Inventory model based upon order criticality

2021 ◽  
Vol 40 (3) ◽  
pp. 380
Author(s):  
Sri Vanamalla Venkataraman ◽  
Kamal Sanguri
Keyword(s):  
Logistics ◽  
2009 ◽  
Author(s):  
Touping Yang ◽  
Zhixue Liu

The significance of inventory management partake in the rapid growth and development of all organizations. Inventories impacts sales and revenues, customer relations, production and operation costs etc. On the other hand, online shopping became a trendy choice among the web-users, they can buy any product either through online market places or over web stores. The main intention of this paper is to develop an inventory model based on 'Manufacturer-direct' business model with the help of e-commerce trading strategies. Also this proposed model considered the process of recycling and disposal of deteriorating items over 3R approach . In order to maximize the profits and to minimize the waste generation, this model provides optimum values. Numerical examples are illustrated to validate the model.


2013 ◽  
Vol 36 (10-11) ◽  
pp. 1186-1192 ◽  
Author(s):  
Sang-Seon Byun ◽  
Ilangko Balasingham ◽  
Heung-No Lee

2011 ◽  
Vol 474-476 ◽  
pp. 1338-1344
Author(s):  
Biao Zhang ◽  
Di Zhang

An optimal inventory model is proposed in this paper. Firstly, the prerequisite of this model is given out. Under the supposed condition of deterioration, the demand rate of articles depends on the inventory level, meanwhile the status of shortage and partial back-order. The optimal inventory model of fixed free back orders is on this basis. With those numerical values in this model, the optimal ordering cycle and ordering batch of stock system are counted out and the sensitivity is analyzed by using the mathematical software Mathmatica 7.0.


In this paper, we discussed about the imperfect items. In practice items may get damaged due to production or transportation conditions. Each lot receives some imperfect items. This model also considers the effects of business strategies such as optimal order size of raw materials, production rates and unit production costs, and idle time in different areas on the cooperation of marketing systems. The model can be used in industries such as textiles and footwear, chemicals, food. We develop an inventory model based on imperfect products and shortages. We consider demand is constant and continuous. Purpose of this study is not only to find the retailer`s optimal replenishment policies but also to minimize the total average cost. Finally, a numerical example is presented to illustrate the proposed model and sensitivity analysis of the optimal solution concerning parameters is carried out using the Mathematica 10.0 software.


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