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 Two Level Trade Credit Policy Approach in Inventory Model with Expiration Rate and Stock Dependent Demand under Nonzero Inventory and Partial Backlogged Shortages

2021 ◽  
Vol 13 (23) ◽  
pp. 13493
Author(s):  
Ali Akbar Shaikh ◽  
Leopoldo Eduardo Cárdenas-Barrón ◽  
Amalesh Kumar Manna ◽  
Armando Céspedes-Mota ◽  
Gerardo Treviño-Garza
Keyword(s):  
Trade Credit ◽  
Research Work ◽  
Real Life ◽  
Optimal Number ◽  
Inventory Model ◽  
Inventory Level ◽  
Credit Policy ◽  
Rate Dependent ◽  
Total Profit ◽  
Dependent Demand

In present real life situations, the stock and expiration date directly impact on the demand of an item. In this context, this research work develops an inventory model for stock and expiration rate-dependent demand under a two-level trade credit policy. Specifically, the following three situations are studied: (i) trade credit policy without zero ending inventory; (ii) trade credit policy with zero ending inventory; (iii) trade credit policy with partial backlogged shortages. The proposed inventory model is formulated as a non-linear constrained optimization problem. Some theoretical results are derived, and an algorithm is stated in order to solve the proposed inventory model. The main objective of the inventory model is to determine the optimal cycle length, the optimal ending inventory level, and the optimal number of units displayed which maximize the total profit. Some numerical examples are solved. Finally, a sensitivity analysis is done with the aim to see the impacts of a variation of the input parameters on the decision variables and the total profit.

scholarly journals WAYS TO IMPROVE THE ORGANIZATION OF LOGISTICS MANAGEMENT AT ENTERPRISES

THE BULLETIN ◽  
2020 ◽  
Vol 6 (388) ◽  
pp. 130-137
Author(s):  
Zhurynov G.M., ◽  
◽  
Tulemetova A.S., ◽  
Sadykbekova A.A., ◽  
Jazdykbayeva D.P., ◽  
...  
Keyword(s):  
Inventory Management ◽  
Materials Science ◽  
Raw Materials ◽  
Research Work ◽  
Production Equipment ◽  
Production Costs ◽  
Logistics Management ◽  
Practical Significance ◽  
Important Place ◽  
Common Information

The relevance of logistics and increasing interest in its study are explained by the possibilities that increase the efficiency of Materials Science Systems, which reveal the use of the logistics method. Logistics reduces the time intervals from the purchase of raw materials and semi-finished products to the delivery of finished products to the consumer, contributes to a sharp reduction in inventory. The use of logistics speeds up the process of obtaining information and improves the level of Service. As foreign experience shows, logistics occupies a strategically important place in modern business. Many professionals who have achieved success in this field move to higher positions in the management of the company. Currently, the traditional functional areas of logistics in leading firms are combined into the basis of a common information and computer platform, creating a system of Strategic Innovation (Innovation). The logistics service is comprehensive. This includes transport, warehouse, inventory management, personnel Management, Information System Organization, commercial activities, etc. Each of these functions has been thoroughly studied and described in the relevant industry order. The novelty of the logistics approach is the basic relationship. The purpose of the logistics method is the continuous management of material flows. The introduction of logistics management methods in entrepreneurial practice allows many firms to reduce all types of stocks of production, equipment and products sold, accelerate the turnover of working capital, reduce production costs, reduce the costs associated with distribution, and ensure full satisfaction of consumers with goods and services. From this point of view, the relevance of the research work can be traced. In this regard, this study is relevant and relevant. Scientific novelty and practical significance - development of proposals for improving logistics at enterprises of the Republic of Kazakhstan.

scholarly journals Optimising a Model of Minimum Stock Level Control and a Model of Standing Order Cycle in Selected Foundry Plant

2013 ◽  
Vol 13 (3) ◽  
pp. 97-100
Author(s):  
J. Szymszal ◽  
T. Lis ◽  
J. Przondziono ◽  
K. Nowacki ◽  
J. Kliś
Keyword(s):  
Inventory Management ◽  
Raw Materials ◽  
Optimal Level ◽  
Optimal Order ◽  
Inventory Level ◽  
Optimal Size ◽  
Level Control ◽  
Inventory Costs ◽  
Total Inventory ◽  
Rational Management

Abstract It has been found that the area where one can look for significant reserves in the procurement logistics is a rational management of the stock of raw materials. Currently, the main purpose of projects which increase the efficiency of inventory management is to rationalise all the activities in this area, taking into account and minimising at the same time the total inventory costs. The paper presents a method for optimising the inventory level of raw materials under a foundry plant conditions using two different control models. The first model is based on the estimate of an optimal level of the minimum emergency stock of raw materials, giving information about the need for an order to be placed immediately and about the optimal size of consignments ordered after the minimum emergency level has occurred. The second model is based on the estimate of a maximum inventory level of raw materials and an optimal order cycle. Optimisation of the presented models has been based on the previously done selection and use of rational methods for forecasting the time series of the delivery of a chosen auxiliary material (ceramic filters) to a casting plant, including forecasting a mean size of the delivered batch of products and its standard deviation.

scholarly journals Analysis of Inventory Level Optimization Using Artificial Intelligence Approach

IJOSTHE ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 8
Author(s):  
Yogesh . ◽  
Sudhir Shrivastava
Keyword(s):  
Inventory Management ◽  
Raw Materials ◽  
Inventory Level ◽  
Past Century ◽  
Important Place ◽  
The Past ◽  
Work In Process ◽  
Research Activities ◽  
Intelligence Approach ◽  
Artificial Intelligence Approach

Inventories are raw materials, work-in-process goods and completely finished goods that are considered to be the portion of business’s assets that are ready or will be ready for sale.  Formulating a suitable inventory model is one of the major concerns for an industry.  The earliest scientific inventory management researches date back to the second decade of the past century, but the interest in this scientific area is still great. Again considering the reliability of any process is an important feature in the research activities. Values of some factors are very hard to define or almost unreal. In such cases, AI models of inventory management take an important place.

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 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.

scholarly journals Modified Nanoclays/Straw Fillers as Functional Additives of Natural Rubber Biocomposites

Polymers ◽  
2021 ◽  
Vol 13 (5) ◽  
pp. 799
Author(s):  
Justyna Miedzianowska ◽  
Marcin Masłowski ◽  
Przemysław Rybiński ◽  
Krzysztof Strzelec
Keyword(s):  
Natural Rubber ◽  
Raw Materials ◽  
Research Work ◽  
Damping Properties ◽  
Main Research ◽  
Functional Additives ◽  
Different Types ◽  
Elastomeric Materials ◽  
Research Goal ◽  
The Impact

Increasingly, raw materials of natural origin are used as fillers in polymer composites. Such biocomposites have satisfactory properties. To ensure above-average functional properties, modifications of biofillers with other materials are also used. The presented research work aimed to produce and characterize elastomeric materials with a straw-based filler and four different types of montmorillonite. The main research goal was to obtain improved functional parameters of vulcanizates based on natural rubber. A series of composites filled with straw and certain types of modified and unmodified nano-clays in various ratios and amounts were prepared. Then, they were subjected to a series of tests to assess the impact of the hybrids used on the final product. It has been shown that the addition of optimal amounts of biofillers can, inter alia, increase the tensile strength of the composite, improve damping properties, extend the burning time of the material and affect the course of vulcanization or cross-linking density.

scholarly journals Modeling the Supply Process Using the Application of Selected Methods of Operational Analysis

2017 ◽  
Vol 7 (1) ◽  
pp. 50-54 ◽  
Author(s):  
Mária Chovancová ◽  
Vladimír Klapita
Keyword(s):  
Inventory Management ◽  
Economic Efficiency ◽  
Raw Materials ◽  
Service Level ◽  
Effective Management ◽  
Operational Analysis ◽  
Intermediate Products ◽  
The Subject

AbstractSupply process is one of the most important enterprise activities. All raw materials, intermediate products and products, which are moved within enterprise, are the subject of inventory management and by their effective management significant improvement of enterprise position on the market can be achieved. For that reason, the inventory needs to be managed, monitored, evaluated and affected. The paper deals with utilizing the methods of the operational analysis in the field of inventory management in terms of achieving the economic efficiency and ensuring the particular customer’s service level as well.

STUDY OF OIL AND GAS PROSPECTIVE STRUCTURES OF THE ARAL SEA REGION WITH THE FORECAST OF THEIR RESERVES

2021 ◽  
Author(s):  
С.К. Курбаниязов
Keyword(s):  
Oil And Gas ◽  
Raw Materials ◽  
Research Work ◽  
Aral Sea ◽  
Short Term ◽  
Alluvial Deposits ◽  
Hydrocarbon Traps ◽  
Coastal Sea ◽  
Detailed Search ◽  
Gas Potential

В начале барремского времени море отступило и до начала позднего альба территория представляла собой низменную аккумулятивную равнину, в пределах которой происходило накопление аллювиальных и озерно-аллювиальных отложений: красно-коричневых глин, алевролитов с прослоями коричневых песчаников и песков и линзами темно-серого лигнита. В основании толщи отмечаются гравелиты и конгломераты. В раннемальбе произошла кратковременная трансгрессия моря, однако территория современного Восточного Приаралья не была затоплена и представляла собой прибрежно-морскую равнину, где накапливались глины, алевролиты и песчаники. К концу позднего альба море регрессировало, и территория вновь стала представлять собой низменную аллювиально-озерную равнину. По всей территории происходило накопление пестроцветных глин, зеленовато-серых алевролитов, песков и песчаников, а также углей. При проведении иследовательских работ были обоснованы наиболее перспективные типы ловушек углеводородного сырья по стратиграфическим уровням и выявлена зональность их распространения. Дана оценка перспектив района на выявление залежей нефти и газа. Выделены информативные и качественные признаки (критерии) нефтегазоносности. Обоснованы площади и конкретные структуры для постановки детальных поисковых работ на выявление залежей нефти и газа. Рассчитана оценка потенциальных ресурсов углеводородного сырья. At the beginning of the Barremian time, the sea receded and until the beginning of the late Alb, the territory was a low-lying accumulative plain, within which the accumulation of alluvial and lacustrine-alluvial deposits occurred: red-brown clays, siltstones with layers of brown sandstones and sands and lenses of dark gray lignite. Gravelites and conglomerates are noted at the base of the strata.In the Rannemalba, there was a short-term transgression of the sea, but the territory of the modern Eastern Aral Sea region was not flooded and was a coastal-sea plain, where clays, siltstones and sandstones accumulated. By the end of the Late Alb, the sea regressed and the area again became a low-lying alluvial-lacustrine plain. There was an accumulation of variegated clays, greenish-gray siltstones, sands and sandstones, as well as coals throughout the territory. During the research work, the most promising types of hydrocarbon traps were justified by stratigraphic levels and the zoning of their distribution was revealed. The assessment of the prospects of the area for the identification of oil and gas deposits is given. Informative and qualitative signs (criteria) of oil and gas potential are identified. The areas and specific structures for setting up detailed search operations to identify oil and gas deposits are justified. The estimation of potential resources of hydrocarbon raw materials is calculated.

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