Replenishment policies for imperfect inventory system under natural idle time and shortages

Supply-chain modelling and control under proportional inventory-replenishment policies

A novel state-space model of a multi-node supply chain is presented, controlled via local proportional inventory-replenishment policies. The model is driven by a stochastic sequence representing customer demand. The model is analyzed under stationarity conditions and a simple recursive scheme is developed for updating its covariance matrix. This allows us to characterize the “bullwhip effect” (...

An Inventory Replenishment Model for Deteriorating Items with Time-varying Demand and Shortages using Genetic Algorithm

In this paper, an inventory replenishment model for deteriorating items is developed. Demand for the item varies with time over a finite planning horizon, during which shortages are allowed and are completely back-ordered. The objective is to determine a replenishment policy that minimizes the total inventory cost. A search procedure based on Genetic Algorithm (GA) is presented and illustrated ...

Fuzzy Inventory Model for Imperfect Quality Items with Shortages

In this paper, a fuzzy based inventory model for imperfect quality items has been developed with shortages. The parameters fixed cost; holding cost and shortage cost are considered as fuzzy numbers. We considered the triangular fuzzy number to represents fuzzy parameters. The optimum order quantity is obtained in fuzzy sense with the help of signed distance method. The proposed model is illustr...

Pricing and Replenishment Policies for Imperfect Quality Deteriorating Items Under Inflation and Permissible Delay in Payments

Usually it is assumed that all items in a lot are of good quality, but in reality this assumption may not always be pertinent. Thus, the inspection of lots becomes essential in almost all organizations. Moreover, its role becomes more vital when the items are deteriorating in nature. Owing to this fact, this paper investigates the impact of initial inspection on retailer’s pricing and ordering ...

Coordinated and Joint Ordering Policies for Two Commodity Inventory System