The residual time approach for (Q, r) model under perishability, general lead times, and lost sales

Barron, Yonit; Baron, Opher

doi:10.1007/s00186-020-00717-7

Cited by 9 publications

(2 citation statements)

References 36 publications

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“…Managing inventory under such imperfect items is an essential job for industry managers. How much to order and when to order while considering the possibility of defective items are important decisions, and many relevant inventory models are studied (Barron & Baron, 2020;Cárdenas-Barrón et al, 2014;Chang et al, 2005). Especially, some (Q, r ) models were developed under the consideration of shortages cost (Khan et al, 2011;Maddah et al, 2010;Manna & Chaudhuri, 2006).…”

Section: Introductionmentioning

confidence: 99%

“…The effect of safety stock in an (Q, r ) inventory model under stochastic demand in the fuzzy environment was studied by De and Sana (2018); Kumar et al (2016). Recently, an (Q, r ) model was developed under the consideration of available lead time and backorder by Barron and Baron (2020). The number of generations of faulty products increases in an imperfect production system's out-of-control state (Mahata, 2017).…”

Section: Introductionmentioning

confidence: 99%

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Intelligent inventory management with autonomation and service strategy

Dey

Seok

2022

J Intell Manuf

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The manufacturer's service to the customer is one of the critical factors in maximizing profit. This study proposes the innovative (Q, r ) inventory policy integrated with autonomated inspection and service strategy for service-dependent demand. First, an advanced autonomated inspection makes the product error-free. Therefore, this makes customers more satisfied and increases profit. The proposed model decides the optimal investment for such autonomated inspection. Second, three types of services are considered in the study: unpaid, partially paid, and fully paid services. Each type of service has a different service level and the amount of the customer's payment. Our model finds the optimal service strategy based on the variable conditions along with the optimal quantity and reorder level of inventory policy. Numerical analyses are made for different service strategies, along with a sensitivity analyses for various critical parameters. Results show that the full paid service is 84.88% beneficial compared to the unpaid service, and the autonomated inspection policy is 5.02% beneficial compared to the traditional ones. The increase in unit servicing costs always increases the profit of the company.

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