An entropic order quantity inventory model for quality assessment considering price sensitive demand

Sinha, Sudipta; Modak, Nikunja Mohan; Sana, Shib Sankar

doi:10.1007/s12597-019-00406-y

Cited by 16 publications

(7 citation statements)

References 39 publications

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“…De and Pal [10] considered the imperfect item in a bi-objective optimization problem. Sinha et al [38] developed an entropic order quantity model where the demand rate is dependent on selling price and the imperfect items are being screened out.…”

Section: General Overviewmentioning

confidence: 99%

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

Karmakar

Datta

et al. 2021

RAIRO-Oper. Res.

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Brand substitution is common observed phenomenon in daily life. It is the decision makers' economic understanding and potential scheme for business-industries. Also, it provides the flexibility in management and increases the ability to control the production. This paper proposes an integrated supplier-retailer inventory model for substitutable products. Two supplier with two different brand product with their corresponding demand are involved and one retailer sells each of the products. To nullify the complexities of the joint optimization problem, we first develop a deterministic model for three cases: no substitution, partial substitution and full substitution, then we go for its fuzzification. Keeping the financial constraint of each producer, we have studied over the elasticity of the cost parameters by means of triangular dense fuzzy lock set approach with its locking and unlocking property for final decision making. Finally, sensitivity analysis and graphical illustration are made to justify the model.

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Section: General Overviewmentioning

confidence: 99%

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

Karmakar

Datta

et al. 2021

RAIRO-Oper. Res.

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“…In reality, a drop in the selling price will often equate to a significant increment in the demand rate [21]; conversely, an increase in the selling price will most likely decrease the market demand. Relevant studies [22][23][24][25][26] consider demand rate as a function of the selling price, which could be described in various inventory models. Jabbarzadeh et al [27] established a multi-item inventory and pricing model, considering marketing, service activities, trade credit, carbon emissions, and restrictions of production cost and storage space where the demand rate is a power function of service, marketing costs, and selling price.…”

Section: Inventory Model Based On Price-dependent Demandmentioning

confidence: 99%

“…The main contribution of this study is that it is the first to apply game theory (Stackelberg game, where the manufacturer is the leader and the retailer is the follower) perspective to discuss an interactive decision-making of the pricing, production, replenishment, and the co-investment in carbon emission reduction technology between manufacturers and retailers with price-dependent demand and multistage issues of raw materials and finished products inventories. [20] Supply chain Time-varying V Panda et al [21] EOQ Price-dependent Ruidas et al [22] EPQ Price-dependent Sahoo et al [23], Li et al [24], Rahman et al [25], Sinha et al [26] Supply chain Price-dependent Jabbarzadeh et al [27] Supply chain Price-dependent V Liou et al [31], Chern et al [32] Supply…”

Section: Inventory Model Applying Game Theorymentioning

confidence: 99%

A Multistage Sustainable Production–Inventory Model with Carbon Emission Reduction and Price-Dependent Demand under Stackelberg Game

Lee

et al. 2020

Applied Sciences

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This paper investigated a multistage sustainable production–inventory model for deteriorating items (i.e., raw materials and finished goods) with price-dependent demand and collaborative carbon reduction technology investment under carbon tax regulation. The model was developed by first defining the total profit of the supply chain members under carbon tax regulation and, second, considering a manufacturer (leader)–retailer (follower) Stackelberg game. The optimal equilibrium solutions that maximize the manufacturer’s and retailer’s total profits were determined through the method analysis. An algorithm complemented the model to determine the optimal equilibrium solutions, which were then treated with sensitivity analyses for the major parameters. Based on the numerical analysis, (a) carbon tax policies help reduce carbon emissions for both the manufacturer and retailer; (b) most carbon emissions from supply chain operations negatively impact the total profits of both members; (c) the retailer may increase the optimal equilibrium selling price to respond to an increase in carbon emissions from supply chain operations or carbon tax; and (d) autonomous consumption positively affects both members’ optimal equilibrium policies and total profits, whereas induced consumption does the opposite. These findings are very managerial and instructive for companies seeking profits and fulfilling environmental responsibility and governments.

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“…ey find that safety stock plays an important role in recovery from sudden supply delays, and there is a trade-off between backorder and lost sales costs in the recovery plan. When demand is stochastic, optimal inventory policy is the key to manage safety stock [23,24]. However, with decreasing product life cycle and/or increasing product variety, safety inventory may lead to high inventory cost.…”

Section: Disruption Managementmentioning

confidence: 99%

The Optimization of a Virtual Dual Production-Inventory System under Dynamic Supply Disruption Risk

et al. 2020

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Major events such as the COVID-19 pandemic, Olympic Games, and G20 Summit bring about supplier disruption risks and challenges to supply chain management. To help deal with these risks, a virtual dual-sourcing production-inventory system can be deployed. In this paper, we study such a system which consists of a raw material supplier, a manufacturer, and a virtual dual-sourcing contingency supplier. The manufacturer needs to determine the production, procurement, and inventory plan of raw materials. When its supplier is interrupted, the manufacturer may need to adjust the production and inventory plan and work with the contingency supplier. We develop a system dynamics method to simulate the operations in this production-inventory system to identify the approximately optimal order-up-to-level inventory policies. We find that the virtual dual production-inventory strategy can be the optimal contingency policy to deal with supplier dynamic disruption risks. Furthermore, for disruption risk with low frequency and long duration, the manufacturer should increase the safety inventory level before the disruption. Otherwise, it should increase the safety inventory level in every cycle.

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An entropic order quantity inventory model for quality assessment considering price sensitive demand

Cited by 16 publications

References 39 publications

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

An integrated production policy with defective items and stock-out based substitution under triangular dense fuzzy lock set environment

A Multistage Sustainable Production–Inventory Model with Carbon Emission Reduction and Price-Dependent Demand under Stackelberg Game

The Optimization of a Virtual Dual Production-Inventory System under Dynamic Supply Disruption Risk

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