scholarly journals ANALYSIS OF INVENTORY MANAGEMENT FOR AGRO AND ORGANIC PRODUCT SATISFYING CUSTOMER WITH MAXIMUM PROFIT USING EOQ MODEL

2021 ◽  
Vol 6 (3) ◽  
Author(s):  
Debasmita Samal ◽  
Abdul Kalam
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Dairy Product ◽  
Profit Maximization ◽  
Control Model ◽  
Control Methods ◽  
Goods And Services ◽  
Eoq Model ◽  
Maximum Profit ◽  
Inventory Control Model

Inventory management of agro-based industry (dairy product) is a challenging tax because due to its perishable nature.EOQ model has its importance & role for proper management of this category of Inventory. The success of many businesses is related to their ability to provide goods and services at right time and in right place. Different organization adopt different inventory control methods to manage their inventory to avoid stock-out and overstock. This paper analyses possible parameters of existing literature, concentration, description of characteristics and of EOQ inventory control model that have been developed and can solve the Problem in this field & will provide the customer satisfaction with profit maximization.

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

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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