Optimal control analysis for service, inventory and preservation technology investment

Shah, Nita H.; Chaudhari, Urmila; Jani, Mrudul Y.

doi:10.1080/23302674.2018.1447167

Cited by 9 publications

(6 citation statements)

References 53 publications

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“…Taleizadeh et al [21]introduced a multiproduct inventory problems for dynamic demand and calculated stochastic replenishment intervals. Shah et al [19] evaluated an inventory model for dynamic price, service investment with constant deterioration rate that can be reduced by preservation technology. Wu et al [27] considered a non-instantaneous deteriorating items where the demand is stock dependent and backlogging rate is dependent on waiting time.…”

Section: Literature Reviewmentioning

confidence: 99%

Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

Shah

Rabari

Patel

2021

YUGOSLAV J OPERATION

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Our model deals with the stock-dependent demand as exhibiting huge volume of commodities leads to more costumers and augment the trading of the goods. As some goods like vegetables, fruits, medicines deteriorate after a period of time, resulting in economical and financial losses, we took this factor into consideration and included a constant deterioration rate, controlled by suitable preservation technologies. Preservation technology investments are made for the valuable business as it helps to decrease the rate of deterioration. Our model allows shortages, and back-ordering is permissible to manage the loss that occurs due to perishable objects and shortages. The objectives are to find the optimal cycle time, preservation technology cost, and positive inventory time. The paper also proves the convexity of total cost through graphs with respect to decision variables. A sensitivity analysis of decision variables with respect to different inventory parameters is carried out.

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Section: Literature Reviewmentioning

confidence: 99%

Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

Shah

Rabari

Patel

2021

YUGOSLAV J OPERATION

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“…Jha and Shanker 62 used a production inventory model with adjustable lead times and service level limitations in their research. The best policies of two inventory models were then examined by Zhang et al 63 and Shah et al 64 under service and shared resource restrictions. Das et al 40 and Das et al 41 have created a supply chain network that takes service‐dependent demand into account under unpredictable situations.…”

Section: Introductionmentioning

confidence: 99%

Impact of emission and service constraint for an imperfect production system under two level Hamiltonian

Das

Ali

Shaikh

et al. 2023

Optim Control Appl Methods

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Considering the impact of emission on environment, over the last few decades, reduction of emission during production process (or emission free production process) appears to be one of the most growing preferences for every manufacturing firm. Again, manufacturing companies of different products are bounded to offer various facilities to their consumers in order to survive in the current highly competitive market situation. Primarily considering these two factors taken in to account, this study addresses an imperfect manufacturing inventory model in which customers' demand increases linearly w. r. to emission reduction level, service level from the manufacturer and decreases nonlinearly w. r. to price of the items. The analytical expressions of production rates, emission levels and service levels are derived by solving a number of optimum control problems using Hamiltonian maximum principle with a values for the business period and selling price. The basic goal is to maximize the average profit of the system. In addition, a number of numerical examples are considered to elaborate four distinct instances involved in the proposed model and these are solved numerically using teaching learning based optimization algorithm. Finally, sensitivity experiment is performed to investigate the influence of various system factors on the best‐found policies. The sensitivity analysis indicates that service rate provided by the manufacturer and selling price of the items impose a huge impact on the average profit of the system. Further, the carbon reduction affects the revenue of the system less significantly.

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“…Tiwari et al (2018) considered a two-echelon supply chain model for deteriorating items in which the demand rate is assumed as dependent on the stock level. Shah, Chaudhari, and Jani (2019) analyzed the inventory deterioration under dynamic prices. Khan et al (2019b) proposed an inventory model for deteriorating items considering price-dependent demand.…”

Section: Introductionmentioning

confidence: 99%

Integrated multistage supply chain inventory model of multiple retailers with imperfect production and inspection systems

Lee

et al. 2022

Soft Comput

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An integrated multistage supply chain inventory model containing a single manufacturer and multiple retailers is proposed to consider deteriorating materials and finished products with imperfect production and inspection systems. The main purpose is to jointly determine the manufacturer's production and delivery strategies and the retailers' replenishment strategies to maximize the integrated total profit. First, the individual total profit functions of the manufacturer and multiple retailers are established and are integrated to form the total profit function of the supply chain system. Then, to address the model complexity, an algorithm is proposed to obtain the optimal solution. Several practical numerical examples are presented to demonstrate the solution procedure, and a sensitivity analysis is performed on the major parameters. From the numerical results, several findings that differ from those in the previous literature were observed. First, retailers with larger market scale, better cost control, and inspection capabilities guarantee higher integrated total profit. Second, increasing the deterioration rates of materials and finished products affect the order quantity of materials in various ways. Third, the manufacturer's shipping strategy is rigid and not easily adjusted in the proposed model. The performance of the proposed model has several meaningful management implications.

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Optimal control analysis for service, inventory and preservation technology investment

Cited by 9 publications

References 53 publications

Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

Impact of emission and service constraint for an imperfect production system under two level Hamiltonian

Integrated multistage supply chain inventory model of multiple retailers with imperfect production and inspection systems

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