A two-warehouse EOQ model with interval-valued inventory cost and advance payment for deteriorating item under particle swarm optimization

Shaikh, Ali Akbar; Das, Subhash Chandra; Bhunia, Asoke Kumar; Panda, Gobinda Chandra; Khan, Md. Mobarak Hossain

doi:10.1007/s00500-019-03890-y

Cited by 58 publications

(25 citation statements)

References 43 publications

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“…Again, several researchers viz. Taleizadeh [37], Supakar and Mahato [36], Shaikh et al [33] proposed pre-payment policy in their established EOQ model. Yu et al [42] proposed singlemanufacturer, multi-retailer supply chain model with generalized demand.…”

Section: Research Gap and Contributionmentioning

confidence: 99%

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Single-manufacturer and multi-retailer supply chain model with pre-payment based partial free transportation

et al. 2021

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In this paper, a supply chain model between a manufacturing firm and a group of retailers has been developed. Manufacturing firm produces simultaneously both perfect and imperfect items which are separated by screening process. Then the perfect items are transferred to the retailers' showroom/warehouse located in different places and a part of imperfect items are repaired by rework process. Retailers receive the products from the manufacturer with paying partial pre-payment to ensure the replenishment of order. On the other hand, the manufacturer provides partial free transportation facility to the retailers due to pre-payment. The corresponding problem has been formulated mathematically as a profit maximization problem and then solved it analytically. As an illustration of this supply chain model, three numerical examples have been considered and solved. Finally, post optimality analyses have been carried out to investigate the effects of changes of different parameters on the optimal policy.

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Section: Research Gap and Contributionmentioning

confidence: 99%

“…They have used artificial bee colony algorithm for finding the optimal order quantity and maximum profit. Recently, Shaikh et al [33] discussed a two-warehouse EOQ model with advance payment. They also determined the maximum backorder level and optimal order quantity by particle swarm optimization technique.…”

Section: Introductionmentioning

confidence: 99%

Single-manufacturer and multi-retailer supply chain model with pre-payment based partial free transportation

et al. 2021

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“…Recently, Taleizadeh et al [36] developed an incremental discount model while Khan et al [19,20] provided a cash discount for full purchase cost payment. Khan et al [18,21] and Shaikh et al [33] considered advance payment for a two-warehouse problem with partial backordering. However, none of these models offered a discount on multiple prepayments or considered the products' maximum lifetime.…”

Section: Introduction and Literature Reviewmentioning

confidence: 99%

Joint pricing deteriorating inventory model considering product life cycle and advance payment with a discount facility

et al. 2021

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The product life cycle of a deteriorating product is an important consideration in inventory management. This paper simultaneously investigates the optimum pricing and inventory decisions considering product life cycles under price-dependent demand and advance payment systems with a discount facility. A time-dependent holding cost is also introduced. The objective is to carefully balance the critical decision variables in order to maximize the total profit. Furthermore, the theoretical analysis validates the concavity of the profit function. A numerical example and sensitivity analysis are provided to show the characteristics of the model. The study shows that an advanced payment period, installment numbers, product’s maximum life cycle, purchasing cost and demand function significantly influence the total profit. This inventory model with a known product lifetime and advance payments can provide management insights to inventory manager in his/her strategic planning.

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“…Since the majority of the holding charges are not always fixed due to uncertainty of today's competitive environment, Shaikh et al [21] studied a two-warehouse model with interval-valued inventory cost and advance payment for deteriorating items under particle swarm optimization. In this regard, they took into account the inventory parameters as intervals and also assumed partially backlogged shortages in effect.…”

Section: Introductionmentioning

confidence: 99%

Single-item lot-based supplying and batch production under a bilateral capacity reservation: A partnership structure

Rezaei

Behnamian

2021

RAIRO-Oper. Res.

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This paper studies a single-item lot-based supplying and batch production under a bilateral capacity reservation contract based on a partnership structure in which some suppliers, a manufacturer, and a third-party logistics provider are connected through long-term cooperation agreements. This configures a partnership supply chain and promotes the manufacturer’s performance in a continuous improvement cycle. Since in this paper, it is assumed that the products are perishable, there is not any inventory storage. Moreover, due to a settled contract, the final products are delivered by third-party logistics corporate providing vehicles according to the products’ features, their expiration time lengths, customers’ demands and other considerations in each period. Thus, the delivery batch size, which is equal to the vehicle capacity in a full truckload mode, is targeted for the manufacturer operations resulting in a dynamic improvement environment. In this problem, respect to the performance level of the manufacturer, in each period, a certain capacity is reserved at each selected supplier level according to the appointed batch deliveries. Here, in addition to the ordinary costs incurred due to ordering and delivery processes, some penalties are imposed for orders/delivers exceeding or falling behind the reserved capacity. After investigating the computational complexity of the problem, we propose three dynamic programming algorithm as well. Finally, numerical results and some potential future researches are presented.

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A two-warehouse EOQ model with interval-valued inventory cost and advance payment for deteriorating item under particle swarm optimization

Cited by 58 publications

References 43 publications

Single-manufacturer and multi-retailer supply chain model with pre-payment based partial free transportation

Single-manufacturer and multi-retailer supply chain model with pre-payment based partial free transportation

Joint pricing deteriorating inventory model considering product life cycle and advance payment with a discount facility

Single-item lot-based supplying and batch production under a bilateral capacity reservation: A partnership structure

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