scholarly journals COVID-19 SOCIAL DISTANCING AND PROFIT MAXIMIZATION INVENTORY MODEL WITH OVERAGE

2021 ◽  
Vol 9 (1) ◽  
pp. 704-708
Author(s):  
Nivetha Martin, A. Aleeswari ,P. Pandiammal, N. Ramila Gandhi
Keyword(s):  
Inventory Management ◽  
Research Work ◽  
Profit Maximization ◽  
Inventory Model ◽  
Special Focus ◽  
The Novel ◽  
Social Distancing ◽  
Novel Approach ◽  
Proposed Model ◽  
Optimal Quantity

Goal: This research work aims in presenting the impacts of social distancing on the societal domain in particularly with the special focus on inventory management, the accelerating fuel of the production sectors. A profit maximization inventory model comprises of overage management, waste disposal and product propagation is proposed. Design / Methodology / Approach: A mathematical model with the objective of profit maximization and overage management is developed to cater the needs of the production sectors at times of pandemic situation. Results: This model yields the optimal quantity (Qα) that maximizes the expected aggregate profit per unit of time. Limitations of the investigation: This research is of exploratory kind and the lack of similar research in the literature locks the opportunity of comparison, also the proposed model is a more generalized in nature. Practical implications: The proposed maximization model will certainly assist the decision makers to handle the situations of overage caused by pandemic social distancing. Originality/Value: The combination of profit maximization, overage management in the context of COVID 19 social distancing is modelled to benefit the production sectors and this is the novel approach of this article.

scholarly journals An Inventory Model based on Manufacturer-Direct Business Model with the help of E-Commerce Trading Strategies

2019 ◽  
Vol 8 (6S4) ◽  
pp. 507-512
Keyword(s):  
Inventory Management ◽  
Business Model ◽  
Customer Relations ◽  
Inventory Model ◽  
Trading Strategies ◽  
Waste Generation ◽  
Model Based ◽  
Operation Costs ◽  
Proposed Model ◽  
Production And Operation

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.

scholarly journals Blood platelet bank inventory management: an approximate dynamic programming approach

2021 ◽  
Author(s):  
Usama S. Albdulwahab
Keyword(s):  
Inventory Management ◽  
Blood Platelets ◽  
Blood Platelet ◽  
Inventory Model ◽  
Blood Bank ◽  
Artificial Blood ◽  
Blood Types ◽  
Proposed Model ◽  
Supply Model ◽  
Right To Refuse

Blood platelets are precious and highly perishable; their supply and demand suffer from significant variation. Consequently, the inventory management of platelets is an actual, contemporary prob- lem of considerable human interest. Although many researchers have solved a plethora of inventory models, their solutions have faced various challenges. This dissertation models some of these chal- lenges, alongside expenses and stock levels. This dissertation is based on four key objectives: (1) to develop a blood platelet inventory model that can represent an actual blood bank inventory, while overcoming the problem's curse of dimensionality; (2) to look for the best issuing policy based on the proposed model that can serve different incoming blood platelet demands; (3) to analyze the effect of having a new, artificial blood platelet alongside the existing natural eight blood types; and (4) to enhance the proposed model for a dual-supplied regional blood platelet bank that serves a network of hospitals. Blood platelet inventory management model is a multi-period, multi-product model that considers the eight natural blood types with uncertain demand, and deterministic lead times, alongside the artificial platelet and patients right to refuse it. The study is supported by both a review of literature and a testing data provided by the Canadian Blood Service. The findings show that modeling blood platelet inventory management, including the eight blood types and their ages, represents the actual-life model without any need for downsizing. It also leads to significantly reductions in shortages and outdates while increasing reward gained and maintaining minimal inventory levels. Compared to a single supply model, the dual supply model give less shortage and outdate rates. The regional blood bank inventory model considers the fact that patients have the right to refuse transfusion using artificial blood platelets. Finally, if the percentage of artificial supply in the inventory is more than 30% and the rate of patient acceptance is more than 30%, then both outdate and shortage percentages are below 1%.

scholarly journals Analysis of Inventory Level Optimization Using PSONN Model and Fuzzy Logic Approach

2019 ◽  
Vol 5 (10) ◽  
pp. 1-6
Author(s):  
Yogesh . ◽  
Sudhir Shrivastava
Keyword(s):  
Inventory Management ◽  
Raw Materials ◽  
Research Work ◽  
Inventory Model ◽  
Inventory Level ◽  
Financial Loss ◽  
Area Of Interest ◽  
Employee Attrition ◽  
Fuzzy Logic Approach ◽  
Artificial Intelligence Models

Raw materials, intermediate goods and finished goods are termed as inventories while considering it as portion of business’s assets which can be considered as prepared or are prepared for sale. One of the suitable solutions is to design optimal inventory model. Major concern of industry is to design suitable inventory model. Some of the existing inventory management research work are discussed in literature. But this field is still a big area of interest. Many research works used artificial intelligence models for inventory management. One amongst the area for inventory management is worker behavior in a company. So, employees are taken into account to be as an inventory that contributes in growth of an organization. Employee attrition may be a big issue for the organizations specially once trained, technical and key staff leave for a far better chance from the organization. This results in financial loss to replace a trained employee. Therefore, this paper uses the current and past employees’ data to analyze attrition behavior of employees and to provide bonus/promotion to employees having non attrition behavior by using PSONN and fuzzy rules. The result shows that the efficiency of model is improved with respect to existing methods by approximately 2%.

scholarly journals Sensory Panel Performance Evaluation—Comprehensive Review of Practical Approaches

2021 ◽  
Vol 11 (24) ◽  
pp. 11977
Author(s):  
László Sipos ◽  
Ákos Nyitrai ◽  
Géza Hitka ◽  
László Ferenc Friedrich ◽  
Zoltán Kókai
Keyword(s):  
Performance Evaluation ◽  
Initial Point ◽  
Testing Procedure ◽  
Test Method ◽  
Special Focus ◽  
The Novel ◽  
Novel Approach ◽  
Sensory Activity ◽  
Scale Usage ◽  
Meta Analyses

Sensory assessors determine the result of sensory analysis; therefore, investigation of panel performance is inevitable to obtain well-established results. In the last few decades, numerous publications examine the performance of both panelists and panels. The initial point of any panelist measures are the applied selection methods, which are chosen according to the purpose (general suitability or product-specific skills). A practical overview is given on the available solutions, methods, protocols and software relating to all major panelist and panel measure indices (agreement, discrimination, repeatability, reproducibility and scale usage), with special focus on the utilized statistical methods. The novel approach of the presented methods is multi-faceted, concerning time factor (measuring performance at a given moment or over a period), the level of integration in the sensory testing procedure and the target of the measurements (panelist versus panel). The present paper supports the choice of the performance parameter and its related statistical procedure. Available software platforms, their accessibility (open-source status) and their functions are thoroughly analyzed concerning panelist or whole panel evaluation. The applied sensory test method strongly defines the applicable performance evaluation tools; therefore, these aspects are also discussed. A special field is related to proficiency testing. With the focus on special activities (product competitions, expert panels, food and horticultural goods), practical examples are given. In our research, special attention was given to sensory activity in companies and product experts or product-specific panels. Emerging future trends in this field will involve meta-analyses, application of AI and integration of psychophysics.

scholarly journals Application of acidic protease in the pickling to simplify the pelt bating process

2021 ◽  
Vol 3 (1) ◽  
Author(s):  
Xu Zhang ◽  
Mengchu Gao ◽  
Sadaqat Ali Chattha ◽  
Yiwen Zhu ◽  
Biyu Peng ◽  
...  
Keyword(s):  
Research Work ◽  
Collagenolytic Activity ◽  
The Novel ◽  
Leather Industry ◽  
Quantitative Characterization ◽  
Environment Friendly ◽  
Novel Approach ◽  
Pickling Process ◽  
Better Than

Abstract Traditionally, universally used pelt bating technologies rely on the application of trypsin, neutral and alkaline microbial proteases but suffer from complicated operation, limited bating efficiency and unsatisfactory leather performance. Therefore, devising a new pelt bating approach to achieve high bating efficiency and excellent leather performance has always been wished for by the leather industry. To pursue this goal, years of persistent research work enabled us to develop a novel approach for pelt bating by means of acidic proteases in pickling process. Initially, basic enzymatic characteristics and bating effectiveness of several typical acidic proteases in pelt pickling medium were investigated; then, the bating effectiveness through the quantitative characterization of protease activity of the optimal acidic protease was compared with that of the conventional bating enzyme. The results indicated that all of the selected acidic proteases had good salt-tolerance and exhibited optimum activity at pH 3.0–4.0. The novel pickling-bating method based on microbial origin acidic protease L80A led to an outstanding performance on pelt bating at the dosage of 150 U/mL of collagenolytic activity. The bating effectiveness of acidic protease L80A was comparable to and even better than that of trypsin BEM due to its moderate proteolytic ability. Moreover, the deep and even penetration of acidic protease in the pelt permitted it to produce soft, organoleptically stable and overall better quality crust leather than that of the conventional trypsin bating method. Additionally, pelt bating was performed along with the pickling process without extra inactivation and washing operation, making the bating operation more efficient, economical, and environment friendly. Results had made us to conclude that this cutting-edge acidic proteases based pickling-bating method could be the first step/ way forward to replace the decades-old traditional pelt bating technology.

scholarly journals An Inventory Model based on Manufacturer-Direct Business Model with the help of E-Commerce Trading

2019 ◽  
Vol 8 (6S4) ◽  
pp. 1487-1492
Keyword(s):  
Inventory Management ◽  
Business Model ◽  
Customer Relations ◽  
Inventory Model ◽  
Trading Strategies ◽  
Waste Generation ◽  
Model Based ◽  
Operation Costs ◽  
Proposed Model ◽  
Production And Operation

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.

scholarly journals Impact of Trapezoidal Demand and Deteriorating Preventing Technology in an Inventory Model in Interval Uncertainty under Backlogging Situation

Mathematics ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 78
Author(s):  
Rajan Mondal ◽  
Ali Akbar Shaikh ◽  
Asoke Kumar Bhunia ◽  
Ibrahim M. Hezam ◽  
Ripon K. Chakrabortty
Keyword(s):  
Inventory Management ◽  
Optimization Problem ◽  
Mathematical Formulation ◽  
Optimal Solution ◽  
Inventory Model ◽  
Interval Uncertainty ◽  
Swarm Optimization ◽  
Preservation Technology ◽  
Proposed Model ◽  
The Impact

The demand for a product is one of the important components of inventory management. In most cases, it is not constant; it may vary from time to time depending upon several factors which cannot be ignored. For any seasonal product, it is observed that at the beginning of the season, demand escalates over time, then it is stable and after that, it decreases. This type of demand is known as the trapezoidal type. Also, due to the uncertainty of customers’ behavior, inventory parameters are not always fixed. Combining these two concepts together, an inventory model is formulated for decaying items in an interval environment. Preservative technology is incorporated to preserve the product from deterioration. The corresponding mathematical formulation is derived in such a way that the profit of the inventory system is maximized. Consequently, the corresponding optimization problem is converted into an interval optimization problem. To solve the same, different variants of quantum-behaved particle swarm optimization (QPSO) techniques are employed to determine the duration of stock-in time and preservation technology cost. To illustrate and also to validate the model, three numerical examples are considered and solved. Then the computational results are compared. Thereafter, to study the impact of different parameters of the proposed model on the best found (optimal or very close to optimal) solution, sensitivity analysis are performed graphically.

scholarly journals Blood platelet bank inventory management: an approximate dynamic programming approach

2021 ◽  
Author(s):  
Usama S. Albdulwahab
Keyword(s):  
Inventory Management ◽  
Blood Platelets ◽  
Blood Platelet ◽  
Inventory Model ◽  
Blood Bank ◽  
Artificial Blood ◽  
Blood Types ◽  
Proposed Model ◽  
Supply Model ◽  
Right To Refuse

Blood platelets are precious and highly perishable; their supply and demand suffer from significant variation. Consequently, the inventory management of platelets is an actual, contemporary prob- lem of considerable human interest. Although many researchers have solved a plethora of inventory models, their solutions have faced various challenges. This dissertation models some of these chal- lenges, alongside expenses and stock levels. This dissertation is based on four key objectives: (1) to develop a blood platelet inventory model that can represent an actual blood bank inventory, while overcoming the problem's curse of dimensionality; (2) to look for the best issuing policy based on the proposed model that can serve different incoming blood platelet demands; (3) to analyze the effect of having a new, artificial blood platelet alongside the existing natural eight blood types; and (4) to enhance the proposed model for a dual-supplied regional blood platelet bank that serves a network of hospitals. Blood platelet inventory management model is a multi-period, multi-product model that considers the eight natural blood types with uncertain demand, and deterministic lead times, alongside the artificial platelet and patients right to refuse it. The study is supported by both a review of literature and a testing data provided by the Canadian Blood Service. The findings show that modeling blood platelet inventory management, including the eight blood types and their ages, represents the actual-life model without any need for downsizing. It also leads to significantly reductions in shortages and outdates while increasing reward gained and maintaining minimal inventory levels. Compared to a single supply model, the dual supply model give less shortage and outdate rates. The regional blood bank inventory model considers the fact that patients have the right to refuse transfusion using artificial blood platelets. Finally, if the percentage of artificial supply in the inventory is more than 30% and the rate of patient acceptance is more than 30%, then both outdate and shortage percentages are below 1%.

scholarly journals An Inventory Model for Perishable Items with Price-, Stock-, and Time-Dependent Demand Rate considering Shelf-Life and Nonlinear Holding Costs

2021 ◽  
Vol 2021 ◽  
pp. 1-36
Author(s):  
Adrián Macías-López ◽  
Leopoldo Eduardo Cárdenas-Barrón ◽  
Rodrigo E. Peimbert-García ◽  
Buddhadev Mandal
Keyword(s):  
Shelf Life ◽  
Inventory Management ◽  
Cycle Time ◽  
Research Work ◽  
Quadratic Function ◽  
Inventory Model ◽  
Perishable Items ◽  
Demand Functions ◽  
Price Demand ◽  
Dependent Demand

Nowadays, consumers are more health conscious than before, and their demand of fresh items has intensely increased. In this context, an effective and efficient inventory management of the perishable items is needed in order to avoid the relevant losses due to their deterioration. Furthermore, the demand of products is influenced by several factors such as price, stock, and freshness state, among others. Hence, this research work develops an inventory model for perishable items, constrained by both physical and freshness condition degradations. The demand for perishable items is a multivariate function of price, current stock quantity, and freshness condition. Specific to price, six different price-dependent demand functions are used: linear, isoelastic, exponential, logit, logarithmic, and polynomial. By working with perishable items that eventually deteriorate, this inventory model also takes into consideration the expiration date, a salvage value, and the cost of deterioration. In addition, the holding cost is modelled as a quadratic function of time. The proposed inventory model jointly determines the optimal price, the replenishment cycle time, and the order quantity, which together result in maximum total profit per unit of time. The inventory model has a wide application since it can be implemented in several fields such as food goods (milk, vegetables, and meat), organisms, and ornamental flowers, among others. Some numerical examples are presented to illustrate the use of the inventory model. The results show that increasing the value of the shelf-life results in an increment in price, inventory cycle time, quantity ordered, and profits that are generated for all price demand functions. Finally, a sensitivity analysis is performed, and several managerial insights are provided.

Green synthesis, characterization of silver sulfide nanoparticles and antibacterial activity evaluation

2019 ◽  
Author(s):  
Chem Int
Keyword(s):  
Antibacterial Activity ◽  
Large Scale ◽  
Research Work ◽  
Silver Sulfide ◽  
Morphological Properties ◽  
Effective Diameter ◽  
Novel Approach ◽  
Transmission Electron ◽  
Green Route ◽  
Silver Sulfide Nanoparticles

This research work presents a facile and green route for synthesis silver sulfide (Ag2SNPs) nanoparticles from silver nitrate (AgNO3) and sodium sulfide nonahydrate (Na2S.9H2O) in the presence of rosemary leaves aqueous extract at ambient temperature (27 oC). Structural and morphological properties of Ag2SNPs nanoparticles were analyzed by X-ray diffraction (XRD) and transmission electron microscopy (TEM). The surface Plasmon resonance for Ag2SNPs was obtained around 355 nm. Ag2SNPs was spherical in shape with an effective diameter size of 14 nm. Our novel approach represents a promising and effective method to large scale synthesis of eco-friendly antibacterial activity silver sulfide nanoparticles.

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