Multi-objective multi-product sustainable newsvendor management in an emerging economy: Evidence and applications

Hajiagha, Seyed Hossein Razavi; Alaei, Saeed; Mahdiraji, Hannan Amoozad

doi:10.1016/j.jclepro.2021.127466

Cited by 3 publications

(2 citation statements)

References 68 publications

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“…Firms can address environmental concerns in their operations in many ways. Scholars in the inventory management field have also raised some research questions on incorporating sustainability issues into the existing inventory models [2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17]. Among the well-known inventory models, the newsvendor model helps make a single-period inventory decision generally for perishable products.…”

Section: Introductionmentioning

confidence: 99%

“…For multiple periods, there are fixed-order quantity models (e.g., economic order quantity model) and fixed-order interval models (e.g., the order-up-to model). There have been relatively much literature considering sustainability concepts for a newsvendor model [2][3][4][5] and an EOQ model [6][7][8][9][10]. However, research on order-up-to model has not been conducted up to date.…”

Section: Introductionmentioning

confidence: 99%

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An Order-Up-to Inventory Model with Sustainability Consideration

Kwak

2021

Sustainability

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Along with growing interest in environmental concerns these days, significant academic efforts have been exerted to incorporate sustainability issues into the existing inventory models except for fixed-review interval (i.e., order-up-to models). In this study, we develop an order-up-to model considering environment-related costs and investigate the value of this new policy over the naïve one. Results of an extensive simulation study reveal that sustainability consideration reduces the total costs and that its value is higher when the mean demand is higher, when demand is more variable, when the costs of transshipment or inventory holding are lower, or when an ordering setup cost or an additional indirect cost of having inventory are higher. These findings fill the research gap in existing literature and contribute to managerial implications for periodic inventory control in practice.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

An Order-Up-to Inventory Model with Sustainability Consideration

Kwak

2021

Sustainability

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Analysing supply chain coordination mechanisms dealing with repurposing challenges during Covid-19 pandemic in an emerging economy: a multi-layer decision making approach

et al. 2022

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Following the outbreak of the Covid-19 pandemic, there was a serious need for the pharmaceutical industry to combat the disease more quickly and effectively. In this regard, numerous companies set out to repurpose current drugs. The noticed decision has major challenges in various dimensions, including the creation and management of an efficient supply chain. The present study attempts to examine the significance and relationships of the repurposing challenges and analyze the effectiveness of supply chain coordination contracts confronting them. In this regard, a combination of Decision-Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Process (ANP) named DANP method is applied to investigate the relationships and extracting the weights of the mentioned challenges and the multi-criteria optimization and compromise solution technique called VIKOR is employed to prioritize the supply chain coordination contracts found on their impact facing with repurposing challenges. The mentioned techniques have been conducted under the condition of linguistic Z-numbers. The results demonstrated that financial support and digitalization are the most influential challenges. Moreover, collaboration and data availability have the most weight. In addition, four contracts including effort sharing, cost-sharing, credit option and buyback are the best contracts that companies in the merging economy of Iran should concentrate on them. This research proposes a novel framework of decision-making by integrating DANP and VIKOR with linguistic Z-numbers. Additionally, this study takes a new look at the use of coordination contracts from the viewpoint of repurposing challenges which is highlighted particularly during the Covid-19 pandemic.

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A new model to design the suppliers portfolio in newsvendor problem based on product reliability

Modares

Farimani

Emroozi

2023

JIMO

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<p style='text-indent:20px;'>Suppliers' selection problem has always been daunting challenges in the Newsvendor problem. Furthermore, since the failures in the supplier's products cause irreparable damage to the retailer, it is necessary to consider the reliability of products in ordering suppliers' products. This paper develops the Newsvendor model by considering the impactful criteria in supplier selection and product reliability so that the total cost of the chain is minimized in a multi-product and multi-period model with multiple suppliers. While multiple criteria decision making (MCDM) accounts for multiple criteria and their tradeoffs, its application in Newsvendor model is not considered. This paper applies the Bayesian best worst method (BWM), as one of the MCDM methods, for ranking criteria and the fuzzy technique for order of preference by similarity to ideal solution (TOPSIS) for prioritizing the suppliers. Then, the obtained weights are plugged into the model as the inputs of the designed model. A case study with real data in the electronic supply chain is considered. To validate the results obtained by the proposed method, genetic algorithm (GA) and particle swarm optimization (PSO) are leveraged to solve the proposed model. Finally, the efficiency of the designed model is verified through a case study.</p>

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Multi-objective multi-product sustainable newsvendor management in an emerging economy: Evidence and applications

Cited by 3 publications

References 68 publications

An Order-Up-to Inventory Model with Sustainability Consideration

An Order-Up-to Inventory Model with Sustainability Consideration

Analysing supply chain coordination mechanisms dealing with repurposing challenges during Covid-19 pandemic in an emerging economy: a multi-layer decision making approach

A new model to design the suppliers portfolio in newsvendor problem based on product reliability

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