A Mathematical Model of the Production Inventory Problem for Mixing Liquid Considering Preservation Facility

The mixing process of liquid products is a crucial activity in the industry of essential commodities like, medicine, pesticide, detergent, and so on. So, the mathematical study of the mixing problem is very much important to formulate a production inventory model of such type of items. In this work, the concept of the mixing problem is studied in the branch of production inventory. Here, a production model of mixed liquids with price-dependent demand and a stock-dependent production rate is formulated under preservation technology. In the formulation, first of all, the mixing process is presented mathematically with the help of simultaneous differential equations. Then, the mixed liquid produced in the mixing process is taken as a raw material of a manufacturing system. Then, all the cost components and average profit of the system are calculated. Now, the objective is to maximize the corresponding profit maximization problem along with the highly nonlinear objective function. Because of this, the mentioned maximization problem is solved numerically using MATHEMATICA software. In order to justify the validity of the model, two numerical examples are worked out. Finally, to show the impact of inventory parameters on the optimal policy, sensitivity analyses are performed and the obtained results are presented graphically.

Behavioral operations effect of fairness and unfairness concern in the decision of the supply chain production-inventory system

Purpose The purpose of this paper is to investigate the behavioral operations effect in production inventory decision of supply chain consisting of one manufacturer and one buyer, and analyze how the unfairness concerns impact the decision of production inventory in a supply chain system. Design/methodology/approach First, a model without the buyer’s unfairness concern is established; then, advantage unfairness concern and disadvantage unfairness concern behavior of buyer are taken into account in the production inventory system. The authors analyze how advantage unfairness concern and disadvantage unfairness concern impact the optimal decisions and channel coordination. Findings The result shows several important conclusions. First, the buyer’s optimal ordering quantity and expected utility show opposing trend when the buyer has advantage unfairness concern. Second, the stronger bargaining power of the manufacturer results in an increasing buyer’s optimal ordering quantity under the advantage unfairness concern case, but decreasing under the disadvantage unfairness concern case. Third, the supply chain production-inventory can be coordinated under advantage unfairness concern case, but cannot be coordinated under disadvantage unfairness concern. Practical implications The study can provide to practitioners with important implications that when the vendor or the buyer in supply chain wants to make the decision of inventory replenishment, taking unfairness concerns into account will lead to different results. Therefore, to effectively improve the operations performance of supply chain, partners of the supply chain should not only care about their own interest, but also need to consider the fairness concern of the other partner, reflecting the cooperation consciousness of supply chain management. Originality/value This paper contributes to the new field of creative management–behavioral operations, offering managerial implications for the decision and optimization of supply chain production-inventory problem.

Optimizing a bi-objective location-allocation-inventory problem in a dual-channel supply chain network with stochastic demands

Integrating strategic and tactical decisions to location-allocation and green inventory planning by considering e-commerce features will pave the way for supply chain managers. Therefore, this study provides an effective framework for making decisions related to different levels of the dual-channel supply chain. We provide a bi-objective location-allocation-inventory optimization model to design a dual-channel, multi-level supply chain network. The main objectives of this study are to minimize total cost and environmental impacts while tactical and strategic decisions are integrated. Demand uncertainty is also addressed using stochastic modeling, and inventory procedure is the periodic review . We consider many features in inventory modeling that play a very important role, such as lead time, shortage, inflation, and quality of raw materials, to adapt the model to the real conditions. Since a dual-channel supply chain is becoming more important for sustainable economic development and resource recovery, we combine online and traditional sales channels to design a network. We generate five test problems and solve them by using the augmented ε-constraint method. Also, the Grasshopper optimization algorithm was applied to solve the model in a reasonable time for a large size problem. In order to provide managerial insights and investigate the sensitivity of variables and problem objectives with respect to parameters, sensitivity analysis was performed.

Optimal Price and Lot Size for an EOQ Model with Full Backordering under Power Price and Time Dependent Demand

In this paper, we address an inventory system where the demand rate multiplicatively combines the effects of time and selling price. It is assumed that the demand rate is the product of two power functions, one depending on the selling price and the other on the time elapsed since the last inventory replenishment. Shortages are allowed and fully backlogged. The aim is to obtain the lot sizing, the inventory cycle and the unit selling price that maximize the profit per unit time. To achieve this, two efficient algorithms are proposed to obtain the optimal solution to the inventory problem for all possible parameter values of the system. We solve several numerical examples to illustrate the theoretical results and the solution methodology. We also develop a numerical sensitivity analysis of the optimal inventory policy and the maximum profit with respect to the parameters of the demand function.

EFFICIENCY OF USING OFSET PRINTING MACHINE TO SPEED UP MAGAZINE PRINT TIME

Optimization is an effort to maximize activities so that they are realized desired or desired advantage. Optimization in form Raw material planning can be defined as an activity which coordinated to achieve certain goals within a certain period of time. Raw material planning has an effect on operating costs, so that errors in inventory will reduce profits. Company Inventory problem, too much supply or even a shortage. Both of these conditions resulted in the emergence of this situation substantial costs. Therefore, it is necessary to plan the raw material inventory with the MRP method to analyze the optimal inventory level.The purpose of planning and planning is to plan and controlling the flow of material into, inside, and out of the factory thus the position of optimal profit which is an attainable goal. Material requirements planning is carried out using the MRP method whose application begins with forecasting the number demand / production for the future. By seeing material requirements planning, then inventory planning is carried out by using the Horizontal Planning method. From the results of Horizontal Planning produce optimal inventory planning.Keywords: optimization, planning, MRP method.