A Production Inventory Model for Ameliorating and Deteriorating Items with Price, Time and Advertisement Frequency Dependent Demand under the Effect of Inflation

Hatibaruah, Ajoy; Saha, Sumit

doi:10.1007/s40819-022-01410-5

Cited by 4 publications

(1 citation statement)

References 51 publications

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“…Sahoo et al [35] considered the selling price dependent demand in an inventory problem in which items deteriorate linearly. Hatibaruah and Saha [36] discussed a production inventory system for goods by considering how demand was affected by time, price, and frequency of advertising. In the marketing and operations research literature, sales effort or other different factors have been seen as essential strategies that have received a lot of attention.…”

Section: Introductionmentioning

confidence: 99%

Sustainable inventory prediction with random defect and rework using Bat algorithm

2023

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The sustainable EPQ models that have been proposed in the inventory literature are insufficient to address the practical scenario of defects in manufacturing and subsequent rework for remedial actions. In this article, sustainable inventory model with rework for the faulty products has been studied. Promotional activities are the key factors that significantly affect the market demand for an item. The impacts of random defects and combining economic and environmental elements on the economic order quantity with price and promotional effort dependent demand have been addressed. Numerical illustrations along with sensitivity analysis are presented to reveal the relevancy as well as computational tractability of the proposed investigation. For the profit optimization, a mixed integer problem has been formulated and analyzed by using Bat metaheuristic optimization algorithm.

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Section: Introductionmentioning

confidence: 99%