We study the impact of the efforts aimed at reducing the lead-time variability in a quality-adjusted stochastic inventory model. We assume that each lot contains a random number of defective units. More specifically, a logarithmic investment function is used that allows investment to be made to reduce lead-time variability. Explicit results for the optimal values of decision variables as well a...

in this paper, the study deals with the lead time and setup reduction problem in the vendor-purchaser integrated inventory model. the cost of capital (i.e., opportunity cost) is one of the key factors in making the inventory and investment decisions. lead time is an important element in any inventory system. the proposed model is presents an integrated inventory model with controllable lead tim...

In the pharmaceutical manufacturing industry, efficient and accurate production processes ensure quality products meet customer demands. However, many companies still rely on manual systems, such as Microsoft Excel, which can lead to challenges inefficiencies. The problems identified include a lack of integration between product data documents, error-prone entry, document mix-ups, time-consumin...