This paper develops an economic production quantity(EPQ)model under the effect of inflation and time value of money.The rate of replenishment is considered to be a variable and the generalized unit production cost fun...This paper develops an economic production quantity(EPQ)model under the effect of inflation and time value of money.The rate of replenishment is considered to be a variable and the generalized unit production cost function is formulated by incorporating several factors,such as raw material,labour,replenishment rate,advertisements and other factors of the manufacturing system.The selling price of a unit is determined by a mark-up over the production cost.We have considered three types of continuous probabilistic deterioration function,and also considered that the holding cost of the item per unit time is assumed to be an increasing linear function of time spent in storage.In addition,shortages are allowed and partially backlogged.This model aids in minimizing the total inventory cost by finding the optimal cycle length and the optimal production quantity.The optimal solution of the model is illustrated with the help of numerical examples.展开更多
This paper develops an inventory model for deteriorating items with finite replenishment rate under a progressive payment scheme within the cycle time.In this model,the deterioration function follows a probability dis...This paper develops an inventory model for deteriorating items with finite replenishment rate under a progressive payment scheme within the cycle time.In this model,the deterioration function follows a probability distribution such as a(1)uniform distribution,(2)triangular distribution or(3)beta distribution.Here,the retailer is allowed a trade-credit offer by the supplier to buy more items.This model aids in minimizing the total inventory cost of the retailer by finding the optimal cycle length,the optimal time length of replenishment and the optimal order quantity.Some theorems have been framed to characterize the optimal solutions.The necessary and sufficient conditions of the existence and uniqueness of the optimal solutions are also provided.The optimal solution of the model is illustrated with the help of numerical examples,and numerical comparisons between the three models are also given.Finally,sensitivity analysis and graphical representations are given to demonstrate the model.展开更多
In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in th...In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.展开更多
Intelligent manufacturing design of a complex production-inventory system becomes a key issue for the organization of responsiveness to uncertainties.This paper addresses a two-echelon production-inventory model for a...Intelligent manufacturing design of a complex production-inventory system becomes a key issue for the organization of responsiveness to uncertainties.This paper addresses a two-echelon production-inventory model for a non-repairable product where the system consists of single manufacturer and single retailer.The manufacturer procures raw material(which also contains imperfect raw materials)from an outside supplier then proceeds to convert perfect-quality raw material as a finished product,and finally delivers to the retailer.In this study we assume that the demand is sensitive to promotional efforts/sales teams’initiatives and the production rate is uncertain but possible to describe with a triangular fuzzy number.Then we use the signed distance method to defuzzify the fuzzy joint total cost and an analytical method is employed to achieve the optimal solutions so that the total costs of both manufacturer and retailer are minimized.An efficient algorithm is developed to design an intelligent manufacturing strategy such as optimal production lot-size,backlogging and the initiatives of sales teams.A numerical example and sensitivity analysis are given to demonstrate the application of the proposed model.展开更多
This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by...This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by incorporating the fact that granting the trade credit from the seller to its buyer not only increases sales and revenue but also opportunity cost and default risk.Moreover,in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The purpose of this study is to determine the optimal credit period and the optimal order quantity such that the total profit of the seller is maximised.Some numerical examples are presented for illustrating the proposed inventory model.Furthermore,sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained.展开更多
This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maxi...This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maximising the total profit by determining optimal replenishment policies.Shortages are allowed which are partially backlogged.This model also takes into cognizance the fact that in business activities nowadays customers are given delay in payments.Under these assumptions,a mathematical model is formulated over a finite planning horizon and then some useful theoretical results have been framed to characterise the optimal solutions.The necessary and sufficient conditions for the existence and the uniqueness of the optimal solutions are also derived.An algorithm is designed to find the optimum solutions of the proposed model.Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyse the behaviour of the model.展开更多
基金The research work is supported by DST INSPIRE Fellowship,Ministry of Science and Technology,Government of India under the grant no.DST/INSPIRE Fellowship/2011/413B dated 15 January 2014,and UGC–SAPDepartment of Mathematics,Gandhigram Rural Institute–Deemed University,Gandhigram–624302,Tamilnadu,India.
文摘This paper develops an economic production quantity(EPQ)model under the effect of inflation and time value of money.The rate of replenishment is considered to be a variable and the generalized unit production cost function is formulated by incorporating several factors,such as raw material,labour,replenishment rate,advertisements and other factors of the manufacturing system.The selling price of a unit is determined by a mark-up over the production cost.We have considered three types of continuous probabilistic deterioration function,and also considered that the holding cost of the item per unit time is assumed to be an increasing linear function of time spent in storage.In addition,shortages are allowed and partially backlogged.This model aids in minimizing the total inventory cost by finding the optimal cycle length and the optimal production quantity.The optimal solution of the model is illustrated with the help of numerical examples.
基金This research work is supported by DST INSPIRE,Ministry of Science and Technology,Government of India under the grant no.DST/INSPIRE Fellowship/2011/413B dated 02.12.2014.
文摘This paper develops an inventory model for deteriorating items with finite replenishment rate under a progressive payment scheme within the cycle time.In this model,the deterioration function follows a probability distribution such as a(1)uniform distribution,(2)triangular distribution or(3)beta distribution.Here,the retailer is allowed a trade-credit offer by the supplier to buy more items.This model aids in minimizing the total inventory cost of the retailer by finding the optimal cycle length,the optimal time length of replenishment and the optimal order quantity.Some theorems have been framed to characterize the optimal solutions.The necessary and sufficient conditions of the existence and uniqueness of the optimal solutions are also provided.The optimal solution of the model is illustrated with the help of numerical examples,and numerical comparisons between the three models are also given.Finally,sensitivity analysis and graphical representations are given to demonstrate the model.
基金The first author’s research work is supported by DST INSPIRE,Ministry of Science and Technology,Government of India under grant no.DST/INSPIRE Fellowship/2011/413B dated 2 December 2014.
文摘In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.
基金The second author’s research work is supported by DST INSPIRE,Ministry of Science and Technology,Government of India under the grant no.DST/INSPIRE Fellowship/2011/413B dated 15.01.2014.
文摘Intelligent manufacturing design of a complex production-inventory system becomes a key issue for the organization of responsiveness to uncertainties.This paper addresses a two-echelon production-inventory model for a non-repairable product where the system consists of single manufacturer and single retailer.The manufacturer procures raw material(which also contains imperfect raw materials)from an outside supplier then proceeds to convert perfect-quality raw material as a finished product,and finally delivers to the retailer.In this study we assume that the demand is sensitive to promotional efforts/sales teams’initiatives and the production rate is uncertain but possible to describe with a triangular fuzzy number.Then we use the signed distance method to defuzzify the fuzzy joint total cost and an analytical method is employed to achieve the optimal solutions so that the total costs of both manufacturer and retailer are minimized.An efficient algorithm is developed to design an intelligent manufacturing strategy such as optimal production lot-size,backlogging and the initiatives of sales teams.A numerical example and sensitivity analysis are given to demonstrate the application of the proposed model.
基金supported by DST INSPIRE Fellowship,Ministry of Science and Technology,Government of India under the grant number DST/INSPIRE Fellowship/2011/413B dated 02.12.2014.
文摘This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by incorporating the fact that granting the trade credit from the seller to its buyer not only increases sales and revenue but also opportunity cost and default risk.Moreover,in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The purpose of this study is to determine the optimal credit period and the optimal order quantity such that the total profit of the seller is maximised.Some numerical examples are presented for illustrating the proposed inventory model.Furthermore,sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained.
文摘This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maximising the total profit by determining optimal replenishment policies.Shortages are allowed which are partially backlogged.This model also takes into cognizance the fact that in business activities nowadays customers are given delay in payments.Under these assumptions,a mathematical model is formulated over a finite planning horizon and then some useful theoretical results have been framed to characterise the optimal solutions.The necessary and sufficient conditions for the existence and the uniqueness of the optimal solutions are also derived.An algorithm is designed to find the optimum solutions of the proposed model.Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyse the behaviour of the model.
