A Fuzzy Inventory Model for a Deteriorating Item with Variable Demand, Permissible Delay in Payments and Partial Backlogging with Shortage Follows Inventory (SFI) Policy

Shaikh, Ali Akbar; Bhunia, Asoke Kumar; Cárdenas–Barrón, Leopoldo Eduardo; Sahoo, Laxminarayan; Tiwari, Sunil

doi:10.1007/s40815-018-0466-7

Cited by 39 publications

(11 citation statements)

References 55 publications

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“…In addition, many scholars extended intelligent algorithms to the inventory strategy problem, and Liu et al [ 11 ] studied the inventory and path optimization problem of fresh cold chain in the context of energy-saving and emission reduction with the help of genetic algorithm and hybrid algorithm. Shaikh et al [ 12 ] studied a fuzzy inventory model with allowable delayed payments considering inventory backlog and out-of-stock problem with the help of particle swarm algorithm. Hajek et al [ 13 ] constructed a maximized inventory backorder prediction system based on a machine learning model to improve the robustness of storage/inventory cost and sale profit variation.…”

Section: Introductionmentioning

confidence: 99%

[Retracted] Pharmaceutical Reagent Inventory Strategy Based on Contract Shelf Life and Patient Demand

Liu

Qian

Zhao

et al. 2022

Contrast Media & Molecular Imaging

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As the function and R&D level of in vitro diagnostic reagents continue to improve, the need for hospitals for in vitro diagnostic reagents in clinical diagnosis also keeps increasing. However, under the influence of management, process, technology, equipment, materials, employees, and other unexpected disturbing factors, the output of reagents often has random uncertainty, and it is difficult to provide the finished products required by orders on time, in quality and quantity. A secondary supply chain consisting of reagent manufacturers, distributors, and hospitals is constructed, and the inventory control models of in vitro diagnostic reagent supply chain under three strategies of centralized decision-making, hospital-owned inventory, and reagent distributor-managed inventory are established, respectively, and the maximum expected returns of the supply chain system under different strategies are analyzed to achieve the optimal production decision of reagent manufacturers and the optimal procurement decision of hospitals. The results show that reducing the random output probability and patient demand uncertainty has a significant effect on improving the expected return of in vitro diagnostic reagent supply chain, and as the random output probability of reagent manufacturers and patient consumption demand uncertainty increase, the strategy of managing inventory by distributors in collaboration is always better than the strategy of managing inventory by hospitals' own warehouses, which can achieve higher expected return and better inventory quantity, but when the out-of-stock cost of hospitals is too high above a certain threshold, the hospital will tend to adopt the self-inventory strategy.

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Section: Introductionmentioning

confidence: 99%

[Retracted] Pharmaceutical Reagent Inventory Strategy Based on Contract Shelf Life and Patient Demand

Liu

Qian

Zhao

et al. 2022

Contrast Media & Molecular Imaging

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“…Nevertheless, the selling price dependent demand assumed by Sahoo et al [40] for linear deteriorating items, and Khanna et al [21] for imperfect quality and constant deteriorating items in their proposed problems. Moreover, both advertising cost and price dependent demand were discussed by Chanda and Kumar [7] for fashionable products, Shaikh et al [43,44] for Weibull and constant deteriorating items, and Kumar et al [23] for defective products. Rajan and Uthayakumar [36], and Kaliraman et al [18] developed inventory models for constant deteriorating items under exponentially growing demand.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Thus, many researchers in the present era have considered the impreciseness of the parameters for the inventory requirements in the fuzzy environment. For some developments in this direction, see the recent works of Chanda and Kumar [7], Sharma et al [46], Indrajitsingha et al [12][13][14], Mishra et al [32], Shaikh et al [43], Kumar et al [23][24][25], Nayak et al [35], Routray et al [39] and Shabani et al [42]. Apart from these, the government and various companies are changing their policies from time to time, which also lead to fuzziness in inventory models.…”

Section: Literature Reviewmentioning

confidence: 99%

Cost optimization inventory model for deteriorating items with trapezoidal demand rate under completely backlogged shortages in crisp and fuzzy environment

Kumar

Paikray

2022

RAIRO-Oper. Res.

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Recently, various deterministic inventory models were developed for deteriorating items with the uniform demand pattern (either increasing or decreasing) throughout the cycle. However, such types of models are not suitable for many real business problems. In particular, the demand patterns of various items are not steady throughout the cycle. In many inventory models, ordinarily, the demand rises first, then it becomes static and finally decreases, and such types of demands can be portrayed by considering trapezoidal functions. Moreover, the costs associated with the inventory become imprecise due to several socio-economical factors. As a result, the optimal solution obtained by the classical inventory model may not fit the actual scenario. Keeping this in view, we develop here an inventory model for deteriorating items having the trapezoidal type of demand function in both crisp and fuzzy environments by considering three possible cases of shortages which are completely backlogged. Furthermore, in view of the comparative study of both scenarios, different data sets of constraints are examined for optimal results. Also, it is observed that the optimal results of the fuzzy model are more appropriate to real-world inventory problems. Finally, in order to strengthen the present investigation, the managerial insight of fluctuation in parameters is presented analytically via sensitivity analysis.

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“…A fuzzy inventory model for deteriorating items with shortages under fully backlogging condition was constructed by Indrajitsingha et al [15]. Later, Shaikh et al [40] discussed a fuzzy inventory model for a deteriorating item under variable demand, permissible delay in payments and partial backlogging under shortage follows inventory policy by employing quantum-behaved particle swarm optimization technique to solve the optimization problems. Pervin et al [30] discussed an integrated model by taking variable holding cost.…”

Section: (D)mentioning

confidence: 99%

Back-ordered inventory model with inflation in a cloudy-fuzzy environment

Barman¹,

Pervin²,

Roy³

et al. 2021

JIMO

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In this paper, an Economic Production Quantity model for deteriorating items with time-dependent demand and shortages including partially back-ordered is developed under a cloudy-fuzzy environment. At first, we develop a crisp model by considering linearly time-dependent demand with constant deterioration rate, constant inflation rate and shortages under partially back-ordered, then we fuzzify the model to archive a decision under the cloudy-fuzzy (extension of fuzziness) demand rate, inflation rate, deterioration rate and the partially back-ordered rate which are followed by their practical applications. In this model, we assume ambiances where cloudy normalized triangular fuzzy number is used to handle the uncertainty in information which is coming from the data. The main purpose of our study is to defuzzify the total inventory cost by applying Ranking Index method of fuzzy numbers as well as cloudy-fuzzy numbers and minimize the total inventory cost of crisp, fuzzy, and cloudy-fuzzy model. Finally, a comparative analysis among crisp, fuzzy and cloudy-fuzzy total cost is carried out in this paper. Numerical example, sensitivity analysis, and managerial insights are elaborated to justify the usefulness of the new approach. A comparative inquiry of the numerical result with a new existing paper is also carried out. This paper ends with a conclusion along with advantages and limitations of our solution approach, and an outlook towards possible future studies.

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A Fuzzy Inventory Model for a Deteriorating Item with Variable Demand, Permissible Delay in Payments and Partial Backlogging with Shortage Follows Inventory (SFI) Policy

Cited by 39 publications

References 55 publications

[Retracted] Pharmaceutical Reagent Inventory Strategy Based on Contract Shelf Life and Patient Demand

[Retracted] Pharmaceutical Reagent Inventory Strategy Based on Contract Shelf Life and Patient Demand

Cost optimization inventory model for deteriorating items with trapezoidal demand rate under completely backlogged shortages in crisp and fuzzy environment

Back-ordered inventory model with inflation in a cloudy-fuzzy environment

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