Inventory model with preservation technology and exponential holding cost in fuzzy scenario

Inventories are ubiquitous in the business sector. Since inventory is most frequently incurring expense, stock control is critical for an organization and it must be scrimping and saving in contemplation of function the merchandising fruitfully.  In this paper, an inventory model for a deteriorating item under exponential holding cost with collaborative preservation technology investment under carbon policy is considered.  Also, this study is developed in a fuzzy scenario by employing triangular fuzzy numbers.  Signed distance method is utilized to enhance decision making and optimization. Further the convexity of the total cost function for both the crisp and the fuzzy case is established.  The objective is to determine the optimal investment in preservation technology and the optimal cycle length so as to minimize the total cost. Moreover, some managerial results are obtained by using sensitivity analysis and graphical representation is also carried out.  The applications of the proposed model is used in the fields of constructing machinery or heavy duty construction equipment, specific chemicals and processed food

ONE-TIME ORDER INVENTORY MODEL FOR DETERIORATING AND SHORT MARKET LIFE ITEMS WITH TRAPEZOIDAL TYPE DEMAND RATE

Determining the end of the sales period for a one-time order inventory policy for technology products that see rapid innovation and improvement, such as smartphones, is a vital decision. While the market life cycle is short, with long lead times and expensive deliveries. Such situations can force the number of orders to be few or even only once. Products with the latest technology consist of many components that allow for deterioration from the start. This study discusses the effect of the market life cycle, as indicated by the trapezoidal demand rate, on deteriorating item inventory policies. This study will provide new insights into inventory policy. Mathematical models with a non-linear generalized reduced gradient approach can find the optimal end of the selling period and the order size to achieve maximum profit. A sensitivity analysis showed several findings that provide insight for management

Complex Production-Inventory Replenishment Problem with Uncertainty in Customer Behaviour

A flow-shop production-inventory system can become very complex in terms of production planning and scheduling. One of the causes of complexity in such a system is the uncertainty of customer demand behaviour which disrupts production lines and inventory control. The uncertainty in customer demand behaviour that causes production disruptions can be in the form of order cancellation, change in order delivery sequence and due time. In general, such disruptions cause order shortages, late order delivery, and the underperformance of resources, amongst others. This paper considers the random combination of occurrences of these disruptions under different production scenario problems. An innovative framework that embeds agent-based simulation, heuristic algorithm, and inventory replenishment strategy is proposed to tackle these disruption problems. The integration of these methods formed a robust platform for adapting and accommodating disruptions with minimum impact on production operations. An experimental study is performed, and the results determine the impact of disruptions under different demand and inventory statuses. An inventory replenishment method is compared with sequential and instantaneous replenishment methods to establish the significance of the proposed method

Quality and Operations Management in Food Supply Chains: A Literature Review

We present a literature review on quality and operations management problems in food supply chains. In food industry, the quality of the food products declines over time and should be addressed in the supply chain operations management. Managing food supply chains with operations management methods not only generates economic benefit, but also contributes to environmental and social benefits. The literature on this topic has been burgeoning in the past few years. Since 2005, more than 100 articles have been published on this topic in major operations research and management science journals. In this literature review, we concentrate on the quantitative models in this research field and classify the related articles into four categories, that is, storage problems, distribution problems, marketing problems, and food traceability and safety problems. We hope that this review serves as a reference for interested researchers and a starting point for those who wish to explore it further