An integrated inventory model involving discrete setup cost reduction, variable safety factor, selling price dependent demand, and investment

Dey, Bikash Koli; Sarkar, Biswajit; Sarkar, Mitali; Pareek, Sarla

doi:10.1051/ro/2018009

Cited by 97 publications

(65 citation statements)

References 31 publications

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“…In recent years, Sarkar et al [12] proposed a two-echelon supply chain model with an improvement in a product's quality. A selling-price-dependent integrated model with reduced setup cost was proposed by Dey et al [13]. Recently, Majumder et al [14] proposed a supply chain model for variable production costs with a variable production rate.…”

Section: Introductionmentioning

confidence: 99%

A Two-Echelon Supply Chain Management With Setup Time and Cost Reduction, Quality Improvement and Variable Production Rate

2019

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This model investigates the variable production cost for a production house; under a two-echelon supply chain management where a single vendor and multi-retailers are involved. This production system goes through a long run system and generates an out-of-control state due to different issues and produces defective items. This model considers the reduction of the defective rate and setup cost through investment. A discrete investment for setup cost reduction and a continuous investment is considered to reduce the defective rate and to increase the quality of products. Setup and processing time are dependent on lead time in this model. The model is solved analytically to find the optimal values of the production rate, safety factors, optimum quantity, lead time length, investment for setup cost reduction, and the probability of the production process going out-of-control. An efficient algorithm is constructed to find the optimal solution numerically and sensitivity analysis is given to show the impact of different parameters. A case study and different cases are also given to validate the model.

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Section: Introductionmentioning

confidence: 99%

A Two-Echelon Supply Chain Management With Setup Time and Cost Reduction, Quality Improvement and Variable Production Rate

2019

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“…NA NA NA NA Majumdar et al [44] Rel. NA NA SSMD NA Lead time Dey et al [45] NA Price Quantity dependent SSMD NA SCR Guchhait et al [46] Rel.…”

Section: Literature Reviewmentioning

confidence: 99%

Effects of Unequal Lot Size and Variable Transportation in Unreliable Supply Chain Management

2020

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The effect of unreliable players on the supply chain management with a single-setup-multi-unequal-increasing-delivery-policy (SSMUID) along with a service-dependent demand and investment is discussed in this model. The manufacturer is unreliable which causes an increase of lead time and shortage. For solving the shortage problem and reducing lead time crashing cost (LTCC), an investment is utilized with the variable backorder price discounts. The number of transportation increases due to the new transportation policy and it causes pollution. Besides the fixed transportation and carbon emission cost (FTCEC), a container dependent carbon emission cost is applied. Some investments for setup cost reduction (SCR), ordering cost reduction (OCR), and quality improvement (QI) are considered. The lead time demand follows a normal distribution. The total cost of the supply chain is optimized and the model is tested numerically. The main intent of this study is to solve the shortage problem which occurs due to unreliability of the manufacturer. The study helps to reduce the unreliability issue of the manufacturer. The objective function is solved by using the classical optimization technique. Numerical results show that the discount for partial backorder enhances the profitability of the manufacturer. The sensitiveness of the parameters are discussed through the sensitivity of analysis and some special cases. Managerial insights provide the applicability of this study among different sectors.

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“…Consequently, the relatively unpretentious conditions in classical inventory models fail to cope with recent business criteria in numerous real-life based cases. One single major aspect to the decision-maker (DM) concerning the inventory and production activities is to measure and to control the fluctuating demands [28], such as linear demand [7,71], stock-dependent demand [70], time-dependent demand [50] and price-dependent demand [12]. Over the years, researchers studied several more varieties of consumption tendencies, like quadratic demand [58,62], exponential demand [56], time and price-dependent demand [44] and stock and price-dependent demand [5].…”

Section: Introductionmentioning

confidence: 99%

Optimization of generalized order-level inventory system under fully permissible delay in payment

Mondal

Garai²,

Roy

2021

RAIRO-Oper. Res.

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This article presents one generalized order-level inventory system with fully permissible delay in payment in various trade-credit intervals. Review of existing literature nds few EOQ models under simultaneous considerations of time-dependent generalized demand rate, time-dependent generalized rate of deterioration and time-dependent generalized backordering under fully permissible delay in payment. In those existing studies, the optimal inventory depletion time is independent of demand over the entire cycle. Here, present article frames one generalized order level inventory system with fully permissible delay in payment across various trade-credit intervals. This nds that when the trade-credit period is longer than the inventory depletion time to settle the account, the optimal inventory depletion time is dependent of demand. Under this ambiance, one particular case having time-dependent ramp type demand rate, two variables time-dependent Weibull distribution rate of deterioration and time-dependent backordering rate with fully permissible delay in payment, nds that the optimal inventory depletion time varies inversely over demand in that period. Moreover, the proposed model shrinks to obtain many well-established EOQ models as the special cases to it. Next, a general algorithm determines the various optimal solutions corresponding to seven cases. The managerial insights extracted from sensitivity analysis of parameters include the suggestion to halt the promotional activities so as to foreshorten the demand in shortage period. Also, this analysis attests that the longer waiting period of retailers should be counterbalanced with various promotional activities and anticipated benefits.

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An integrated inventory model involving discrete setup cost reduction, variable safety factor, selling price dependent demand, and investment

Cited by 97 publications

References 31 publications

A Two-Echelon Supply Chain Management With Setup Time and Cost Reduction, Quality Improvement and Variable Production Rate

A Two-Echelon Supply Chain Management With Setup Time and Cost Reduction, Quality Improvement and Variable Production Rate

Effects of Unequal Lot Size and Variable Transportation in Unreliable Supply Chain Management

Optimization of generalized order-level inventory system under fully permissible delay in payment

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