scholarly journals An Inventory Management System for Deteriorating Items with Ramp Type and Quadratic Demand: A Structural Comparative Study

2020 ◽  
Vol 11 (4) ◽  
pp. 1-8
Author(s):  
Biswaranjan Mandal
Keyword(s):  
Sensitivity Analysis ◽  
Comparative Study ◽  
Inventory Management ◽  
Management System ◽  
Optimum Time ◽  
Total Cost ◽  
Deterioration Rate ◽  
Inventory Management System ◽  
Demand Rates ◽  
Constant Deterioration

The present paper deals with an inventory management system with ramp type and quadratic demand rates. A constant deterioration rate is considered into the model. In the two types models, the optimum time and total cost are derived when demand is ramp type and quadratic. A structural comparative study is demonstrated here by illustrating the model with sensitivity analysis.

scholarly journals Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

2020 ◽  
pp. 38-38
Author(s):  
Nita Shah ◽  
Kavita Rabari ◽  
Ekta Patel
Keyword(s):  
Sensitivity Analysis ◽  
Total Cost ◽  
Deterioration Rate ◽  
Preservation Technology ◽  
Decision Variables ◽  
Stock Dependent Demand ◽  
Rate Controlled ◽  
Financial Losses ◽  
Constant Deterioration ◽  
Dependent Demand

Our model deals with the stock-dependent demand as exhibiting huge volume of commodities leads to more costumers and augment the trading of the goods. As some goods like vegetables, fruits, medicines deteriorate after a period of time, resulting in economical and financial losses, we took this factor into consideration and included a constant deterioration rate, controlled by suitable preservation technologies. Preservation technology investments are made for the valuable business as it helps to decrease the rate of deterioration. Our model allows shortages, and back-ordering is permissible to manage the loss that occurs due to perishable objects and shortages. The objectives are to find the optimal cycle time, preservation technology cost, and positive inventory time. The paper also proves the convexity of total cost through graphs with respect to decision variables. A sensitivity analysis of decision variables with respect to different inventory parameters is carried out.

scholarly journals An Inventory Model for Deteriorating Items With Exponential Declining Demand and Return

2020 ◽  
Vol 20 (1) ◽  
pp. 31
Author(s):  
Fadli Fadli ◽  
Sudarajat Sudrajat ◽  
E. Lesmana
Keyword(s):  
Mathematical Model ◽  
Sensitivity Analysis ◽  
Demand Function ◽  
Return Time ◽  
Optimal Number ◽  
Deteriorating Items ◽  
Total Cost ◽  
Deterioration Rate ◽  
Declining Demand ◽  
Constant Deterioration

In this paper propose an EOQ mathematical model for deteriorating items. The model is developed with a demand function that decreases exponentially, a constant deterioration rate, a shortage is permitted, and a return occurs. The purpose of this model is to determine the minimum total cost by determining the optimal return time and the optimal number of orders. A numerical example is given to describe the working model. Furthermore, a sensitivity analysis was conducted to see the effect of changing parameters on the optimal solution.Keywords: Deteriorating item, inventory, return, shortageModel Persediaan Deteriorasi Item Dengan Exponential Declining Demand dan ReturnABSTRAKDalam makalah ini mengusulkan model matematika EOQ untuk item yang mengalami deteriorasi. Model ini dikembangkan dengan fungsi permintaan yang menurun secara eksponensial, laju deteriorasi konstan, kekurangan diizinkan, dan terjadi pengembalian. Tujuan dari model ini adalah untuk menentukan biaya total minimum dengan menentukan waktu pengembalian optimal dan jumlah pesanan optimal. Contoh numerik diberikan untuk menggambarkan model bekerja. Selanjutnya, analisis sensitivitas dilakukan untuk melihat efek perubahan parameter pada solusi optimal.Kata kunci: Deteriorasi item, persediaan, pengembalian, kekurangan

scholarly journals Integrated Inventory Management Control Framework

2020 ◽  
pp. 147-157 ◽  
Author(s):  
H.R. Ganesh ◽  
P. S. Aithal ◽  
P. Kirubadevi
Keyword(s):  
Decision Making ◽  
Inventory Management ◽  
Performance Indicators ◽  
Management System ◽  
Management Control ◽  
Inventory Management System ◽  
Control Framework ◽  
Brick And Mortar ◽  
And Control ◽  
New Framework

The concept of minimum display quantity (MDQ) is unavoidable in brick-and-mortar retailing format owing to which, retailers need to ensure a minimum level of inventory displayed at each store irrespective of the revenue or inventory turns generated by a particular store. It is observed that majority of bricks-and-mortar retailers in India assume;(a) existing inventory management system is ideal to their store, (b) software solutions record accurate inventory movement, (c) involving store management team in inventory related decision making is risky/biased and most importantly (d) loss of sale due to stockouts is inevitable. Such assumptions and widely followed practice have created a predisposition and mindset in store managers and they believe that their store delivers revenue and profit to the best of its potential with the inventory which is made available to them through existing inventory management system and we cannot avoid a number of instances consumers are unsatisfied due to stockout situations. In this research, we have analysed the existing decision-making process and control systems related to inventory management of a select retailer, attempted to design a new framework and applied the same through an experiment to evaluate the change in (a) overall store profitability and (b) inventory related key performance indicators.

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