The main purpose of this paper is to generalize the effect of two-phased demand and variable deterioration within the EOQ (Economic Order Quantity) framework. The rate of deterioration is a linear function of time. Th...The main purpose of this paper is to generalize the effect of two-phased demand and variable deterioration within the EOQ (Economic Order Quantity) framework. The rate of deterioration is a linear function of time. The two-phased demand function states the constant function for a certain period and the quadratic function of time for the rest part of the cycle time. No shortages as well as partial backlogging are allowed to occur. The mathematical expressions are derived for determining the optimal cycle time, order quantity and total cost function. An easy-to-use working procedure is provided to calculate the above quantities. A couple of numerical examples are cited to explain the theoretical results and sensitivity analysis of some selected examples is carried out.展开更多
In recent times, mathematical models have been developed to describe various scenarios obtainable in the management of inventories. These models usually have as objective the minimizing of inventory costs. In this res...In recent times, mathematical models have been developed to describe various scenarios obtainable in the management of inventories. These models usually have as objective the minimizing of inventory costs. In this research work we propose a mathematical model of an inventory system with time-dependent three-parameter Weibull deterioration and a stochastic type demand in the form of a negative exponential distribution. Explicit expressions for the optimal values of the decision variables are obtained. Numerical examples are provided to illustrate the theoretical development.展开更多
In this paper, we propose a deteriorating items inventory model with constant demand and deterioration rates, and mixed cargo transportation modes. The transportation modes are full container load (FCL) and less than ...In this paper, we propose a deteriorating items inventory model with constant demand and deterioration rates, and mixed cargo transportation modes. The transportation modes are full container load (FCL) and less than container load (LCL). Deteriorating items, such as specialty gases which are applied in semiconductor fabrication, deteriorate owing to environmental variation. Exact algorithms are proposed to determine the optimal inventory policies over a finite and an infinite planning horizon. Numerical examples are given to illustrate the proposed solution procedures. In addition, when the deterioration rate is large, the results of the proposed model perform better compared to the inventory model proposed by Rieksts and Ventura (2008).展开更多
This paper considers a deteriorated multi-item economic order quantity (EOQ) problem, which has been studied in literature, but the algorithms used in the literature are limited. In this paper, we explore the optimal ...This paper considers a deteriorated multi-item economic order quantity (EOQ) problem, which has been studied in literature, but the algorithms used in the literature are limited. In this paper, we explore the optimal policy of this inventory problem by analyzing the structural properties of the model, and introduce a simple algorithm for generating the optimal solution to this problem. Numerical results are reported to show effi-cacy of the proposed method.展开更多
This paper proposes a dynamic advertising model for deteriorating items, and the demand is influenced by goodwill and inventory level. The goodwill affected by advertising effort has a positive effect on demand while ...This paper proposes a dynamic advertising model for deteriorating items, and the demand is influenced by goodwill and inventory level. The goodwill affected by advertising effort has a positive effect on demand while the inventory level has a negative effect on demand, which is named as inverse inventory sensitive demand effect. We assume that the deteriorating rate could be influenced by the inventory level and we determine the deteriorating rate formulation based on this assumption. The optimal advertising effort and inventory level are obtained by solving the optimization problem based on Pontryagin＇s maximum principle. Furthermore, numerical studies are provided and some managerial insights are presented.展开更多
In this paper, we consider the general inventory problem for deteriorating items having time-varying demand and shortages. An optimal order policy is obtained for determining the number of reorders and the time of the...In this paper, we consider the general inventory problem for deteriorating items having time-varying demand and shortages. An optimal order policy is obtained for determining the number of reorders and the time of the reorder points and shortage points in order to minimize the total cost of system. Several fundamental theoretical results are established for this model. The corresponding cases for no-deterioration and no-shortage is also discussed. To illustrate the solution procedure,numerical examples are shown for the special case of linear increasing demand.展开更多
It’s often the case that the supplier will provide the retailer with a permissible delay period in payments, during which the supplier charges the retailer no interest and the retailer accumulates interest earned fro...It’s often the case that the supplier will provide the retailer with a permissible delay period in payments, during which the supplier charges the retailer no interest and the retailer accumulates interest earned from investment return. As a type of price reduction and an alternative to price discount,trade credit helps the supplier encourage the retailer’s ordering. This paper develops an inventory replenishment model for a deteriorating item with time-varying demand and shortages, taking account of trade credit and time value of money under inflation over a finite time horizon. This model is an extension and development of the existing studies related to the inventory system considering trade credit and time value of money and offers a more general model with more flexibility and resilience to handle the situation where demand of the end market is non-decreasing with regard to time.展开更多
Sustainable integrated inventory management policy focuses on reducing the environmental impact of the manufacturing and transport sector.This study develops an integrated single-manufacturer single-buyer inventory mo...Sustainable integrated inventory management policy focuses on reducing the environmental impact of the manufacturing and transport sector.This study develops an integrated single-manufacturer single-buyer inventory model for substitutable deteriorating items considering transport and industry carbon emissions.This article categorizes carbon emissions into two parts:direct and indirect emissions.We also assume two mutually substitutable items,and substitution is considered on the buyer's side.If one of the items is out of stock,the demand for that item can be partially satisfied by the stock of the other item;else,demand will be lost.The purpose of this study is to minimize the integrated cost of the supply chain with total carbon emissions produced by industry and transport sectors and to determine the optimal number of deliveries,order level and carbon emission quantity.A solution procedure is developed to find the optimal values of the policy.Numerical experiments and sensitivity analyses are presented to demonstrate the proposed model.展开更多
文摘The main purpose of this paper is to generalize the effect of two-phased demand and variable deterioration within the EOQ (Economic Order Quantity) framework. The rate of deterioration is a linear function of time. The two-phased demand function states the constant function for a certain period and the quadratic function of time for the rest part of the cycle time. No shortages as well as partial backlogging are allowed to occur. The mathematical expressions are derived for determining the optimal cycle time, order quantity and total cost function. An easy-to-use working procedure is provided to calculate the above quantities. A couple of numerical examples are cited to explain the theoretical results and sensitivity analysis of some selected examples is carried out.
文摘In recent times, mathematical models have been developed to describe various scenarios obtainable in the management of inventories. These models usually have as objective the minimizing of inventory costs. In this research work we propose a mathematical model of an inventory system with time-dependent three-parameter Weibull deterioration and a stochastic type demand in the form of a negative exponential distribution. Explicit expressions for the optimal values of the decision variables are obtained. Numerical examples are provided to illustrate the theoretical development.
文摘In this paper, we propose a deteriorating items inventory model with constant demand and deterioration rates, and mixed cargo transportation modes. The transportation modes are full container load (FCL) and less than container load (LCL). Deteriorating items, such as specialty gases which are applied in semiconductor fabrication, deteriorate owing to environmental variation. Exact algorithms are proposed to determine the optimal inventory policies over a finite and an infinite planning horizon. Numerical examples are given to illustrate the proposed solution procedures. In addition, when the deterioration rate is large, the results of the proposed model perform better compared to the inventory model proposed by Rieksts and Ventura (2008).
文摘This paper considers a deteriorated multi-item economic order quantity (EOQ) problem, which has been studied in literature, but the algorithms used in the literature are limited. In this paper, we explore the optimal policy of this inventory problem by analyzing the structural properties of the model, and introduce a simple algorithm for generating the optimal solution to this problem. Numerical results are reported to show effi-cacy of the proposed method.
文摘This paper proposes a dynamic advertising model for deteriorating items, and the demand is influenced by goodwill and inventory level. The goodwill affected by advertising effort has a positive effect on demand while the inventory level has a negative effect on demand, which is named as inverse inventory sensitive demand effect. We assume that the deteriorating rate could be influenced by the inventory level and we determine the deteriorating rate formulation based on this assumption. The optimal advertising effort and inventory level are obtained by solving the optimization problem based on Pontryagin＇s maximum principle. Furthermore, numerical studies are provided and some managerial insights are presented.
文摘In this paper, we consider the general inventory problem for deteriorating items having time-varying demand and shortages. An optimal order policy is obtained for determining the number of reorders and the time of the reorder points and shortage points in order to minimize the total cost of system. Several fundamental theoretical results are established for this model. The corresponding cases for no-deterioration and no-shortage is also discussed. To illustrate the solution procedure,numerical examples are shown for the special case of linear increasing demand.
文摘It’s often the case that the supplier will provide the retailer with a permissible delay period in payments, during which the supplier charges the retailer no interest and the retailer accumulates interest earned from investment return. As a type of price reduction and an alternative to price discount,trade credit helps the supplier encourage the retailer’s ordering. This paper develops an inventory replenishment model for a deteriorating item with time-varying demand and shortages, taking account of trade credit and time value of money under inflation over a finite time horizon. This model is an extension and development of the existing studies related to the inventory system considering trade credit and time value of money and offers a more general model with more flexibility and resilience to handle the situation where demand of the end market is non-decreasing with regard to time.
文摘Sustainable integrated inventory management policy focuses on reducing the environmental impact of the manufacturing and transport sector.This study develops an integrated single-manufacturer single-buyer inventory model for substitutable deteriorating items considering transport and industry carbon emissions.This article categorizes carbon emissions into two parts:direct and indirect emissions.We also assume two mutually substitutable items,and substitution is considered on the buyer's side.If one of the items is out of stock,the demand for that item can be partially satisfied by the stock of the other item;else,demand will be lost.The purpose of this study is to minimize the integrated cost of the supply chain with total carbon emissions produced by industry and transport sectors and to determine the optimal number of deliveries,order level and carbon emission quantity.A solution procedure is developed to find the optimal values of the policy.Numerical experiments and sensitivity analyses are presented to demonstrate the proposed model.
