Model development for deteriorating inventory in material requirement planning systems

Wee, Hui–Ming; Shum, Yu-Su

doi:10.1016/s0360-8352(99)00003-0

Cited by 13 publications

(7 citation statements)

References 3 publications

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“…The demand is fulfilled based on the FIFO policy within each level. Wee and Shum (1999) developed the inventory replenishment policy for single items in the single-level material requirement planning system, where they used least-unit-cost methods to demonstrated that the order quantity and the total relevant cost are influenced by the varying rate of deterioration (Table IV).…”

Section: Classification Of Perishable Inventory Modelsmentioning

confidence: 99%

State-of-the-art literature review on inventory models for perishable products

Chaudhary

Kulshrestha

Routroy

2018

JAMR

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Purpose The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps. Design/methodology/approach In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested. Findings There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market. Research limitations/implications Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling. Practical implications Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory. Originality/value The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

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Section: Classification Of Perishable Inventory Modelsmentioning

confidence: 99%

State-of-the-art literature review on inventory models for perishable products

Chaudhary

Kulshrestha

Routroy

2018

JAMR

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“…Raw material cost also impacts on the entire policy. Wee and Shum [29] presented a model to discuss this part of cost. Then, Woo et al [30] considered raw material cost in their model.…”

Section: Literature Reviewmentioning

confidence: 99%

“…1 in which S-P-S-B means single-producer single-buyer, and S-P-M-B means single-producer multi-buyer. The comparison of characteristics of this research with three other research results (i.e., [30,14,29] from which the current research problem ensues) are reported in Table 1.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal models for a single-producer multi-buyer integrated system of deteriorating items with raw materials storage costs

Sarker

2015

Int J Adv Manuf Technol

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Companies link one with another through product flow in a supply chain, so pursuing an optimal integrated production and delivery policy can help them to win from the starting line. In this research, a single-producer multi-buyer integrated model is proposed, in which the producer and all buyers work collaboratively at minimizing their total operation cost. The model is based on the equal replenishments and production cycle assumption; several aspects, as ordering cost reduction, deteriorating, backorder (buyers side), remanufacturing, and raw materials cost (producer side), are considered. The solving algorithm is established and three numerical examples are presented. An analysis is also performed to discuss the sensitivity of some important system parameters.

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“…MRP also refers to a computerized information system for managing dependent demand inventory and scheduling stock replenishment orders [1]; the general goal of MRP is to purchase supplies from vendors such that one receives the right part, in the right quantity, at the right time [2]. The application of this popular tool in materials management has greatly reduced inventory levels and improved productivity [3].…”

Section: Introductionmentioning

confidence: 99%

Time, cost, and quality trade-offs in material requirements planning using fuzzy multi-objective programming

Bagherpour

Feylizadeh

Cioffi

2012

Proceedings of the Institution of Mechanical Engineers, Part B:

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In this paper, three simultaneous objectives -material requirements planning (MRP) completion time minimization, total cost minimization, and maximization of the quality of raw materials in an MRP system -are balanced by using a fuzzy multi-objective programming (F-MOP) model. Crashing the total MRP completion time; that is, reducing the time by increasing the resources, can improve on-time delivery to the customer. The goal is to determine the optimum crashing in an MRP context such that maximum total satisfaction is achieved. The approach proposed in this paper is given in both symmetric and asymmetric cases, and relevant results are presented and discussed. The model can help manufacturers deliver products on time, at low cost, with high quality.

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Model development for deteriorating inventory in material requirement planning systems

Cited by 13 publications

References 3 publications

State-of-the-art literature review on inventory models for perishable products

State-of-the-art literature review on inventory models for perishable products

Optimal models for a single-producer multi-buyer integrated system of deteriorating items with raw materials storage costs

Time, cost, and quality trade-offs in material requirements planning using fuzzy multi-objective programming

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