A two-warehouse probabilistic model with price discount on backorders under two levels of trade-credit policy

Roy, Sankar Kumar; Pervin, Magfura; Weber, Gerhard

doi:10.3934/jimo.2018167

Cited by 41 publications

(10 citation statements)

References 35 publications

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“…In our model, we formulate a deteriorating inventory model with preservation technology investment under stock-price sensitive demand. Roy et al [33] discovered the effect of two-level trade-credit policy for a probabilistic model.…”

Section: Motivation and Review On Researchmentioning

confidence: 99%

Imperfection with inspection policy and variable demand under trade-credit: A deteriorating inventory model

Roy¹,

Pervin²,

Weber³

2020

Numerical Algebra, Control &Amp; Optimization

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A deteriorating inventory model with imperfect product and variable demand is formulated in this paper. A time-dependent deterioration factor is considered because the rate of deterioration is highly hinging on time. We introduce imperfect quality of production which leads to imperfect items in our proposed model. The retailer adopts inspection policy to pick over the perfect items from imperfect. Type I and Type II, both type of errors are included and the retailer invest some capital to improve the production process quality of the supplier. There is also a penalty cost for the retailer if they deliver some defective items by mistake. Sometime, there is a high amount of demand and, consequently, we assume shortages and partial backorder in our formulated model. The retailer adopts the trade-credit policy for his customers in order to promote market competition. The main objective of the paper is to show that the total cost is globally minimized and we have aimed at reducing the total cycle length, defectiveness of the system and the optimal order size by maximizing the total profit of the system. Then, we present three theorems and prove them to find an easy solution procedure to reduce the total cost of a system. The results are discussed with the help of numerical examples to approve the proposed model. A sensitivity analysis of the optimal solutions for the parameters is also provided. The paper ends with the conclusions and an outlook to possible future studies.

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Section: Motivation and Review On Researchmentioning

confidence: 99%

Imperfection with inspection policy and variable demand under trade-credit: A deteriorating inventory model

Roy¹,

Pervin²,

Weber³

2020

Numerical Algebra, Control &Amp; Optimization

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“…Gautam et al [11] studied on a strategic defect management for sustainable green supply chain. Roy et al [34] developed a two-warehouse inventory model with probabilistic demand and price discount on back-ordered under two levels of trade-credit policy. A deteriorating inventory model was developed by Roy et al [35] with variable demand under trade-credit policy.…”

Section: (D)mentioning

confidence: 99%

Back-ordered inventory model with inflation in a cloudy-fuzzy environment

Barman¹,

Pervin²,

Roy³

et al. 2021

JIMO

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In this paper, an Economic Production Quantity model for deteriorating items with time-dependent demand and shortages including partially back-ordered is developed under a cloudy-fuzzy environment. At first, we develop a crisp model by considering linearly time-dependent demand with constant deterioration rate, constant inflation rate and shortages under partially back-ordered, then we fuzzify the model to archive a decision under the cloudy-fuzzy (extension of fuzziness) demand rate, inflation rate, deterioration rate and the partially back-ordered rate which are followed by their practical applications. In this model, we assume ambiances where cloudy normalized triangular fuzzy number is used to handle the uncertainty in information which is coming from the data. The main purpose of our study is to defuzzify the total inventory cost by applying Ranking Index method of fuzzy numbers as well as cloudy-fuzzy numbers and minimize the total inventory cost of crisp, fuzzy, and cloudy-fuzzy model. Finally, a comparative analysis among crisp, fuzzy and cloudy-fuzzy total cost is carried out in this paper. Numerical example, sensitivity analysis, and managerial insights are elaborated to justify the usefulness of the new approach. A comparative inquiry of the numerical result with a new existing paper is also carried out. This paper ends with a conclusion along with advantages and limitations of our solution approach, and an outlook towards possible future studies.

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“…Pervin et al [18] also studied the effect of deterioration on inventory model with stock-dependent demand under two-level trade credit policy. Recently, Roy et al [24] proposed a two-warehouse with price discount on backorders and trade-credit policy where the demand function was depicted in probabilistic sense. However, deterioration can be controlled by following various Preservation Technology (PT).…”

Section: Motivation and Review On Researchmentioning

confidence: 99%

An integrated vendor-buyer model with quadratic demand under inspection policy and preservation technology

Pervin

Roy

Weber

2020

Hacettepe Journal of Mathematics and Statistics

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An integrated vendor-buyer model for deteriorating items is formulated in this study. To control deterioration rate, the vendor adopts preservation technology. Shortages are allowed for both vendor and buyer. During shortage period, the vendor simply doubles the production rate to meet the demand of buyer. The vendor's demand during non-shortage period follows a constant rate but, the demand is a quadratic decreasing function of time in shortage period. The buyer's demand is a quadratic increasing function of time when shortage does not occur but at shortages period, the demand is constant. The buyer accepts an inspection policy for imperfect product. Total cost is calculated for both the model and integrated system. Thereafter, the model is solved by minimizing the total cost. Numerical examples are given to show the applicability of the model. A sensitivity analysis is done to display the realistic applicability of our model and method.

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A two-warehouse probabilistic model with price discount on backorders under two levels of trade-credit policy

Cited by 41 publications

References 35 publications

Imperfection with inspection policy and variable demand under trade-credit: A deteriorating inventory model

Imperfection with inspection policy and variable demand under trade-credit: A deteriorating inventory model

Back-ordered inventory model with inflation in a cloudy-fuzzy environment

An integrated vendor-buyer model with quadratic demand under inspection policy and preservation technology

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