scholarly journals The correct process of arguments of the solution procedure on the inventory model for deteriorating items with trapezoidal type demand rate in supply chain management

2012 ◽  
Vol 25 (11) ◽  
pp. 1901-1905 ◽  
Author(s):  
Kun-Jen Chung
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Solution Procedure ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Correct Process ◽  
Chain Management ◽  
Demand Rate

scholarly journals Implementing Green Supply Chain Management for Online Pharmacies through a VADD Inventory Model

2019 ◽  
Vol 16 (22) ◽  
pp. 4454 ◽  
Author(s):  
Yan-Kwang Chen ◽  
Fei-Rung Chiu ◽  
Yu-Cheng Chang
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Solution Procedure ◽  
Inventory Model ◽  
Green Supply Chain Management ◽  
Green Supply Chain ◽  
Chain Management ◽  
Web Interfaces ◽  
Online Pharmacy ◽  
Online Pharmacies

Online pharmacies are an important part of the modern healthcare system. They interact with customers through well-designed web interfaces to deliver the healthcare customers need. In addition to well-designed web interfaces, online pharmacies rely on an effective supply chain system to provide medical supplies and services, and especially effective inventory management for supply systems. As green supply chain management (GSCM) becomes increasingly considered by countries, how to develop a sustainable inventory model that takes into account the revenue growth of an online pharmacy while preventing waste and reducing energy costs has become very important. In line with this trend, the study develops a sustainable inventory model that focuses on both economic aspect (profit) and environmental aspect (losses from excessive inventory) within a framework of a single period multi-product inventory model. Specifically, the sustainable inventory model applies the visual-attention-dependent demand (VADD) rate to characterize customer demand in an online trading environment, thereby seeking a profitable marketing strategy and reducing losses due to excessive inventory. Since the complexity of model optimization will drastically increase due to the inclusion of many products in the problem, a Genetic Algorithm (GA) based solution procedure is proposed to increase the feasibility of the proposed model in solving real problems. The sustainable inventory model and the solution procedure are illustrated, compared, and discussed with an online pharmacy example. Additionally, a sensitivity analysis is formulated to study the influence of model parameters on the model solution, the loss of unsold inventory that results in a waste of resources and energy, and the profit of online pharmacies.

Optimal Ordering Strategy of a Replenishment Policy for Deteriorating Items Under Retailer’s Partial Trade Credit Policy

2011 ◽  
Vol 2 (2) ◽  
pp. 78-94 ◽  
Author(s):  
Gour Chandra Mahata ◽  
Puspita Mahata
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Trade Credit ◽  
Cost Minimization ◽  
Deteriorating Items ◽  
Variable Cost ◽  
Inventory Policy ◽  
Chain Management ◽  
Partial Trade Credit ◽  
Replenishment Policy

This paper investigates the economic order quantity inventory model for a retailer under two levels of trade credit to reflect the supply chain management situation. It is assumed that the retailer maintains a powerful position and can obtain full trade credit offered by supplier, yet the retailer just offers the partial trade credit to customers. Under these conditions, the retailer can obtain the most benefits. This study also investigates the retailer’s inventory policy for deteriorating items in a supply chain management situation as a cost minimization problem. The present study shows that the annual total variable cost for the retailer is convex, that is, a unique solution exists. Mathematical theorems and algorithms are developed to efficiently determine the optimal inventory policy for the retailer. The results in this paper generalize some already published results. Finally, numerical examples are given to illustrate the theorems and obtain managerial phenomena.

scholarly journals Impact of Energy and Carbon Emission of a Supply Chain Management with Two-Level Trade-Credit Policy

Energies ◽  
2021 ◽  
Vol 14 (6) ◽  
pp. 1569
Author(s):  
Vandana ◽  
S. R. Singh ◽  
Dharmendra Yadav ◽  
Biswajit Sarkar ◽  
Mitali Sarkar
Keyword(s):  
Supply Chain ◽  
Energy Consumption ◽  
Supply Chain Management ◽  
Carbon Emission ◽  
Trade Credit ◽  
Selling Price ◽  
Chain Management ◽  
Optimum Energy ◽  
Demand Rate ◽  
Dependent Demand

Supply chain management aims to integrate environmental thinking with efficient energy consumption into supply chain management. It includes a flexible manufacturing process, more product delivery to customers, optimum energy consumption, and reduced waste. The manufacturing process can be made more flexible through volume agility. In this scenario, production cannot be constant, and with the concept of volume agility, production is taken as a decision variable under the effect of optimum energy consumption. Considering a two-echelon supply chain, we consider a producer and supplier with two-level-trade-credit policies (TLTCP) with the optimum consumption. To reduce the integrated total inventory cost, we believe that demand is a function of the credit period and selling price. The cost function is analyzed, either with the credit period dependent demand rate or with the selling price dependent demand rate through the numerical examples under energy costs. Energy and carbon emission costs are introduced in setup/ordering cost, holding cost, and item cost for producer and supplier. The effect of inflation on the total cost cannot be ignored; this model is being developed for deteriorating items with the simultaneous impact of volume agility, energy, carbon emission cost, and two-level-trade-credit policies with inflation. This supply chain model was solved analytically and obtained the optimum decision variables in a quasi-closed form solution. An illustrative theorem is being utilized to analyze the optimum result for all the decision parameters. The convexity of the objective function is being obtained analytically as well as graphically. Finally, numerical examples and sensitivity analysis are employed to illustrate the present study and with managerial insights.

scholarly journals An integrated supply chain model for the perishable items with fuzzy production rate and fuzzy demand rate

2011 ◽  
Vol 21 (1) ◽  
pp. 47-64 ◽  
Author(s):  
Chaman Singh ◽  
S.R. Singh
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Production Rate ◽  
Fuzzy Model ◽  
Extension Principle ◽  
Decision Variable ◽  
Chain Model ◽  
Chain Management ◽  
Perishable Items ◽  
Demand Rate

In the changing market scenario, supply chain management is getting phenomenal importance amongst researchers. Studies on supply chain management have emphasized the importance of a long-term strategic relationship between the manufacturer, distributor and retailer. In the present paper, a model has been developed by assuming that the demand rate and production rate as triangular fuzzy numbers and items deteriorate at a constant rate. The expressions for the average inventory cost are obtained both in crisp and fuzzy sense. The fuzzy model is defuzzified using the fuzzy extension principle, and its optimization with respect to the decision variable is also carried out. Finally, an example is given to illustrate the model and sensitivity analysis is performed to study the effect of parameters.

scholarly journals An imperfect production inventory model with advance payment and credit period in a two-echelon supply chain management

2020 ◽  
Author(s):  
J.K. DEY ◽  
Barun Khara ◽  
Shyamal Kumar Mondal
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Inventory Model ◽  
Production Cycle ◽  
Optimum Number ◽  
Chain Management ◽  
Purchasing Cost ◽  
Imperfect Production ◽  
Advance Payment ◽  
Production Inventory

This paper presents an integrated imperfect production inventory model under two layer supply chain management. To ensure the orders, manufacturer convinces the retailer to pay a percentage of the purchasing cost prior to replenish the products and offers the facilities such as (i) delay in payment on the remaining part of the purchasing cost and (ii) free transportation on the basis of advance payment amount. Time dependent development cost is incurred to maintain the reliability of the production system and as a result it reduces the imperfectness of the product during production. Under such circumstances, an integrated profit function has been developed to find the optimum number of production cycle, optimum number of replenishment cycle and hence reliability parameter of the manufacturing system, replenishment quantity for the retailer which maximize the integrated profit. Branch and Bound technique is used to obtain the integer solutions. Furthermore, we derived some useful lemmas and algorithms to obtain the optimum solution. Finally, the model has been illustrated with some numerical examples exploring the sensitivity analysis with respect to some parameters and obtains some managerial insights.

Optimal Ordering Strategy of a Replenishment Policy for Deteriorating Items under Retailer’s Partial Trade Credit Policy

2012 ◽  
pp. 186-202
Author(s):  
Gour Chandra Mahata ◽  
Puspita Mahata
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Trade Credit ◽  
Deteriorating Items ◽  
Variable Cost ◽  
Inventory Policy ◽  
Chain Management ◽  
Partial Trade Credit ◽  
Full Trade Credit ◽  
Cost Minimization Problem

This paper investigates the economic order quantity inventory model for a retailer under two levels of trade credit to reflect the supply chain management situation. It is assumed that the retailer maintains a powerful position and can obtain full trade credit offered by supplier, yet the retailer just offers the partial trade credit to customers. Under these conditions, the retailer can obtain the most benefits. This study also investigates the retailer’s inventory policy for deteriorating items in a supply chain management situation as a cost minimization problem. The present study shows that the annual total variable cost for the retailer is convex, that is, a unique solution exists. Mathematical theorems and algorithms are developed to efficiently determine the optimal inventory policy for the retailer. The results in this paper generalize some already published results. Finally, numerical examples are given to illustrate the theorems and obtain managerial phenomena.

Sign in / Sign up

Export Citation Format

Share Document