scholarly journals A Study of an EOQ Model of Growing Items with Parabolic Dense Fuzzy Lock Demand Rate

2021 ◽  
Vol 4 (4) ◽  
pp. 81
Author(s):  
Suman Maity ◽  
Sujit Kumar De ◽  
Madhumangal Pal ◽  
Sankar Prasad Mondal
Keyword(s):  
Fuzzy Set ◽  
Order Quantity ◽  
Inventory Cost ◽  
Eoq Model ◽  
Fuzzy Environment ◽  
Demand Rate ◽  
Total Inventory ◽  
Growing Items ◽  
Graphical Illustration ◽  
The Ideal

In this article, the parabolic dense fuzzy set is defined, and its basic arithmetic operations are studied with graphical illustration. The lock set concept is incorporated in a parabolic dense fuzzy set. Then, it is applied to the problems of fishery culture via the modeling of an economic order quantity model. Here, the fingerlings are fed to reach the ideal size to fulfill the customer’s demand. The growth rate of the fingerlings is assumed as a linear function. After the sales of all fish, the pond is cleaned properly for a new cycle. Here, the model is solved in a crisp sense first. Then, we fuzzify the model considering the demand rate as a parabolic dense lock fuzzy number and obtain the result in a fuzzy environment. The main aim of our study was to find the quantity of the ordering items such that the total inventory cost gets a minimum value. Lastly, sensitivity analysis and graphical illustrations were added for better justification of our model.

A study of an EOQ model with public-screened discounted items under cloudy fuzzy demand rate

2021 ◽  
pp. 1-12
Author(s):  
Suman Maity ◽  
Sujit Kumar De ◽  
Madhumangal Pal ◽  
Sankar Prasad Mondal
Keyword(s):  
Uncertain Demand ◽  
Order Quantity ◽  
Eoq Model ◽  
Fuzzy Environment ◽  
Proposed Model ◽  
Imperfect Items ◽  
Demand Rate ◽  
Computer Based ◽  
Fuzzy Degree ◽  
Graphical Illustration

This article deals with an economic order quantity inventory model of imperfect items under non-random uncertain demand. Here we consider the customers screen the imperfect items during the selling period. After a certain period of time, the imperfect items are sold at a discounted price. We split the model into three cases, assuming that the demand rate increases, decreases, and is constant in the discount period. Firstly, we solve the crisp model, and then the model is converted into a fuzzy environment. Here we consider the dense fuzzy, parabolic fuzzy, degree of fuzziness and cloudy fuzzy for a comparative study. The basic novelty of this paper is that a computer-based algorithm and flow chart have been given for the solution of the proposed model. Finally, sensitivity analysis and graphical illustration have been given to check the validity of the model.

scholarly journals Two decision makers’ single decision over a back order EOQ model with dense fuzzy demand rate

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Suman Maity ◽  
Sujit Kumar De ◽  
Madhumangal Pal
Keyword(s):  
Decision Maker ◽  
Fuzzy Set ◽  
Raw Materials ◽  
Numerical Study ◽  
Joint Decision ◽  
Eoq Model ◽  
Fuzzy Environment ◽  
Demand Rate ◽  
Back Order ◽  
Graphical Illustration

<p>In this article we develop an economic order quantity (EOQ) model with backlogging where the decision is made jointly from two decision maker supposed to view one of them as the industrialist (developer) and the other one as the responsible manager. The problem is handled under dense fuzzy environment. In fuzzy set theory the concept of dense fuzzy set is quite new which is depending upon the number of negotiations/ turnover made by industrial developers with the supplier of raw materials and/or the customers.  Moreover, we have discussed the preliminary concept on dense fuzzy sets with their corresponding membership functions and appropriate defuzzification method. The numerical study explores that the solution under joint decision maker giving the finer optimum of the objective function. A sensitive analysis, graphical illustration and conclusion are made for justification the new approach.</p>

scholarly journals Two decision makers’ single decision over a back order EOQ model with dense fuzzy demand rate

2018 ◽  
Vol 3 (1) ◽  
Author(s):  
Suman Maity ◽  
Sujit Kumar De ◽  
Madhumangal Pal
Keyword(s):  
Decision Maker ◽  
Fuzzy Set ◽  
Raw Materials ◽  
Numerical Study ◽  
Joint Decision ◽  
Eoq Model ◽  
Fuzzy Environment ◽  
Demand Rate ◽  
Back Order ◽  
Graphical Illustration

<p>In this article we develop an economic order quantity (EOQ) model with backlogging where the decision is made jointly from two decision maker supposed to view one of them as the industrialist (developer) and the other one as the responsible manager. The problem is handled under dense fuzzy environment. In fuzzy set theory the concept of dense fuzzy set is quite new which is depending upon the number of negotiations/ turnover made by industrial developers with the supplier of raw materials and/or the customers.  Moreover, we have discussed the preliminary concept on dense fuzzy sets with their corresponding membership functions and appropriate defuzzification method. The numerical study explores that the solution under joint decision maker giving the finer optimum of the objective function. A sensitive analysis, graphical illustration and conclusion are made for justification the new approach.</p>

Economic Order Quantity Model for Minimizing Total Inventory Cost at PT PQR in Indonesia

2015 ◽  
Vol 21 (4) ◽  
pp. 1053-1056
Author(s):  
Bachtiar H. Simamora
Keyword(s):  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Traditional Practice ◽  
Inventory Costs ◽  
Eoq Model ◽  
Total Inventory

The purpose of this research is to see whether an Economic Order Quantity model can be used to reduce cost of inventory significantly in PT PQR, manufacturer of spring and sponge mattresses in Pekanbaru, Indonesia. The research was conducted on three main materials required in producing spring and sponge mattresses. Using Economic Order Quantity (EOQ) model to analyze historical demand on main materials, it is proven that with EOQ model the company can save by more than 45% from procuring and inventory costs of those materials. The research continues to forecast the sales demand to get the annual requirement of materials needed in 2014 and calculate the EOQ model again. The results show that, comparing with traditional practice done by company, EOQ model can reduce costs up to 118 million rupiah per year.

scholarly journals Inventory Model for Three–parameter Weibull Deterioration and Partial Backlogging

2019 ◽  
pp. 1-9
Author(s):  
Naresh Kumar Kaliraman
Keyword(s):  
Inventory Model ◽  
Time Dependent ◽  
Order Quantity ◽  
Inventory Cost ◽  
Numerical Illustration ◽  
Decision Variables ◽  
Demand Rate ◽  
Optimum Order ◽  
Total Inventory ◽  
Total Average Cost

This paper develops an economic order quantity inventory model for time dependent three parameters Weibull deterioration. Partially backlogged shortages are considered. The demand rate is deterministic and time dependent. The rate of deterioration is time dependent. We have derived the most favorable order quantity model by minimizing the entire inventory cost. A numerical illustration has been carried out to evaluate the result of parameters on decision variables and the total average cost of the model. The research focus of this paper is to derive the optimum order quantity by minimizing the total inventory cost.

ANALYSIS OF THE MANAGEMENT OF MATERIAL AND TECHNICAL ASSETS OF ENTERPRISES

2021 ◽  
Vol 116 (1) ◽  
pp. 293-299
Author(s):  
Aizhan Talgatkyzy Syrkebai
Keyword(s):  
Inventory Management ◽  
Realistic Model ◽  
Process Approach ◽  
Sustainable Competitive Advantage ◽  
Order Quantity ◽  
Specific Product ◽  
Abc Classification ◽  
Eoq Model ◽  
Demand Rate ◽  
Abc Analysis

Variability of demand for goods, depending on their availability and cost is a frequently observed phenomenon in the sphere of production and consumption. This paper discusses the possibility of using the ABC analysis for the inventory management system. This type of analysis makes it possible to apply various methods of inventory management for increasing the income and reducing the costs of particular products for manufacturers. As is known, the management process approach emphasizes the systematic study of management by defining management functions in an organization and then examining each in detail. There is a general agreement on the planning, organizing, and controlling functions. Traditional inventory management systems, such as the Lean Order Quantity (EOQ) model, are based on the assumptions of constant demand rate, constant inventory cost, and instant order. The EOQ assumption of instant order receipt means that the entire order quantity, that is, all units of the purchased lot is immediately received from the supplier. The Economic Production Quantity (EPQ) model weakens this assumption by including incremental order receipt, i.e. debit. In recent years, major advances in the sphere of management include the following elements: process approach management science decision support approach, scientific approach to human resources development, and sustainable competitive advantage. These four approaches complement one another in current practice and provide a useful framework for project management. This paper presents a realistic model of the goods production and their inventory, since ABC analysis or ABC classification is an integral part of materials management. According to this approach, the inventory is divided into three categories depending on income generation. The ABC analysis helps entrepreneurs identify the main types of products in the warehouse, prioritize the goods management based on their cost, and analyze customer demand for a specific product.

scholarly journals Vendor-Buyers relationship model for deteriorating items with shortages, fuzzy trapezoidal costs and inflation

2013 ◽  
Vol 23 (1) ◽  
pp. 73-85 ◽  
Author(s):  
Chaman Singh ◽  
S.R. Singh
Keyword(s):  
Optimal Policy ◽  
Fuzzy Numbers ◽  
Deteriorating Items ◽  
Inventory Cost ◽  
Fuzzy Environment ◽  
Relationship Model ◽  
Present Worth ◽  
Total Inventory ◽  
Integrated Cost ◽  
Representation Method

In this paper, an integrated inventory model is developed from the perspective of a single vendor and multi-buyers for deteriorating items under fuzzy environment and inflation. In the development of the model, it is assumed that all costs parameters, demand and the production rates are imprecise in nature; they are represented by the trapezoidal fuzzy numbers, as these parameters are not constant and can be disturbed due to daily market changes. We use function principle as arithmetic operations to find the total inventory cost in fuzzy sense and Graded Mean - Integration Representation Method to defuzzify the fuzzy total inventory cost. Inflation is used to find the present worth of total cost. Since the optimal policy of buyers may not be the most economical for a vendor, thus to deal with this situation, integrated cost policy is used to reach the optimal policy. Finally, a numerical example is given to illustrate the model.

scholarly journals Analisis Pengendalian Persediaan Bahan Baku dengan Menggunakan Metode EOQ pada PT Sigma Indonesia MFG

JUDICIOUS ◽  
2020 ◽  
Vol 1 (2) ◽  
pp. 102-106
Author(s):  
Elsa Fitriyani ◽  
Matdio Siahaan
Keyword(s):  
Standard Deviation ◽  
Order Quantity ◽  
Microsoft Excel ◽  
Inventory Cost ◽  
Safety Stock ◽  
Total Inventory

Tujuan yang ingin dicapai dalam penelitian ini adalah untuk mengetahui apakah pengendalian persediaan bahan baku pada PT Sigma Indonesia Manufacturing sudah efisien atau belum. Bahan baku utama yang di gunakan PT Sigma Indonesia Manufacturing adalah material STKM diameter 8.0. PT Sigma Indonesia Manufacturing mengolah material STKM diameter 8.0 menjadi barang jadi yaitu Collar 8.0. Masalah yang di hadapi oleh perusahaan dalam kaitannya dengan persediaan bahan baku diantaranya adalah pembelian bahan baku yang optimal, persediaan pengaman, serta total biaya persedian bahan baku. Untuk menjawab permasalahan yang ada, penulis menggunakan metode EOQ (Economical Order Quantity). Analisis ini terdiri dari pembelian bahan baku yang optimal, Safety stock, dan Total Inventory Cost. Perhitungan pembelian bahan baku yang optimal dengan menggunakan metode EOQ (Economical Order Quantity), perhitungan Safety stock dicari hitung dengan menggunakan standard deviation sedangkan Total Inventory Cost dihitung dengan menggunakan Microsoft Excel. Data yang digunakan adalah data pembelian dan pemakaian bahan baku Collar 8.0 selama periode Januari 2016 sampai Desember 2018. Hasil yang didapatkan setelah dilakukan perhitungan EOQ jumlah bahan baku yang ekonomis untuk setiap kali pembelian pada tahun 2016 sejumlah 278 batang , tahun 2017 sejumlah 284 batang , tahun 2018 sejumlah 285 batang. Total Inventory Cost menurut perhitungan EOQ pada tahun 2016 adalah sebesar Rp165.591, tahun 2017 sebesar Rp168.754, tahun 2018 sebesar Rp169.325.Total Inventory Cost yang di keluarkan perusahaan pada tahun 2016 sebesar Rp215.268, tahun 2017 sebesar Rp219.380, tahun 2018 sebesar Rp220.122.

scholarly journals An Optimal Order Quantity Of Spare Parts To Minimize Total Inventory Cost Using Periodic Review Approach (R,s,s) Method In PT. XYZ Bandung

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Part ◽  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.

scholarly journals Analisis Pengendalian Persediaan Bahan Baku dengan Menerapkan Metode EOQ (Economic Order Quantity) pada PT. Jatisari Furniture Work

2021 ◽  
Vol 5 (1) ◽  
pp. 215
Author(s):  
Arga Sutrisna ◽  
Rizki Ginanjar ◽  
Suci Putri Lestari
Keyword(s):  
Production Costs ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Analysis Tool ◽  
Order Quantity ◽  
Inventory Cost ◽  
Total Cost ◽  
Inventory Costs ◽  
Total Inventory

This research objectives aims to determine and analyze raw material inventory control, the ideal raw material inventory that the company must provide and the efficiency of production costs carried out by Jatisri Furniture Work in Tasikmalaya for the period 2018.11 – 2020.02. The data collection method in this study is by direct observation at Jatisari Furniture Work in Tasikmalaya. Using techniques such us interviews, observation, and documentation. These observations were made in production reports for the years 2018 – 2020. The analysis tool was carried out using the Economic Order Quantity (EOQ) method such us safety stock, reorder point, and total inventory cost. The result of the Economic Order Quantity (EOQ) analysis show that the total cost of raw the material inventory that must be incurred by the company is greater than the total cost of inventories calculated according to the EOQ method. Companies should follow the calculations from the EOQ method so that they can save on raw material inventory costs, so that production costs are more efficient.

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