A Study of an EOQ Model of Growing Items with Parabolic Dense Fuzzy Lock Demand Rate

Maity, Suman; De, Sujit Kumar; Pal, Madhumangal; Mondal, Sankar Prasad

doi:10.3390/asi4040081

Cited by 13 publications

(5 citation statements)

References 34 publications

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“…Using non-linear equations to solve a parabolic triangular membership function, Maity, De, Pal, and Mondal examined a growing items EOQ model with a parabolic dense fuzzy lock demand rate (S. Maity, De, et al 2021).…”

Section: Dense Inventory Model Under Fuzzy Environmentmentioning

confidence: 99%

Inventory management through Economic Order Quantity Model:A Bibliometric and Scientometric analysis

Dey,

Ray,

Mallik

et al. 2024

Preprint

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Inventory management employs the economic order quantity (EOQ) model and the economic production quantity (EPQ) model to determine the optimal order quantities for purchasing and manufacturing. The developed EOQ model was predicated on the constants of demand rate, holding cost, purchasing cost, and ordering cost.The EPQ model is predicated on the same assumptions as the EOQ model, namely constant holding costs and constant demand. This study aims to identify the citation impact of the most productive countries and journals based on the number of publications on inventory models in a fuzzy environment. About 3510 publications were obtained from the Web of Science between 2004 and 2023. In addition, this study uses “co-word cluster network analysis” to determine how this topic has evolved thematically over time. Additionally, this study used a thematic evolution map, a keywords overlapping map, and strategic maps to quantify and visualise the distribution and impact of this topic’s research fronts at successive periods.

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Section: Dense Inventory Model Under Fuzzy Environmentmentioning

confidence: 99%

Inventory management through Economic Order Quantity Model:A Bibliometric and Scientometric analysis

Dey,

Ray,

Mallik

et al. 2024

Preprint

View full text Add to dashboard Cite

show abstract

“…A and Priya G. [59] by generating α-cut from a triangular parabolic membership function and employing triangle-shaped values. In their study of an EOQ model of growing items with a parabolic dense fuzzy lock demand rate, Maity, De, Pal, and Mondal [60] used non-linear equations to solve a triangular parabolic membership function.…”

Section: Eoq Model Of Growing Items With a Parabolic Dense Fuzzy Lock...mentioning

confidence: 99%

Optimizing Inventory Management: A Comprehensive Analysis of Models Integrating Diverse Fuzzy Demand Functions

Mittal,

Jain,

Pandey

et al. 2023

Mathematics

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This review study provides a comprehensive analysis of the classification of inventory models, with a focus on incorporating various fuzzy demand functions. The incorporation of fuzzy sets theory within inventory models is highlighted as a significant advancement in the field. The study emphasizes the importance of efficiently locating pertinent publications on this topic, rendering it a valuable resource for individuals interested in exploring inventory models that incorporate fuzzy demand functions. There was a need for a systematic and complete examination of recent breakthroughs in fuzzy inventory management. Our objective was to provide an illuminating overview of the significant developments in this field and offer insights into the probable future directions of research. Our evaluation of various model components has unveiled new and underexplored territories that may warrant further exploration. Perhaps it would be prudent to consider the possibility of establishing simpler models or incorporating qualitative methods into existing models and initiating a discourse on this topic.

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“…Additionally, the demand rate is price-sensitive and can be described by a polynomial function. Maity et al [32] developed an EOQ model for fishery culture using a real-life case study that assumes that the growth rate of fish can be estimated by a linear function.…”

Section: ] Gharaei and Almehdawementioning

confidence: 99%

An Inventory Model for Growing Items When the Demand Is Price Sensitive with Imperfect Quality, Inspection Errors, Carbon Emissions, and Planned Backorders

De-la-Cruz-Márquez,

Cárdenas-Barrón,

Porter

et al. 2023

Mathematics

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Inventory models that consider environmental and quality concerns have received some attention in the literature, yet no model developed to date has investigated these features in combination with growing items. Therefore, there is a need to incorporate these three relevant aspects together in a single inventory model to support decisions, compare results, and obtain new knowledge for the complexities of the real world. Moreover, current sustainable inventory management practices aim at mitigating the ecological consequences of an industry while preserving its profitability. The present study aligns with this perspective and introduces an economic order quantity (EOQ) model that considers imperfect quality while also accounting for sustainability principles. More specifically, the model addresses growing items, which have a demand dependent on selling price and the unique ability to grow while being stored in inventory. Additionally, the analysis acknowledges the possibility of classification errors during the inspection process, encompassing both Type-I and Type-II inspection errors. Furthermore, the model permits shortages and ensures that any shortage is completely fulfilled through backorders. The optimization model produces an optimal solution for the proposed model that is derived by optimizing three decision variables: order quantity of newborn items, backordering quantity, and the selling price of perfect items. A numerical example is presented, and the results are discussed. Finally, a sensitivity analysis on variations of parameters such as Type-I and Type-II errors shows that it is advantageous to reduce the percentage of good items that are misclassified as defective (i.e., Type-I error). As there is a direct impact of such errors on sales, it is imperative to address and mitigate this issue. When defective items are mistakenly classified as good Type-II errors, adverse consequences ensue, including a heightened rate of product returns. This, in turn, results in additional costs for the company, such as penalties and diminished customer confidence. Hence, the findings clearly suggest that the presence of Type-I and Type-II errors has a negative effect on the ordering policy and on the total expected profit. Moreover, this work provides a model that can be used with any growing item (including plants), so the decision-maker has the opportunity to analyze a wide variety of scenarios.

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A Study of an EOQ Model of Growing Items with Parabolic Dense Fuzzy Lock Demand Rate

Cited by 13 publications

References 34 publications

Inventory management through Economic Order Quantity Model:A Bibliometric and Scientometric analysis

Inventory management through Economic Order Quantity Model:A Bibliometric and Scientometric analysis

Optimizing Inventory Management: A Comprehensive Analysis of Models Integrating Diverse Fuzzy Demand Functions

An Inventory Model for Growing Items When the Demand Is Price Sensitive with Imperfect Quality, Inspection Errors, Carbon Emissions, and Planned Backorders

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