scholarly journals A fuzzy random periodic review system with variable lead-time and negative exponential crashing cost

2012 ◽  
Vol 36 (12) ◽  
pp. 6312-6322 ◽  
Author(s):  
Oshmita Dey ◽  
Debjani Chakraborty
Keyword(s):  
Lead Time ◽  
Periodic Review ◽  
Review System ◽  
Crashing Cost ◽  
Negative Exponential ◽  
Fuzzy Random

Safety Inventory under a Periodic Review System

2012 ◽  
Vol 591-593 ◽  
pp. 545-552
Author(s):  
Azanizawati Bt Ma'aram ◽  
Le Tran Trung Kien
Keyword(s):  
Simulation Model ◽  
Hypothesis Testing ◽  
Lead Time ◽  
Service Level ◽  
Periodic Review ◽  
Review System ◽  
Microsoft Excel ◽  
Inventory Cost ◽  
The Impact ◽  
Strong Agreement

The objective of this paper is to derive and verify a formula for calculating safety inventory that satisfies a desired cycle service level in a periodic review system. Stochastic variables, including customer demand and supplier’s lead time, are assumed to be normally distributed. Independent demand items are considered and backorders are not allowed. After deriving the formula, a computerized model simulating a periodic review system is developed by utilizing Microsoft Excel. Hypothesis testing is employed to compare the desired cycle service level with the simulated cycle service level. The result of this paper shows that there is strong agreement between the derived formula and the simulation model. In other words, the derived formula is verified. Furthermore, this simulation model also allows prompt identification of the impact of changes in inventory policy on cycle service level and inventory cost.

Managing Inventories: The Periodic Review System

2006 ◽  
Author(s):  
James R. Freeland ◽  
Robert Landel ◽  
Elliott N. Weiss
Keyword(s):  
Periodic Review ◽  
Review System

scholarly journals Inventory model for deteriorating items with negative exponential demand, probabilistic deterioration and fuzzy lead time under partial back logging

2020 ◽  
Vol 30 (3) ◽  
Author(s):  
Nabendu Sen ◽  
Sumit Saha
Keyword(s):  
Inventory Management ◽  
Lead Time ◽  
Probability Distributions ◽  
Optimal Strategies ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Optimal Time ◽  
Inventory Cost ◽  
Total Inventory ◽  
Negative Exponential

The effect of lead time plays an important role in inventory management. It is also important to study the optimal strategies when the lead time is not precisely known to the decision makers. The aim of this paper is to examine the inventory model for deteriorating items with fuzzy lead time, negative exponential demand, and partially backlogged shortages. This model is unique in its nature due to probabilistic deterioration along with fuzzy lead time. The fuzzy lead time is assumed to be triangular, parabolic, trapezoidal numbers and the graded mean integration representation method is used for the defuzzification purpose. Moreover, three different types of probability distributions, namely uniform, triangular and Beta are used for rate of deterioration to find optimal time and associated total inventory cost. The developed model is validated numerically and values of optimal time and total inventory cost are given in tabular form, corresponding to different probability distribution and fuzzy lead-time. The sensitivity analysis is performed on variation of key parameters to observe its effect on the developed model. Graphical representations are also given in support of derived optimal inventory cost vs. time.

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