scholarly journals Two Warehouse Optimal Inventory Model for Non-Instantaneous Deteriorating Items

2018 ◽  
Vol 7 (4.10) ◽  
pp. 946
Author(s):  
K. Rangarajan ◽  
K. Karthikeyan
Keyword(s):  
Present Article ◽  
Inventory Model ◽  
Numerical Examples ◽  
Deterioration Rate ◽  
Ordering Policy ◽  
Stock Model ◽  
Optimal Ordering Policy ◽  
Optimal Ordering ◽  
Total Stock ◽  
Constant Deterioration

In this article, an optimal ordering policy for the stock model of items, whose deterioration starts after a certain period of time under the  dispatching policy Last in First Out (i.e. LIFO) in owned and rented warehouses is presented  with the demand of the product increases up to a certain point and that remains constant, deterioration rate which depends on time and  inflation.  The main aim of the present article is to find an optimal    inventory model, which minimizes the total stock cost. Finally, this model is analyzed through by numerical examples . 

Retailer's Optimal Ordering Policy under Conditions of Allowable Shortage and Two-Level Trade Credit Derived without Derivatives

2013 ◽  
Vol 694-697 ◽  
pp. 3428-3433
Author(s):  
Fei Hu
Keyword(s):  
Differential Calculus ◽  
Trade Credit ◽  
Algebraic Method ◽  
Optimal Order ◽  
Order Quantity ◽  
Numerical Examples ◽  
Ordering Policy ◽  
Optimal Order Quantity ◽  
Optimal Ordering Policy ◽  
Optimal Ordering

An inventory model was developed to determine an ordering policy for the retailer under conditions of allowable shortage and two levels of delay permitted. We present a simple algebraic method to replace the use of differential calculus for determining the retailer's optimal ordering policy. A theorem is presented to obtain the optimal order quantity, and numerical examples are given to illustrate the results obtained in this paper.

scholarly journals Integrated Inventory Model for Deteriorating Items with Price-Dependent Demand under Quantity-Dependent Trade Credit

2013 ◽  
Vol 2013 ◽  
pp. 1-8 ◽  
Author(s):  
Karuppuchamy Annadurai
Keyword(s):  
Trade Credit ◽  
Optimal Solution ◽  
Inventory Model ◽  
Selling Price ◽  
Business Decision ◽  
Integrated Inventory Model ◽  
Ordering Policy ◽  
Integrated Inventory ◽  
Optimal Ordering Policy ◽  
Optimal Ordering

This paper explores an integrated inventory model when the deterioration rate follows exponential distribution under trade credit. Here, it is assumed that demand rate is a function of selling price and the permissible delay in payment depends on the order quantity. In the model shortages are completely backlogged. The maximization of the total profit per unit of time is taken as the objective function to study the retailer’s optimal ordering policy. This paper also presents a practical application example where the proposed inventory model is utilized to support business decision making. Particularly, the model developed in the paper could be useful in the area of supply chain management. Finally, sensitivity analysis of the optimal solution with respect to major parameters is carried out. Our result illustrates that this model can be quite useful in determining the optimal ordering policy when the trade credit period is being analyzed.

scholarly journals Optimal ordering policy for a two-warehouse inventory model use of two-level trade credit

2017 ◽  
Vol 13 (4) ◽  
pp. 1661-1683
Author(s):  
Jui-Jung Liao ◽  
◽  
Wei-Chun Lee ◽  
Kuo-Nan Huang ◽  
Yung-Fu Huang ◽  
...  
Keyword(s):  
Trade Credit ◽  
Inventory Model ◽  
Ordering Policy ◽  
Optimal Ordering Policy ◽  
Optimal Ordering

scholarly journals Coordination in a Single-Retailer Two-Supplier Supply Chain under Random Demand and Random Supply with Disruption

2013 ◽  
Vol 2013 ◽  
pp. 1-12 ◽  
Author(s):  
Fei Hu ◽  
Cheng-Chew Lim ◽  
Zudi Lu ◽  
Xiaochen Sun
Keyword(s):  
Supply Chain ◽  
Risk Sharing ◽  
Side Payment ◽  
Random Demand ◽  
Numerical Examples ◽  
Ordering Policy ◽  
Production Quantity ◽  
Optimal Ordering Policy ◽  
Buy Back ◽  
Optimal Ordering

This paper studies the coordination issue of a supply chain consisting of one retailer and two suppliers, a main supplier and a backup supplier. The main supplier’s yield is subject to disruption and the retailer faces a random demand. We determine the retailer’s optimal ordering policy and the main supplier’s production quantity that maximize expected profit of the centralized supply chain. We also analyze the decentralized scenario, and a combination of overproduction risk sharing and buy-back contracts with a side payment from/to the backup supplier is provided to coordinate the supply chain. Numerical examples are given to gain some qualitative insights.

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