Supply chain management includes four major elements, namely manufacturers, suppliers, distributors and retailers. Inventory control plays a very important role in each of these four modules in the supply chain. There are many uncertain factors that will influence the accuracy of forecasting. Therefore, we need to investigate the uncertainties during the inventory control for these four differe...

The optimal control of inventory in supply chains plays a key role in the competiveness of a corporation. The inventory cost can account for half of company’s logistics cost. The classical inventory models, e.g., newsvendor and EOQ models, assume either a single or infinite planning periods. However, these models may not be applied to perishable products which usually have a certain shelf life....

Inventory control is one of the most important issues in supply chain management. In this paper, a three-echelon production, distribution, inventory system composed of one producer, a set of wholesalers and retailers is considered. Costumers' demands can be approximated by a normal distribution and the inventory policy is a kind of continuous review (R, Q). In this paper, a model based on stand...

Vendor managed inventory is a continuous replenishment program that is designed to provide major cost saving benefits for both vendors and retailers. Previous research on this area mainly included single objective optimization models where the objective is to minimize the total supply chain costs or to maximize the total supply chain benefits. This paper presents a bi-objective mathematical mod...

This paper develops an analytically tractable general equilibrium model of inventory dynamics. Inventories are introduced into a standard RBC model through a precautionary stockout-avoidance motive. Under persistent aggregate demand shocks, the model is broadly consistent with the U.S. business cycle and key features of inventory behavior, including (i) a large inventory stock-to-sales ratio an...

In this paper, we attempt to develop an inventory model for deteriorating items with the consideration of the fact that the use of preservation technology (PT) can reduce the deterioration rate significantly. In this model the shortages are allowed and salvage value is incorporated to the deteriorated items. Demand rate is constant, deterioration rate is time dependent with Weibull’s distributi...

This paper deals with a parametric multi-period integer-valued inventory model for perishable items. Each item in the stock perishes in a given period of time with some probability. Demands are assumed to be random. and the probability that an item perishes is not known with certainty. Expressions for various parameter estimates of the model are established and the. problem of finding an optima...

In the past few decade researches have developed their EOQ models under constant deterioration and constant demand. However, it is not true in actual practice. In this paper, we have established inventory model with exponential time-dependent demand and timedependent time-dependent deterioration. Shortages are allowed. The demand rate and unit production cost both are considered as proportional...

In this paper, we concentrate on discussing the inventory problem under bifuzzy environment and develop a class of multi-objective inventory model with bifuzzy coefficients. We give the bifuzzy transform operarion and prove the method of solving satisfied solution of multi-objective inventory model. These are applied to a practical inventory problem in which all inventory costs, purchasing and ...

Intuition may lead to the hypothesis that in stochastic inventory systems a higher demand variability results in larger variances and in an increase of total expected system costs. In a recent paper, Song [5] formally proved this assertion to hold for a certain class of inventory models (including the Newsboy Problem), given a particular definition of variability. Here we use stochastic dominan...