On the distribution-free continuous review (<i>Q, r, L</i>) inventory model with lead-time-dependent partial backlogging

Bhuiya, Sushil Kumar; Ghosh, Debdas; Chakraborty, Debjani

doi:10.1080/17509653.2018.1563873

Cited by 4 publications

(3 citation statements)

References 36 publications

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“…We list comparisons among our new model and those existing systems to illustrate our contribution to the academic society (Table 1). Aiello et al [20] Avinadav [34] Avinadav and Arponen [13] Avinadav et al [14] Avinadav et al [18] Avinadav et al [27] Bhuiya et al [40] Chernonog [35] Chernonog andAvinadav [31] Chuang and Lin [21] De Giovanni [9] Demirag [28] Ganguly et al [41] Gładysz et al [7] Hanukov et al [32] Hanukov et al [36] Herbon [19] Hota et al [42] Khan et al [43] Kim et al [44] Krommyda et al [37] Lee et al [3] Leśniewski and Bartoszewicz [15] Lin et al [11] Ma [22] Malik and Sarkar [10] Mishra et al [45] Muriana [23] Muriana [25] Muriana [29] Muriana [38] Orynycz et al [8] Sarkar et al [1] Sharma et al [30] Taleizadeh et al [46] Yang et al [12] Zimpel-Leal and Lettice [4] Sarkar [47] Sarkar [48] Sepehri et al [49] This study Abbreviations for the first row: S1: Sustainable; B: Backordering; L: Lean management; S2: Supply chain; P1: Pricing; S3: Shelf-life; W: Waste management; P2: Perishable.…”

Section: A Literature Review Among Modelsmentioning

confidence: 99%

Inventory Model with Fixed Shelf Life under Generalized Non-Increasing Demand

2021

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In this paper, we develop an economic order quantity (EOQ) model for fixed shelf-life items and a non-increasing demand. The objective of this model is to maximize the total profit. We find the criterion to decide (i) the interior maximum solution or (ii) the boundary maximum solution. Eight numerical examples are given to illustrate all possible scenarios of this generalized model. Our results identify a scenario for which the maximum profit is always negative. This is highly relevant for firms in the public sector operating at a financial loss.

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Section: A Literature Review Among Modelsmentioning

confidence: 99%

Inventory Model with Fixed Shelf Life under Generalized Non-Increasing Demand

2021

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“…Inventory model analysis for industrial operation and application management appears to be significantly essential and helpful. The inventory model evaluates and identifies the order quantity and reorder point in a cycle while minimizing system cost, including ordering, maintenance, and shortage costs (Bhuiya et al, 2019). The optimal control theory, regarded as an appropriate approach for modeling such complex networks, is considerably influential in evaluating system performance and, ultimately, in making optimal decisions; hence, this study proposes a model using the optimal control theory for this purpose.…”

Section: Introductionmentioning

confidence: 99%

Improvement of multi-item order systems and inventory management models using optimal control theory

Nakhaeinejad

Zare

Habibi

et al. 2022

Transactions of the Institute of Measurement and Control

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In the competitive market, applying effective and efficient inventory control and order management methods to reduce costs and improve service efficiency and quality, leading to profit maximization, becomes an absolute necessity at the organizational and supply chain level. Therefore, this study used the optimal control theory to propose an order system and inventory management model. The model is presented from the company’s resourcing stage with a desirable accountability level from the supplier side in a continuous review period with dynamic multi-item demand and budget constraints. In the present model, the order was regarded as a time-dependent function and a control variable. In addition, the need for each item is time-dependent and specified. The present model indicates the order and inventory system as an optimal control problem. In addition, Pontryagin’s maximum principle for optimal control problems, Generalized Reduced Gradient Method (GRG), and Kuhn–Tucker conditions were used to seek the optimal order. The model aimed to maximize the total order profit and inventory management systems. Finally, the results were presented numerically and graphically, and some management decisions were derived.

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“…Soni et al [21] considered the effects of lost sales and quality improvements in an imperfect production system in a fuzzy environment. Bhuiya et al [22] extended Sana and Goyal's model [23] by calculating the optimal order quantity, reorder point, and lead-time simultaneously in a random framework, as well as considering uncertain demand to be a fuzzy random variable. Dey [24] developed an integrated single-vendor/single-buyer imperfect production-inventory model in which fuzziness and randomness simultaneously appear in a mixed environment.…”

Section: Introductionmentioning

confidence: 99%

A Continuous Review Production-Inventory System with a Variable Preparation Time in a Fuzzy Random Environment

Mahapatra

Soni²,

Mahapatra

et al. 2021

Mathematics

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With the increase in the varieties products and the increasing uncertainty about product demand, the production preparation time is a significant factor in addressing these issues. The trade-off between the reduction of the production preparation time and the associated cost remains a critical decision. With this backdrop, this study presents a continuous review production-inventory model with a variable production preparation time and a time-dependent setup cost. The demand during the preparation time is captured through a min-max distribution-free approach. In a stochastic framework, the order quantity, reorder point, and setup time are optimized by minimizing the expected cost considering the time-value effect. Further, a fuzzy model is formulated to tackle the imprecise nature of the production setup time and demand. Two algorithms are developed using an analytical approach to obtain the optimal solution. A numerical illustration is given to present the key insights of the model for effective inventory management. It is observed that order quantity and total cost are more sensitive at the lower side of the optimal setup time rather than at the higher side. The discount rate is also found to be a sensitive factor while minimizing the total expected cost.

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On the distribution-free continuous review (Q, r, L) inventory model with lead-time-dependent partial backlogging

Cited by 4 publications

References 36 publications

Inventory Model with Fixed Shelf Life under Generalized Non-Increasing Demand

Inventory Model with Fixed Shelf Life under Generalized Non-Increasing Demand

Improvement of multi-item order systems and inventory management models using optimal control theory

A Continuous Review Production-Inventory System with a Variable Preparation Time in a Fuzzy Random Environment

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