industry; procurement; purchasing; raw materials; strategic planning; Chinese herbal medicine enterprise; material procurement; procurement plan; procurement strategy; raw material purchasing model; Logistics; Chinese herbal medicine enterprise; low cost; procurement; supply chain;
Conference_Titel :
Industrial Engineering and Engineering Management (IE&EM), 2010 IEEE 17Th International Conference on
Conference_Location :
Xiamen
Print_ISBN :
978-1-4244-6483-8
DOI :
10.1109/ICIEEM.2010.5646021
