An application of PSO in a two-warehouse inventory model for deteriorating item under permissible delay in payment with different inventory policies

Bhunia, Asoke Kumar; Shaikh, Ali Akbar

doi:10.1016/j.amc.2014.12.137

Cited by 38 publications

(13 citation statements)

References 45 publications

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“…ii) The spares being in supply Suppose OT ij is the supply and transport time, the quantity of spares being in supply at time t follows the Poisson distribution [26], and the average value is…”

Section: Model Of Spares To Be Receivedmentioning

confidence: 99%

Mission-oriented dynamic optimization model of carrying spares for warship redundant system

Minzhi

Wang

2018

Journal of Systems Engineering and Electronics

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Redundancy is a common structure for warship system, and it is an effective way to improve the reliability of the system. In this paper, warship system is taken as the object of study, based on the system reliability equivalence principle, a spares demand rate calculation method for redundant system is proposed through structure transformation. According to the system analysis method, the general modeling data structure of spares support echelon and system indenture is established, and the mission success probability is taken as the optimization target to build the dynamic optimization model of carrying spares during the process of multi-phase. By introducing the Lagrange multiplier, the spares weight, volume and cost are transformed to the single target of the spares total scale, and the initial Lagrange factors and its dynamic adjustment policy is proposed. In a given example, the main influence factors of the carrying spares project are analyzed, and the study results are in accordance with the reality, which can provide a new approach to mission-oriented carrying spares optimization for the redundant system.

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Section: Model Of Spares To Be Receivedmentioning

confidence: 99%

Mission-oriented dynamic optimization model of carrying spares for warship redundant system

Minzhi

Wang

2018

Journal of Systems Engineering and Electronics

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“…Jaggi, Pareek, Khanna, and Sharma (2014) considered the credit financing in a two-warehouse environment for deteriorating items with price-sensitive demand and fully backlogged shortages. Bhunia and Shaikh (2015) gave an application of particle swarm optimization in a two-warehouse inventory model for deteriorating item under permissible delay in payment with different inventory policies.…”

Section: Introductionmentioning

confidence: 99%

Two-warehouse inventory model for non–instantaneous deteriorating items with optimal credit period and partial backlogging under inflation

Palanivel

Uthayakumar

2015

Journal of Control and Decision

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This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money. We propose the model from the seller's prospective by incorporating the fact that granting the trade credit from the seller to its buyer not only increases sales and revenue but also opportunity cost and default risk. Moreover, in this model, shortages are allowed and partially backlogged. The backlogging rate is dependent on the waiting time for the next replenishment. The purpose of this study is to determine the optimal credit period and the optimal order quantity such that the total profit of the seller is maximised. Some numerical examples are presented for illustrating the proposed inventory model. Furthermore, sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained.

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“…Yu and Ma [50] considered the impact of decision sequence of pricing and quality investment in decentralized assembly system. Bhunia and Shaikh developed two inventory models for deteriorating items one considering selling price dependent demand [4] and other two-warehouse [6]. Maiti and Giri [30] studied a closed loop supply chain considering retail price and quality dependent demand.…”

Section: Introductionmentioning

confidence: 99%

A three-echelon supply chain model with price and two-level quality dependent demand

Roy

Giri

2020

RAIRO-Oper. Res.

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This paper considers a three-echelon supply chain model with one supplier, one manufacturer and one retailer for trading a single product. We assume that the market demand at the retailer’s end is stochastic, but dependent on price and quality of the product. The final product’s quality depends on the manufacturing process and the raw material’s quality. We first develop models for centralized and decentralized scenarios. Then we try to coordinate the decentralized system with some contract mechanism. We show that revenue sharing contract is not able to coordinate the system, but a composite contract comprised of sales rebate and penalty (SRP) with return is able to coordinate the system. Finally, we illustrate the developed model with a numerical example and show the efficiency of SRP with return policy. We graphically show the effects of various model-parameters on the optimal decisions. Most of the existing literature’s focus on the quality of the finished product, but in this model we incorporate the quality of the raw material as a decision variable along with the finished product quality. We also able to coordinate the three echelon model with a composite contract which is seldom addressed in the existing literatures.

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An application of PSO in a two-warehouse inventory model for deteriorating item under permissible delay in payment with different inventory policies

Cited by 38 publications

References 45 publications

Mission-oriented dynamic optimization model of carrying spares for warship redundant system

Mission-oriented dynamic optimization model of carrying spares for warship redundant system

Two-warehouse inventory model for non–instantaneous deteriorating items with optimal credit period and partial backlogging under inflation

A three-echelon supply chain model with price and two-level quality dependent demand

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