Optimal ordering quantities for substitutable deteriorating items under joint replenishment with cost of substitution

Mishra, Vinod Kumar

doi:10.1007/s40092-017-0192-z

Cited by 15 publications

(11 citation statements)

References 32 publications

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“…For instance, Drezner et al (1995) defined the substitution cost as the price difference between two products. Tan and Karabati (2013), Benkherouf et al (2017) and Mishra (2017) evaluated the substitution cost as the cost of customer dissatisfaction caused by the inability of the customer to purchase his/her primary choice. Similar to our study, Gurnani and Drezner (2020), Tore et al (2013) and Durga and Chandrasekaran (2020) handled the substitution cost as the cost of transforming the substitute product to the preferred one.…”

Section: Related Literaturementioning

confidence: 99%

Part transformation-based spare parts inventory control model for the high-tech industries

Güçdemir,

Taşoğlu

2024

10.5267/j.ijiec

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Timely and cost-effective supply of spare parts is the main purpose of spare parts inventory management and substitution is an effective way to fulfill demand on time. However, direct substitution of spare parts is not suitable for the high-tech industries due to the ever-changing nature of the product structures. Hence, parts should be transformed to be used as substitutes. This paper provides a novel spare parts inventory control model for the high-tech industries. In the proposed model, part transformation-based substitution is considered and the near-optimal values of spare part inventory levels (s, S) that minimize total cost are determined by using a simulated annealing-based simulation optimization approach. Computational analyses are performed for a hypothetical inventory system by considering transformation and no-transformation cases. The results reveal that transformation is very useful for the companies who endure long production lead times and high penalty costs associated with backorders.

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Section: Related Literaturementioning

confidence: 99%

Part transformation-based spare parts inventory control model for the high-tech industries

Güçdemir,

Taşoğlu

2024

10.5267/j.ijiec

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“…Benkherouf et al [2] considered product substitution and time varying demand and formulated a mixed integer nonlinear program in a finite horizon inventory model. Transchel [42] examined a stochastic inventory with priced-based and stockout-based substitution and by this time Mishra [26] developed substitution cost in a deterministic inventory model for optimal order quantities.…”

Section: General Overviewmentioning

confidence: 99%

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

Karmakar

Datta

et al. 2021

RAIRO-Oper. Res.

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Brand substitution is common observed phenomenon in daily life. It is the decision makers' economic understanding and potential scheme for business-industries. Also, it provides the flexibility in management and increases the ability to control the production. This paper proposes an integrated supplier-retailer inventory model for substitutable products. Two supplier with two different brand product with their corresponding demand are involved and one retailer sells each of the products. To nullify the complexities of the joint optimization problem, we first develop a deterministic model for three cases: no substitution, partial substitution and full substitution, then we go for its fuzzification. Keeping the financial constraint of each producer, we have studied over the elasticity of the cost parameters by means of triangular dense fuzzy lock set approach with its locking and unlocking property for final decision making. Finally, sensitivity analysis and graphical illustration are made to justify the model.

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“…2. If D1=D11=D12=D13, D2=D21=D22=D23 and θ1=θ11=θ12=θ13=θ2=θ21=θ22=θ23 and t 1 = 0 then this model become similar to Mishra (2017).…”

Section: Algorithmmentioning

confidence: 99%

“…Salameh et al (2014) presented a two-product inventory model with joint replenishment and substitution. Mishra (2017) extended Salameh et al (2014) work by considering effect of deterioration in inventory system. Mashud et al (2019) developed a non-instantaneous deteriorating inventory model by combining both preservation technology and pricing with advertisement effect and trade credit policy.…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainable optimal ordering quantity for non-instantaneous deteriorating items under joint replenishment with substitution and carbon emission

Singh

Mishra

2021

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Purpose Carbon emission is a significant issue for the current business market and global warming. Nowadays, most countries have focused to reduce the environmental impact of business with durable financial benefits. The purpose of this study is to optimize the entire cost functions with carbon emission and to find the sustainable optimal ordering quantity for retailers. Design/methodology/approach This paper illustrates a sustainable inventory model having a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. In this model demand and deterioration rate are considered as deterministic, constant and triangular fuzzy numbers. The objective is to find the optimal ordering quantity for retailers and to minimize the total cost function per unit time with carbon emission. The model is then solved with the help of Maple software. Findings This paper presents a solution method and also develop an algorithm to determine the order quantities which optimize the total cost function. A numerical experiment illustrates the improvement in optimal total cost of the inventory model with substitution over without substitution. The graphical results show the convexity of the cost function. Finally, sensitivity analysis is given to get the impact of parameters and validity of the model. Originality/value This study considers a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. From the literature review, in the authors’ knowledge no researcher has undergone this kind of study.

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Optimal ordering quantities for substitutable deteriorating items under joint replenishment with cost of substitution

Cited by 15 publications

References 32 publications

Part transformation-based spare parts inventory control model for the high-tech industries

Part transformation-based spare parts inventory control model for the high-tech industries

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

Sustainable optimal ordering quantity for non-instantaneous deteriorating items under joint replenishment with substitution and carbon emission

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