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

Barman, Haripriya; Pervin, Magfura; Roy, Sankar Kumar; Weber, Gerhard

doi:10.3934/jimo.2020052

Cited by 50 publications

(23 citation statements)

References 44 publications

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“…Pal et al [16] described a twoechelon competitive integrated supply chain model with price-and credit-period dependent demand. Barman et al [3] studied a back-ordered inventory model with inflation in a cloudy-fuzzy environment. Saxena et al [29] explored a green supply chain model of vendor and buyer for re-manufacturing.…”

Section: Motivation and Review On Researchmentioning

confidence: 99%

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Paul

Pervin²,

Roy

et al. 2021

RAIRO-Oper. Res.

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In this paper, we formulate and solve an economic order quantity model with default risk. Our main purpose is to investigate retailer's optimal replenishment time and credit period for deteriorating items under selling price-dependent demand while maximizing profit per unit time. Here, shortages are allowed and items are partially backlogged for interested customers. We show that optimal replenishment time and credit period not only exist but they are also unique. We solve the proposed problem analytically. An algorithm is presented to derive the optimal solution of the model. The mathematical model is evaluated by numerical examples. We use Mathematica to obtain a global maximum solution to the optimal cycle time and the optimal credit period for the proposed model. A sensitivity analysis with respect to major parameters is performed in order to examine the stability of our model. At the end of the paper, conclusions are drawn and an outlook of possible future directions is depicted.

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Section: Motivation and Review On Researchmentioning

confidence: 99%

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Paul

Pervin²,

Roy

et al. 2021

RAIRO-Oper. Res.

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“…In other seminal literature, the concept of deterioration can be attributed to Van Zyl [28], who worked on a model with two shelf lives for perishable goods as stated by Nahmias [26] in a review of the early literature on ordering policies. A close look at the research studies brings out various dimensions in which the study of deterioration has been carried out: lot size and continuous-time [29]; Weibull distribution deterioration [30]; the variable rate of deterioration with a finite rate of production [31]; deteriorating inventory with a linear trend in demand [32]; and an inventory model with uncertain demand and deterioration rate implemented [33]. Many researchers have chosen a fuzzy environment in inventory problems to handle uncertain information of demand and deterioration rate of the products; however, in the case of dairy products, no specific research has been done.…”

Section: Literature Reviewmentioning

confidence: 99%

Multi-Product Multi Echelon Measurements of Perishable Supply Chain: Fuzzy Non-Linear Programming Approach

et al. 2021

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The perishable milk products industry has to deal with multiple pressures such as demand forecasting, price fluctuations, lead time, order batching, and inflated orders along with difficulties of climatic and traffic conditions, storage areas and shipment in unfavorable circumstances. The Indian dairy industry faces immense wattage issue due to improper infrastructure for the cold chain storage facilities, resulting in unsatisfied customers. A study is undertaken to comprehend the supply chain framework that handles perishability issues in production and distribution. Researchers propose a multi-objective mixed-integer non-linear supply chain coordination model under uncertain environments to minimize the cost of transportation, offset wastage of products and neutralize the losses due to insufficiencies of transit and storage amenities. The proposed model is meant for managing the delivery with lesser deterioration losses for producers, warehouses, and retailers. The model considers various costs for holding, halting, discounts on purchased cost, transportation cost for truckload policy under regular and unforeseen circumstances of curfew, and identify the rate of deterioration to know the impact on the cost for all players involved in the SCM framework. To handle uncertainty of objective functions, fuzzy set concepts and the defuzzification method are imposed, and fuzzy non-linear programming algorithms are used to get the single objective function from the defuzzified multi-objective functions. Data analysis is done on Lingo 18.0 software. Rate of deterioration is highest for the warehouse, which indicates that efforts should be made to augment warehouse facilities for less spoilage to reduce losses in cost. Finally, the study ends with main findings, conclusions, limitations and future scopes.

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“…The unit production cost is jointly affected by cost learning and operational inefficiency effects, which in turn influence the dynamic cumulative effect process. The latest relevant articles on the theory and application of production management can be referred to works such as [31,2,24,25].…”

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confidence: 99%

“…Parameters in the demand function mainly refer to the relevant literature[38,5,7] and are corrected. The special relative relationship must be kept reasonable 2. This parameter mainly refers to[5], whose magnitude corresponds to α, β 3.…”

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confidence: 99%

Robust control in green production management

Jun¹,

Qu²

2022

JIMO

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<p style='text-indent:20px;'>This study proposes a robust control model for a production management problem related to dynamic pricing and green investment. Contaminants produced during the production process contribute to the accumulation of pollution stochastically. We derive optimal robust controls and identify conditions under which some concerns about model misspecification are discussed. We observe that optimal price and investment control decrease in the degree of robustness. We also examine the cost of robustness and the relevant importance of contributions in the overall value function. The theoretical results are applied to a calibrated model regarding production management. Finally, we compare robust choices with those in the benchmark stochastic model. Numerical simulations show that robust decision-making can indeed adjust investment decisions based on the level of uncertainty.</p>

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

Cited by 50 publications

References 44 publications

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Multi-Product Multi Echelon Measurements of Perishable Supply Chain: Fuzzy Non-Linear Programming Approach

Robust control in green production management

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