Analysis of Inventory Control Model with Modified Weibully Distributed Deterioration Rate, Partially Backlogged Shortages and Time Dependent Holding Cost

For deteriorating product, there always be a pressure on the company to maximize the profit. In the present model, an effort is made to develop a production inventory control model having two separate warehouses. In most of the study, the demand is assumed as time dependent which is not appropriate; but here authors have considered stock based demand. An approach is taken into consideration that deterioration rate different for different warehouses.

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Analysis of Inventory Control Model for Items Having General Deterioration Rate

Infosys Science Foundation Series - Applied Probability and Stochastic Processes ◽

10.1007/978-981-15-5951-8_18 ◽

2020 ◽

pp. 293-306

Author(s):

V. P. Praveen ◽

M. Manoharan

Keyword(s):

Inventory Control ◽

Control Model ◽

Deterioration Rate ◽

Inventory Control Model

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Research on Multi-Echelon Inventory Optimization for Fresh Products in Supply Chains

Sustainability ◽

10.3390/su13116309 ◽

2021 ◽

Vol 13 (11) ◽

pp. 6309

Author(s):

Yingying Zhang ◽

Yi Chai ◽

Le Ma

Keyword(s):

Supply Chain ◽

Inventory Control ◽

Inventory Management ◽

Fitness Function ◽

Optimal Solution ◽

Control Model ◽

Practical Significance ◽

Deterioration Rate ◽

Inventory Control Model ◽

Fresh Products

Fresh products are perishable and fragile, which easily leads to higher inventory costs and requires reasonable planning of inventory management. Therefore, it is very important for fresh product supply chain systems to have multi-echelon inventory control. However, in past studies, few control models of the multi-echelon inventory considered the deterioration rate of perishable products as the variable factor. In this paper, on the basis of considering the perishable characteristics of fresh products, combining the deterioration rate with the inventory control model, a multi-echelon inventory control model for fresh products is designed and optimized, and the optimal solution from the whole supply chain is obtained through the optimal fitness function by genetic algorithm. Finally, Flexsim is used to simulate the two inventory strategies before and after optimization. After simulation comparison and analysis, it is verified that the optimized inventory control strategy has lower costs. The research results can help supply chain managers of fresh products to make inventory management decisions and save costs, which is of practical significance.

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Optimal Acquisition and Inventory Control for a Remanufacturing System

Discrete Dynamics in Nature and Society ◽

10.1155/2013/120256 ◽

2013 ◽

Vol 2013 ◽

pp. 1-7 ◽

Cited By ~ 1

Author(s):

Zhigang Jiang ◽

Shuo Zhu ◽

Hua Zhang ◽

Yanhong Wang

Keyword(s):

Inventory Control ◽

Control Model ◽

The Other ◽

Planning And Control ◽

Holding Cost ◽

The Difference ◽

Inventory Control Model ◽

Added Uncertainty ◽

And Control ◽

Disposal Cost

Optimal acquisition and inventory control can often make the difference between successful and unsuccessful remanufacturing. However, there is a greater degree of uncertainty and complexity in a remanufacturing system, which leads to a critical need for planning and control models designed to deal with this added uncertainty and complexity. In this paper, a method for optimal acquisition and inventory control of a remanufacturing system is presented. The method considers three inventories, one for returned item and the other for serviceable and recoverable items. Taking the holding cost for returns, recoverable and remanufactured products, remanufacturing cost, disposal cost, and the loss caused by backlog into account, the optimal inventory control model is established to minimize the total costs. Finally, a numerical example is provided to illustrate the proposed methods.

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