In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online alg...In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online algorithm based on cost function.The competitive ratio of the online algorithm is given for each variant,which is a performance measure of an online algorithm.More importantly,we show that the online algorithm is optimal.展开更多
In this present paper, an inventory model with a generalised exponential decreasing demand is considered. A numerical example is used to illustrate the application of the model. Sensitivity analysis of the optimal sol...In this present paper, an inventory model with a generalised exponential decreasing demand is considered. A numerical example is used to illustrate the application of the model. Sensitivity analysis of the optimal solution with respect to various parameters is carried out to see the effect of parameter changes on the solution.展开更多
In the present paper, a total optimal cost of an inventory model with exponential declining demand and constant deterioration is considered. The time-varying holding cost is a linear function of time. Shortages are no...In the present paper, a total optimal cost of an inventory model with exponential declining demand and constant deterioration is considered. The time-varying holding cost is a linear function of time. Shortages are not allowed. The items (like food grains, fashion apparels and electronic equipments) have fixed shelf-life which decreases with time during the end of the season. A numerical example is presented to demonstrate the model and the sensitivity analysis of various parameters is carried out.展开更多
This study presents an inventory model for imperfect products with depletion in ordering costs and constant lead time where the price discount in the backorder is permitted.The imperfect products are refused or modifi...This study presents an inventory model for imperfect products with depletion in ordering costs and constant lead time where the price discount in the backorder is permitted.The imperfect products are refused or modified or if they reached to the customer,returned and thus some extra costs are experienced.Lately some of the researchers explicitly present on the significant association between size of lot and quality imperfection.In practical situations,the unsatisfied demands increase the period of lead time and decrease the backorders.To control customers'problems and losses,the supplier provides a price discount in backorders during shortages.Also,an order’s policies may result in including some imperfect products in arrival lots.A discount on price may be offered by the supplier on the out-of-stock products to manage the backorder problems.The study aims to develop a model with imperfect products by permitting the price discount in backorders,and the cost of ordering is considered a decision variable.First,it is assumed that the demand for lead time is followed by a normal distribution and then stops it and assumed that the first two moments of demand for lead time are known.Further,the minimax distribution method is used to solve this model,and a separate algorithm is designed.In this study,two models are discussed with and without a normally distributed rate of demand.The current study verified with the help of some numerical examples over various model parameters.展开更多
Traditional inventory control methods generally emphasize minimizing costs. Under current thinking, we not only consider cost control, but also tie inventory management directly into production scheduling. This system...Traditional inventory control methods generally emphasize minimizing costs. Under current thinking, we not only consider cost control, but also tie inventory management directly into production scheduling. This system, called ＂Just-in-Time delivery＂, is based on having inventory arrive at the factory door just as it is needed on the assembly line. This inventory management technique of essential zero raw material inventory speeds inventory turnover rate and greatly reduces holding cost. This paper analyzes and compares all aspects related to both traditional and JIT systems, and explores ways of reducing inventory costs. The result is the elimination of waste, the speed-up of inventory turnover and the increase in productivity, all with the objective of maximizing profitability. Using advanced logistics （physical distribution methods） will enhance the business image, strengthen international competitive ability and contribute greatly to increase gross domestic product.展开更多
The collector managed inventory(CMI)management idea is introduced based on the comparison of manufacturer and third-party logistics(3PL)implementing vendor managed inventory(VMI)services.Considering recovery costs,the...The collector managed inventory(CMI)management idea is introduced based on the comparison of manufacturer and third-party logistics(3PL)implementing vendor managed inventory(VMI)services.Considering recovery costs,the service pricing strategies for 3PL corporations implementing VMI are studied to meet two conditions of participation constraints and incentive-compatibility constraints.The numerical simulation results indicate that the supply chain partners' profits change after considering recovery costs,and the 3PL corporation's profits and the total profits increase first,and then decrease.The retailers' and manufacturers' profits also increase.The total profits of the supply chain have a characteristic of increasing first and then decreasing with the increase of the callback ratio of unsold products.The concrete extremum point is codetermined by price flexibility,service pricing of the 3PL corporation,callback price and callback ratio.展开更多
Background： We explore the factors affecting the optimal plot design （size and type as well as the subsample tree selection strategies within a plot） and their relative importance in defining the optimal plot desig...Background： We explore the factors affecting the optimal plot design （size and type as well as the subsample tree selection strategies within a plot） and their relative importance in defining the optimal plot design in amultipurpose forest inventory. The factors include time used to lay out the plot and to make the tree measurements within the plot, the between-plot variation of each of the variables of interest in the area, and the measurement and model errors for the different variables. Methods： We simulate different plot types and sizes and subsample tree selection strategies on measuredtest areas from North Lapland. The plot types used are fixed-radius, concentric and relascope plots. Weselect the optimal type and size first at plot level using a cost-plus-loss approach and then at cluster level byminimizing the weighted standard error with fixed budget. Results： As relascope plots are ve~/efficient at the plot level for volume and basal area, and fixed-radius plots for stems per ha, the optimal plot type strongly depends on the relative importance of these variables. The concentric plot seems to be a good compromise between these two in many cases. The subsample tree selection strategy was more important in selecting optimal plot than many other factors. In cluster level, the most important factor is the transfer time between plots. Conclusions： While the optimal radius of plots and other parameters were sensitive to the measurement times and other cost factors, the concentric plot type was optimal in almost all studied cases. Subsample tree measurement strategies need further studies, as they were an important cost factor. However, their importance to the precision was not as clear.展开更多
Electricity consumption increases rapidly with the rapid development of China. The environmental damage costs of electricity generation are very important for both policy analysis and the proper management of the envi...Electricity consumption increases rapidly with the rapid development of China. The environmental damage costs of electricity generation are very important for both policy analysis and the proper management of the environment. A method was developed in this work to estimate gross environmental damage costs according to emission inventory and environmental cost factors, and to extend the costs from provincial to national level with population density. In this paper, sulfur dioxide (SO2), nitrogen oxides (NOx), particulate matter less than 10 μm in diameter (PM10), and carbon dioxide (CO2) from fossil fired power plants over 6000 kW were selected as index pollutants to quantify the environmental costs of damages on human health and global warming. With the new developed method, environmental damage costs, caused by 3 types of fired power plants in 30 provinces and 6 economic sectors during the years 2000 to 2003, were evaluated and analyzed. It can be seen that the calculated total national environmental damage costs of electricity have rapidly increased from 94930.87×106 USD in 2000 to about 141041.39×106 USD in 2003, with an average annual growth rate of 14.11%. Environmental damage costs of SO2, NOx, PM10, and CO2 are 69475.69×106, 30079.29×106, 28931.84×106, and 12554.57×106 USD and account for 49.26%, 21.33%, 20.51%, and 8.90% of total environmental costs in fossil electricity generation, respectively. With regard to regional distribution, external costs caused by fossil electricity generation are mainly concentrated in the more populated and industrialized areas of China, i.e., the Eastern Central and Southeastern areas.展开更多
The incentive effects and dynamic aspects of the inventory system were discussed in this paper. The wage policy was regarded as a factor to influence workers' thinking of their action. A multiple objective problem...The incentive effects and dynamic aspects of the inventory system were discussed in this paper. The wage policy was regarded as a factor to influence workers' thinking of their action. A multiple objective problem was constructed for the owners and the workers. At the same time, the planning stability is considered in the presented model. Since the process speed is decided by the dynamic demand of production or the interior system itself, two situations were discussed in this paper.展开更多
Cutting tool management in manufacturing firms constitutes an essential element in production cost optimization. In order to optimize the cutting tool stock level while concurrently minimizing production costs, a cost...Cutting tool management in manufacturing firms constitutes an essential element in production cost optimization. In order to optimize the cutting tool stock level while concurrently minimizing production costs, a cost optimization model which considers machining parameters is required. This inclusive modeling consideration is a major step towards achieving effectiveness of cutting tool management policy in manufacturing systems with stochastic driven policies for tool demand. This paper presents a cost optimization model for cutting tools whose utilization level is assumed to be optimized in respect of the machining parameters. The proposed cost model in this research incorporated the effects of diversified machining costs ranging from operational through machining, shortage, holding, material and ordering costs. The machining of parts was assumed to be a single cutting operation. Holt-Winters forecasting technique was used to create a stochastic demand dataset for a test scenario in the production of a high-end automotive part. Some numerical examples used to validate the developed model were implemented to illustrate the optimal machining and tool inventory conditions. Furthermore, a sensitivity analysis was carried out to study the influence of varying production parameters such as: machine uptime, demand and cutting parameters on the overall production cost. The results showed that a desired low level of tool storage and holding costs were obtained at the optimal stock levels. The machining uptime had a significant influence on the total cost while tool life and cutting feed rate were both identified as the most influential cutting variables on the total cost. Furthermore, the cutting speed rate had a marginal effect on both costs and tool life. Other cost variables such as shortage and tool costs had significantly low effect on the overall cost. The output trend showed that the feed rate is the most significant cutting parameter in the machining operation, hence influencing the cost the most. Also, machine uptime and demand significantly influenced the total production cost.展开更多
基金Supported by the Natural Science Foundation of China(11201428,11471286,11701518)the Natural Science Foundation of Zhejiang Province(Y6110091)the Graduate Innovation Project of Zhejiang Sci-Tech University(YCX12001,YCX13005)
文摘In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online algorithm based on cost function.The competitive ratio of the online algorithm is given for each variant,which is a performance measure of an online algorithm.More importantly,we show that the online algorithm is optimal.
文摘In this present paper, an inventory model with a generalised exponential decreasing demand is considered. A numerical example is used to illustrate the application of the model. Sensitivity analysis of the optimal solution with respect to various parameters is carried out to see the effect of parameter changes on the solution.
文摘In the present paper, a total optimal cost of an inventory model with exponential declining demand and constant deterioration is considered. The time-varying holding cost is a linear function of time. Shortages are not allowed. The items (like food grains, fashion apparels and electronic equipments) have fixed shelf-life which decreases with time during the end of the season. A numerical example is presented to demonstrate the model and the sensitivity analysis of various parameters is carried out.
基金The Graphic Era Hill University Dehradun supported the research of the Sandeep Kumar and Teekam Singh.The corresponding and the third authors thank Prince Sultan University for the financial support.
文摘This study presents an inventory model for imperfect products with depletion in ordering costs and constant lead time where the price discount in the backorder is permitted.The imperfect products are refused or modified or if they reached to the customer,returned and thus some extra costs are experienced.Lately some of the researchers explicitly present on the significant association between size of lot and quality imperfection.In practical situations,the unsatisfied demands increase the period of lead time and decrease the backorders.To control customers'problems and losses,the supplier provides a price discount in backorders during shortages.Also,an order’s policies may result in including some imperfect products in arrival lots.A discount on price may be offered by the supplier on the out-of-stock products to manage the backorder problems.The study aims to develop a model with imperfect products by permitting the price discount in backorders,and the cost of ordering is considered a decision variable.First,it is assumed that the demand for lead time is followed by a normal distribution and then stops it and assumed that the first two moments of demand for lead time are known.Further,the minimax distribution method is used to solve this model,and a separate algorithm is designed.In this study,two models are discussed with and without a normally distributed rate of demand.The current study verified with the help of some numerical examples over various model parameters.
文摘Traditional inventory control methods generally emphasize minimizing costs. Under current thinking, we not only consider cost control, but also tie inventory management directly into production scheduling. This system, called ＂Just-in-Time delivery＂, is based on having inventory arrive at the factory door just as it is needed on the assembly line. This inventory management technique of essential zero raw material inventory speeds inventory turnover rate and greatly reduces holding cost. This paper analyzes and compares all aspects related to both traditional and JIT systems, and explores ways of reducing inventory costs. The result is the elimination of waste, the speed-up of inventory turnover and the increase in productivity, all with the objective of maximizing profitability. Using advanced logistics （physical distribution methods） will enhance the business image, strengthen international competitive ability and contribute greatly to increase gross domestic product.
基金The National Key Technology R&D Program of China during the11th Five-Year Plan Period(No.2006BAH02A06).
文摘The collector managed inventory(CMI)management idea is introduced based on the comparison of manufacturer and third-party logistics(3PL)implementing vendor managed inventory(VMI)services.Considering recovery costs,the service pricing strategies for 3PL corporations implementing VMI are studied to meet two conditions of participation constraints and incentive-compatibility constraints.The numerical simulation results indicate that the supply chain partners' profits change after considering recovery costs,and the 3PL corporation's profits and the total profits increase first,and then decrease.The retailers' and manufacturers' profits also increase.The total profits of the supply chain have a characteristic of increasing first and then decreasing with the increase of the callback ratio of unsold products.The concrete extremum point is codetermined by price flexibility,service pricing of the 3PL corporation,callback price and callback ratio.
文摘Background： We explore the factors affecting the optimal plot design （size and type as well as the subsample tree selection strategies within a plot） and their relative importance in defining the optimal plot design in amultipurpose forest inventory. The factors include time used to lay out the plot and to make the tree measurements within the plot, the between-plot variation of each of the variables of interest in the area, and the measurement and model errors for the different variables. Methods： We simulate different plot types and sizes and subsample tree selection strategies on measuredtest areas from North Lapland. The plot types used are fixed-radius, concentric and relascope plots. Weselect the optimal type and size first at plot level using a cost-plus-loss approach and then at cluster level byminimizing the weighted standard error with fixed budget. Results： As relascope plots are ve~/efficient at the plot level for volume and basal area, and fixed-radius plots for stems per ha, the optimal plot type strongly depends on the relative importance of these variables. The concentric plot seems to be a good compromise between these two in many cases. The subsample tree selection strategy was more important in selecting optimal plot than many other factors. In cluster level, the most important factor is the transfer time between plots. Conclusions： While the optimal radius of plots and other parameters were sensitive to the measurement times and other cost factors, the concentric plot type was optimal in almost all studied cases. Subsample tree measurement strategies need further studies, as they were an important cost factor. However, their importance to the precision was not as clear.
基金Project (No. 056846) supported by the National Development and Reform Commission of China (NDRC)
文摘Electricity consumption increases rapidly with the rapid development of China. The environmental damage costs of electricity generation are very important for both policy analysis and the proper management of the environment. A method was developed in this work to estimate gross environmental damage costs according to emission inventory and environmental cost factors, and to extend the costs from provincial to national level with population density. In this paper, sulfur dioxide (SO2), nitrogen oxides (NOx), particulate matter less than 10 μm in diameter (PM10), and carbon dioxide (CO2) from fossil fired power plants over 6000 kW were selected as index pollutants to quantify the environmental costs of damages on human health and global warming. With the new developed method, environmental damage costs, caused by 3 types of fired power plants in 30 provinces and 6 economic sectors during the years 2000 to 2003, were evaluated and analyzed. It can be seen that the calculated total national environmental damage costs of electricity have rapidly increased from 94930.87×106 USD in 2000 to about 141041.39×106 USD in 2003, with an average annual growth rate of 14.11%. Environmental damage costs of SO2, NOx, PM10, and CO2 are 69475.69×106, 30079.29×106, 28931.84×106, and 12554.57×106 USD and account for 49.26%, 21.33%, 20.51%, and 8.90% of total environmental costs in fossil electricity generation, respectively. With regard to regional distribution, external costs caused by fossil electricity generation are mainly concentrated in the more populated and industrialized areas of China, i.e., the Eastern Central and Southeastern areas.
文摘The incentive effects and dynamic aspects of the inventory system were discussed in this paper. The wage policy was regarded as a factor to influence workers' thinking of their action. A multiple objective problem was constructed for the owners and the workers. At the same time, the planning stability is considered in the presented model. Since the process speed is decided by the dynamic demand of production or the interior system itself, two situations were discussed in this paper.
文摘Cutting tool management in manufacturing firms constitutes an essential element in production cost optimization. In order to optimize the cutting tool stock level while concurrently minimizing production costs, a cost optimization model which considers machining parameters is required. This inclusive modeling consideration is a major step towards achieving effectiveness of cutting tool management policy in manufacturing systems with stochastic driven policies for tool demand. This paper presents a cost optimization model for cutting tools whose utilization level is assumed to be optimized in respect of the machining parameters. The proposed cost model in this research incorporated the effects of diversified machining costs ranging from operational through machining, shortage, holding, material and ordering costs. The machining of parts was assumed to be a single cutting operation. Holt-Winters forecasting technique was used to create a stochastic demand dataset for a test scenario in the production of a high-end automotive part. Some numerical examples used to validate the developed model were implemented to illustrate the optimal machining and tool inventory conditions. Furthermore, a sensitivity analysis was carried out to study the influence of varying production parameters such as: machine uptime, demand and cutting parameters on the overall production cost. The results showed that a desired low level of tool storage and holding costs were obtained at the optimal stock levels. The machining uptime had a significant influence on the total cost while tool life and cutting feed rate were both identified as the most influential cutting variables on the total cost. Furthermore, the cutting speed rate had a marginal effect on both costs and tool life. Other cost variables such as shortage and tool costs had significantly low effect on the overall cost. The output trend showed that the feed rate is the most significant cutting parameter in the machining operation, hence influencing the cost the most. Also, machine uptime and demand significantly influenced the total production cost.
