Optimal manufacturer-buyer cooperative inventory models under unequal shipment policy with emergency replacement of sub-standard items

We consider two model variants of a production-inventory system. The system is characterized by a producing machine which is susceptible to failure following which it must be repaired to make it operative again. The machine's production can also be stopped deliberately because of stocking capacity limitations. During ON periods the input into the buffer is continuous and uniform (until a threshold is reached), whereas during OFF periods the output from the buffer is a compound Poisson process. We are interested in computing the equilibrium content level process under the assumption that full backlogging is allowed. In the first model, variant OFF periods are independent of the demand process, and in the second variant, they are determined and controlled in accordance with a certain level crossing stopping rule.

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Multi-Location Inventory Model Considering Bidirectional and Unidirectional Transshipments Simultaneously

Advanced Materials Research ◽

10.4028/www.scientific.net/amr.694-697.2742 ◽

2013 ◽

Vol 694-697 ◽

pp. 2742-2745

Author(s):

Jin Hong Zhong ◽

Yun Zhou

Keyword(s):

Process Model ◽

Approximate Calculation ◽

Inventory Model ◽

Inventory System ◽

Death Process ◽

Birth And Death Process ◽

Inventory Models ◽

Continuous Review ◽

Poisson Demand ◽

Queue Theory

Abstract. A cross-regional multi-site inventory system with independent Poisson demand and continuous review (S-1,S) policy, in which there is bidirectional transshipment between the locations at the same area, and unidirectional transshipment between the locations at the different area. According to the M/G/S/S queue theory, birth and death process model and approximate calculation policy, we established inventory models respectively for the loss sales case and backorder case, and designed corresponding procedures to solve them. Finally, we verify the effectiveness of proposed models and methods by means of a lot of contrast experiments.

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State-of-the-art literature review on inventory models for perishable products

Journal of Advances in Management Research ◽

10.1108/jamr-09-2017-0091 ◽

2018 ◽

Vol 15 (3) ◽

pp. 306-346 ◽

Cited By ~ 12

Author(s):

Vaibhav Chaudhary ◽

Rakhee Kulshrestha ◽

Srikanta Routroy

Keyword(s):

Inventory Management ◽

Systemic Review ◽

Current Status ◽

Future Research ◽

Inventory Models ◽

Research Gaps ◽

Content Type ◽

Perishable Items ◽

Perishable Inventory ◽

The Future

PurposeThe purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.Design/methodology/approachIn total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.FindingsThere are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.Research limitations/implicationsOnly peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.Practical implicationsStress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.Originality/valueThe current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

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