scholarly journals Coordinating Supply Chain Inventory Model for Deteriorating Products

2020 ◽  
Vol 8 (4S5) ◽  
pp. 89-91
Keyword(s):  
Supply Chain ◽  
Numerical Models ◽  
Inventory Model ◽  
Ideal Solution ◽  
Total Cost ◽  
Inventory Replenishment ◽  
Replenishment Policy ◽  
Optimal Values ◽  
Expected Total Cost ◽  
The Ideal

The paper manages an optimal inventory replenishment policy for a deteriorating item with two part coordination technique (coordination and non coordination). The aim of this model is to determine the optimal values for every strategy such that the expected total cost is minimized. The model is solved analytically to get the ideal solution. It is then outlined with the assistance of numerical models.

An EPQ Model of Stock Dependent Demand Subject to Epidemic with Stochastic Lockdown Time

2021 ◽  
Vol 12 (2) ◽  
pp. 2859-2867
Author(s):  
Ruchi Sharma, Et. al.
Keyword(s):  
Production Quality ◽  
Selling Price ◽  
Total Cost ◽  
Economic Production ◽  
Epq Model ◽  
Expected Total Cost ◽  
Classical Economic ◽  
Dependent Demand ◽  
The Ideal

The model created considers the effect of the epidemic on the classical Economic Production Quality (EPQ) model for a production unit exposed to stochastic lockdown time. Expected production time is evaluated utilizing continuous probability density function. The investigation is done to decide the ideal arrangement for the production system which limits the expected total cost per unit time exposed to certain conditions. Here EPQ model is created by taking lockdown time due to epidemic as stochastic.  Machine breakdown affects the manufacturer but disaster like epidemic affects the manufacturer as well as the customer (or in other words, demand). During the production uptime, demand depend upon stock and decline in selling price, but in case of disaster (epidemic) selling price has no consideration and demand depends only on stock. The model is discussed by means of a numerical example and a case study.

scholarly journals Using Complete Squares Method to Optimize Replenishment Policies in a Four-Stage Supply Chain with Planned Backorders

2011 ◽  
Vol 2011 ◽  
pp. 1-9 ◽  
Author(s):  
M. E. Seliaman
Keyword(s):  
Supply Chain ◽  
Cycle Time ◽  
Differential Calculus ◽  
Algebraic Method ◽  
Inventory Model ◽  
Coordination Mechanism ◽  
Chain Model ◽  
Supply Chain Model ◽  
Replenishment Policy

We develop a four-stage, serial supply chain inventory model with planned backorders. This supply chain model is formulated for the integer multipliers coordination mechanism, where firms at the same stage of the supply chain use the same cycle time and the cycle time at each stage is an integer multiplier of the cycle time used at the adjacent downstream stage. We develop an optimal replenishment policy using a simple algebraic method to solve the problem without the use of differential calculus.

scholarly journals Optimizing the Two-Stage Supply Chain Inventory Model with Full Information Sharing and Two Backorders Costs Using Hybrid Geometric-Algebraic Method

2013 ◽  
Vol 2013 ◽  
pp. 1-5 ◽  
Author(s):  
Mohamed E. Seliaman
Keyword(s):  
Supply Chain ◽  
Algebraic Method ◽  
Relevant Information ◽  
Two Stage ◽  
Single Product ◽  
Supply Chain System ◽  
Total Cost ◽  
Chain System ◽  
Operational Costs ◽  
Replenishment Policy

We consider the case of a two-stage serial supply chain system. This supply chain system involves a single vendor who supplies a single buyer with a single product. The vendor’s production rate is assumed finite. In addition, the demand at the buyer is assumed deterministic. In order to coordinate their replenishment policies and jointly optimize their operational costs, the two supply chain partners fully share their relevant information. For this purpose, we develop an integrated inventory replenishment model assuming linear and fixed backorders costs. Then, we use a hybrid geometric-algebraic method to drive the optimal replenishment policy and the minimum supply chain total cost in a closed form.

A Stochastic Inventory Model for a Random Yield Supply Chain with Wholesale-Price and Shortage Penalty Contracts

2018 ◽  
Vol 35 (06) ◽  
pp. 1850040
Author(s):  
Kimitoshi Sato ◽  
Kyoko Yagi ◽  
Masahito Shimazaki
Keyword(s):  
Supply Chain ◽  
Supply And Demand ◽  
Infinite Horizon ◽  
Wholesale Price ◽  
Inventory Model ◽  
Coordination Mechanisms ◽  
Decentralized System ◽  
Total Cost ◽  
Independent Decision ◽  
The Impact

This paper analyzes an infinite horizon, single-product, continuous-time inventory model with supply and demand risks to evaluate the impact of coordinating a production policy between a distributor and a supplier. We consider a wholesale-price contract and a shortage penalty contract as a coordination mechanisms in an inventory replenishment system. The demand process is described by a Brownian motion with drift, and this inventory model can be formulated as an impulse control problem with uncertain replenishment quantities. We show that under some assumptions, there exist optimal ordering and production policies. We also provide some numerical examples to investigate the effect of these coordination mechanisms on the expected costs and the optimal policies. The computational experiments reveal that (i) the production quantity in decentralized case is higher than that in the centralized case, (ii) the centralized approach strategy results in the lower joint total cost as compared with independent decision approaches, and (iii) the shortage penalty contract has a beneficial effect on the total cost to the entire supply chain in decentralized system.

scholarly journals APPLICATION OF RISK CRITERIA IN COASTAL ENGINEERING

1968 ◽  
Vol 1 (11) ◽  
pp. 84
Author(s):  
Asit K. Biswas
Keyword(s):  
Ideal Solution ◽  
Total Cost ◽  
Design Load ◽  
Whole Process ◽  
Decision Making Problem ◽  
Complex Decision Making ◽  
Complex Decision ◽  
The Cost ◽  
Cost Of Construction ◽  
The Ideal

A design of any engineering structure may be said to be optimum when it can meet all the necessary requirements at a minimum possible cost. In all cases there is a probability, however slight (sometimes even incalculable because of lack of data), that the design load can be exceeded and, thus, damages could occur. Obviously, lower the design load, higher would be the cost of anticipated damages and vice versa. Thus, from economical standpoint alone, the ideal solution would be when the total cost of construction and anticipated damages is at its minimum. Very often, however, other factors like social, political, etc., have to be considered, and this makes the whole process a complex decision making problem - sometimes completely out of the jurisdiction of the engineers.

Pengukuran Kinerja Supply Chain Menggunakan Supply Chain Operation Reference (Scor®) (Studi Kasus Koperasi Baitul Qiradh Baburrayyan)

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Raysa Aleyzia ◽  
Hasan Yudie Sastra
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Six Sigma ◽  
Green Beans ◽  
Chain Management ◽  
Total Cost ◽  
Target Value ◽  
Chain Operation ◽  
Cost To Serve ◽  
Supply Chain Operation

Manajemen supply chain yang tidak maksimal akan mempengaruhi kinerja suatu perusahaan. Di Aceh Tengah terdapat suatu koperasi yaitu Koperasi Baitul Qiradh (KBQ) Baburrayyan yang sudah menerapkan manajemen supply chain. Koperasi ini bergerak di bisnis perdagangan biji kopi (green bean). Penelitian ini bertujuan untuk mengukur kinerja supply chain dari KBQ Baburrayyan. Metode yang digunakan adalah SCOR® dengan praktik perbaikan Convergence of SCOR® with Lean and Six Sigma. Target kinerja yang diperoleh untuk total cost to serve adalah sebesar 94,71% dari nilai target 65,00% dan untuk return on supply chain fixed asset adalah sebesar 1,60 dari nilai target 2,50. Hasil yang diperoleh dari penggunaan praktik tersebut adalah terdapat 8 akar penyebab waste di antaranya kurangnya tenaga pengawas, training/briefing belum maksimal, kurangnya kepedulian tentang pentingnya K3, layout yang kurang efisien, belum adanya unit penyuluhan, alat yang masih sederhana, pekerjaan yang monoton, dan tidak dilarang secara tegas.   Supply chain management that is not optimal will affect the performance of a company. In Central Aceh there is a cooperative namely Koperasi Baitul Qiradh (KBQ) Baburrayyan which has implemented supply chain management. This cooperative is engaged in the business of trading in green beans. This study aims to measure the supply chain performance of KBQ Baburrayyan. The method used is SCOR® with the practice of improving Convergence of SCOR® with Lean and Six Sigma. The performance target for total cost to serve is 94.71% of the target value of 65.00% and the return on supply chain fixed assets is 1.60 of the target value of 2.50. The results obtained from the use of the practice are that there are 8 root causes of waste including lack of supervisors, training / briefing is not maximal, lack of concern about the importance of K3, inefficient layouts, absence of extension units, simple tools, monotonous work, and not strictly prohibited.

scholarly journals Malmquist Productivity Index by Extended VIKOR Method Using Interval Numbers

2013 ◽  
Vol 2013 ◽  
pp. 1-15 ◽  
Author(s):  
Mohammad Fallah ◽  
Amir Mohajeri ◽  
Esmaeil Najafi
Keyword(s):  
Multicriteria Decision Making ◽  
Malmquist Productivity Index ◽  
Productivity Index ◽  
Ideal Solution ◽  
Vikor Method ◽  
Decision Matrix ◽  
Interval Numbers ◽  
Productivity Rate ◽  
The Given ◽  
The Ideal

The VIKOR method was developed for multicriteria optimization of complex systems. It determines the compromise ranking list and the compromise solution obtained with the given weights. This method focuses on ranking and selecting from a set of alternatives in the presence of conflicting criteria. Here, the VIKOR method is used for two timestandt+1. In order to calculate the progress or regression via Malmquist productivity index, the positive and negative ideals at timestandt+1are calculated first. Then we introduce the multi-criteria ranking index based on the particular measure of “closeness” to the ideal solution and calculate the separation of each alternative from the ideal solution at timestandt+1. Then we use the Malmquist productivity index to calculate the progress or regression of all alternatives. In this paper, productivity of alternatives available in decision matrix with interval numbers and their improvement or deterioration is researched. To achieve this practical goal, use of extended VIKOR is made to calculate Malmquist productivity index for multicriteria decision-making (MCDM) problem with interval numbers, and by applying Malmquist productivity index, productivity rate of growth for alternatives is calculated. Finally, a numerical example illustrates and clarifies the main results developed in this paper.

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