Inventory and Production Dynamics in a Discrete-Time Vendor-Managed Inventory Supply Chain System

Wei, Yongchang; Chen, Fangyu; Wang, Hongwei

doi:10.1155/2018/6091946

Cited by 5 publications

(5 citation statements)

References 51 publications

(77 reference statements)

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Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

“…Tere are some works analytically investigating SC optimization considering BCT ( [57][58][59][60][61][62][63]). Wei et al [57] presented some analytical results on production and order dynamics in the context of a discrete time vendormanaged inventory (VMI) SC. Manupati et al [58] proposed the use of BCT to address various production allocation issues in a multiechelon SC under the carbon taxation policy.…”

Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

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Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

Mala,

Palanivel,

Priyan

2023

Discrete Dynamics in Nature and Society

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The global supply chain has been severely impacted with the outbreak of COVID-19. The continuous supply of essential products in the post-COVID-19 world is a truly effective and strategic contest. The security and useability of inventory management are a main burden for industries along with the pressure from the government to fulfil the targets of net-zero economy in an uncertain circumstance. One of the most potential keys to these issues is an accurate demand forecasting process by blockchain technology. This article addresses a basic outline for blockchain-based supply chain (SC) and reveals how blockchain technology (BCT) can aid policymakers to cut carbon footprint during and postpandemic time in a fuzzy environment. This study fuzzifies all the carbon factors as intuitionistic triangular fuzzy numbers and uses a signed distance method to defuzzify the model. We consider that the retailer can embrace BCT to enhance demand forecasting. The planned scenario is modeled as an optimization problem to maximize the profit with low carbon emissions and suggest a solution method to solve it. A numerical example is also given to validate the model. We compare the optimal decisions of the SC with and without BCT. We discover that the pandemic and BCT have considerable influences on the optimal results. The study also shows that practitioners should exercise caution when developing operational strategies for maximizing profit with the least amount of carbon emissions during and postpandemic time.

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Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

Section: Application Of Bct In the Supply Chain Systemmentioning

confidence: 99%

Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

Mala,

Palanivel,

Priyan

2023

Discrete Dynamics in Nature and Society

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“…A supply chain's production and inventory management directly influence a company's costs. It is a crucial part of supply chain management for contemporary businesses (Naderi et al, 2021;Pal et al, 2012;Wei et al, 2018;Huthaifa et al, 2017). Companies in the supply chain may collaborate more successfully by exchanging technology and information, sharing profits and giving trade credit.…”

Section: Introductionmentioning

confidence: 99%

A production and inventory model for deteriorating items with two-level partial trade credit and stochastic demand in a supply chain

Dai

Wang

2022

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PurposeThe purpose of this paper is to maximize the average profit of the supply chain by calculating the order quantity, the number of shipments during the production time of the vendor, the number of shipments during the supply cycle of the vendor and the time when the retailer’s inventory level reaches to zero.Design/methodology/approachA production and inventory model for degrading commodities with stochastic demand and two-level partial trade credit in a supply chain is presented. The model’s applicability and the processes' feasibility for solving are verified by GAMS software with BARON.FindingsThe impact of the model’s parameters on the vendor and retailer’s average profit was found through sensitivity analysis. The effect of the model’s parameters on the supply chain’s average profit was also found. Moreover, the reasons for this effect were given.Practical implicationsFirst, decision-makers may use this model to increase the supply chain's average profit. Second, the proposed model takes a general form. Third, the policymakers can also adjust the model’s parameters according to their preferences to get the desired results.Originality/valueFirst, this paper develops an inventory and production model for perishable goods. Second, it is believed that the demand is random because the demand is affected by many factors, which make the study more realistic. Third, this paper studies production and inventory problems from the supply chain perspective. Finally, the interest for partial trade credit is calculated. The interest caused by stochastic shortages is also considered and calculated.

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“…Risk aversion for decisionmakers to increase returns is also the main objective of the classical newsboy model. e newsvendor model is fundamental in supply chain management [1][2][3].…”

Section: Introductionmentioning

confidence: 99%

A Risk-Averse Newsvendor Model under Stochastic Market Price

Zhang

2021

Discrete Dynamics in Nature and Society

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The optimal inventory control is closely related to an enterprise’s operational efficiency, survival, and development. Market price uncertainty is introduced into the newsvendor model and the uncertainty’s impact on the firm's optimal stocking quantity is discussed. The results show that the impact of stochastic market price on the optimal stocking quantity under a given condition mainly depends on the magnitude of inventory cost. When the inventory cost is low, the market price’s uncertainty leads the firm to increase the stocking quantity. In contrast, when the inventory cost is high, market price uncertainty leads the firm to decrease inventory. Besides, the risk-averse behaviour leads the firm to reduce its stocking quantity.

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Inventory and Production Dynamics in a Discrete-Time Vendor-Managed Inventory Supply Chain System

Cited by 5 publications

References 51 publications

Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

Blockchain-Based Inventory System considering Uncertain Carbon Footprints and Pandemic Effects

A production and inventory model for deteriorating items with two-level partial trade credit and stochastic demand in a supply chain

A Risk-Averse Newsvendor Model under Stochastic Market Price

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