A fuzzy random integrated inventory model with imperfect production under optimal vendor investment

Dey, Oshmita

doi:10.1007/s12351-016-0286-1

Cited by 15 publications

(7 citation statements)

References 42 publications

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“…In their study for the case of 100% inspection, the expected total cost with screening cost leads to a higher cost of inventory. Dey [30] examined an integrated single-buyer, single-vendor inventory model with defective production under a diverse environment where randomness and fuzziness appear simultaneously. Kang et al [31] proposed an inventory model on the basis of work-in-process by integrating the impact of the random imperfect rate on lot size.…”

Section: Literature Reviewmentioning

confidence: 99%

Sustainable Inventory Management for Environmental Impact through Partial Backordering and Multi-Trade-Credit-Period

et al. 2018

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Incorporation of sustainable management for the rework of defective items brings long lasting benefits. In global business, there are situations when the products are procured from a global supplier. There are chances that the received lot may contain a fraction of imperfect products. These imperfect products are still valuable and can be repairable to save the environment. It is sustainable to repair imperfect items in a local repair store as compared to sending it back to the supplier. The cost of carbon emissions is also incorporated in the function to incorporate the environmental impact on total profit. Meanwhile, the supplier also offers a multi-trade-credit-period to the buyer. The developed model is sustainable and reduces the environmental impact as well as benefits for interim financing. This paper has an objective to maximize the total profit by developing a synergic economic order quantity model by considering multi-trade-credit policy, rework, and shortages simultaneously. This model can help in making decisions to enhance the performance of sustainable inventory management by controlling the cycle time and a fraction of time for a global supply chain. A non-derivative approach is employed to develop a closed-form optimal result. The numerical illustration with sensitivity analysis is also drawn to provide managerial insights into real practices.

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Section: Literature Reviewmentioning

confidence: 99%

Sustainable Inventory Management for Environmental Impact through Partial Backordering and Multi-Trade-Credit-Period

et al. 2018

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“…Bhuiya et al [22] extended Sana and Goyal's model [23] by calculating the optimal order quantity, reorder point, and lead-time simultaneously in a random framework, as well as considering uncertain demand to be a fuzzy random variable. Dey [24] developed an integrated single-vendor/single-buyer imperfect production-inventory model in which fuzziness and randomness simultaneously appear in a mixed environment. Fu et al [25] developed a production-inventory model to determine the optimal decision in a singlevendor/single-buyer supply chain system by considering imperfect quality, the learning effect, and triangular fuzzy demand.…”

Section: Introductionmentioning

confidence: 99%

A Continuous Review Production-Inventory System with a Variable Preparation Time in a Fuzzy Random Environment

Mahapatra

Soni²,

Mahapatra

et al. 2021

Mathematics

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With the increase in the varieties products and the increasing uncertainty about product demand, the production preparation time is a significant factor in addressing these issues. The trade-off between the reduction of the production preparation time and the associated cost remains a critical decision. With this backdrop, this study presents a continuous review production-inventory model with a variable production preparation time and a time-dependent setup cost. The demand during the preparation time is captured through a min-max distribution-free approach. In a stochastic framework, the order quantity, reorder point, and setup time are optimized by minimizing the expected cost considering the time-value effect. Further, a fuzzy model is formulated to tackle the imprecise nature of the production setup time and demand. Two algorithms are developed using an analytical approach to obtain the optimal solution. A numerical illustration is given to present the key insights of the model for effective inventory management. It is observed that order quantity and total cost are more sensitive at the lower side of the optimal setup time rather than at the higher side. The discount rate is also found to be a sensitive factor while minimizing the total expected cost.

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“…Then, Patra and Maity [20] developed a production problem for defective items with a variable production rate. Dey [21] investigated an imperfect production model under an integrated system in an imprecise environment. Succeeding them, Mishra et al [22] studied the sustainability of a production system under controllable carbon emission.…”

Section: Introductionmentioning

confidence: 99%

A Mathematical Model of the Production Inventory Problem for Mixing Liquid Considering Preservation Facility

et al. 2021

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The mixing process of liquid products is a crucial activity in the industry of essential commodities like, medicine, pesticide, detergent, and so on. So, the mathematical study of the mixing problem is very much important to formulate a production inventory model of such type of items. In this work, the concept of the mixing problem is studied in the branch of production inventory. Here, a production model of mixed liquids with price-dependent demand and a stock-dependent production rate is formulated under preservation technology. In the formulation, first of all, the mixing process is presented mathematically with the help of simultaneous differential equations. Then, the mixed liquid produced in the mixing process is taken as a raw material of a manufacturing system. Then, all the cost components and average profit of the system are calculated. Now, the objective is to maximize the corresponding profit maximization problem along with the highly nonlinear objective function. Because of this, the mentioned maximization problem is solved numerically using MATHEMATICA software. In order to justify the validity of the model, two numerical examples are worked out. Finally, to show the impact of inventory parameters on the optimal policy, sensitivity analyses are performed and the obtained results are presented graphically.

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A fuzzy random integrated inventory model with imperfect production under optimal vendor investment

Cited by 15 publications

References 42 publications

Sustainable Inventory Management for Environmental Impact through Partial Backordering and Multi-Trade-Credit-Period

Sustainable Inventory Management for Environmental Impact through Partial Backordering and Multi-Trade-Credit-Period

A Continuous Review Production-Inventory System with a Variable Preparation Time in a Fuzzy Random Environment

A Mathematical Model of the Production Inventory Problem for Mixing Liquid Considering Preservation Facility

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