 Normally, the real-world inventory control problems are imprecisely defined and human interventions are often required to solve these decision-making problems. In this paper, a realistic inventory model with imprecise inventory costs have been formulated for deteriorating items under trade credit policy within the economic production quantity (EPQ) framework. We assume that the supplier would...

In this paper, an economic production quantity (EPQ) inventory model with interruption in process, scrap and rework is developed and analyzed. The inventory model is for multiple products and all products are manufactured in a unique machine. Obviously, the existence of only one machine results in limited production capacity and shortages. Therefore, shortages are permitted and fully backordere...

We develop a general-equilibrium model of inventories with explicit micro-foundations by embedding the production-cost-smoothing motive (e.g., Eichenbaum, AER 1989) into an otherwise standard DSGE model. We show that …rms facing idiosyncratic cost shocks have incentives to bunch production and smooth sales by carrying inventories. The optimal inventory target of a …rm is derived explicitly. The...

Solid waste is one of the unavoidable products of every society that necessitates the establishment of municipal solid waste management system. Because of variability in quantity and composition of municipal solid wastes, several management scenarios are considered. Assessing the environmental impacts of the life cycle of these scenarios will have a significant role in reducing and resolving ur...

Supply chain management is concerned with the coordination of material and information flows in multi-stage production systems. Inventory management has long been treated as an isolated function solely focused on individual entities, taking into account concerned with single-vendor-single-buyer and single-vendormultiple-buyer-models. Concerning the supplier selection problem, quantitative model...