Proper inventory management is vital to achieving sustainability within a supply chain and also related company’s cash flow through the funds represented by inventory. Therefore, it necessary balance excess insufficient However, this can be difficult achieve in presence of stochastic demand because decisions must made an uncertain environment policy bears risks associated with each decision. Th...

a r t i c l e i n f o JEL classification: C02 M11 C44 C61 Keywords: Multi-item production system Rotation cycle time Multi-delivery Economic production quantity model Scrap Vendor–buyer integrated system This paper addresses the joint determination of a rotation cycle time and number of shipments for a multi-item economic production quantity (EPQ) model with random defective rate. The classic E...

this paper investigates an epq model with the increasing demand and demand dependent production rate involving the trade credit financing policy, which is seldom reported in the literatures. the model considers the manufacturer was offered by the supplier a delayed payment time. it is assumed that the demand is a linear increasing function of the time and the production rate is proportional to ...

proper inventory control policy and the optimal price for the items has always been one of the main topics of scientific research and industry. on the other hand, there are many products in the market witch are classified as deteriorating items. therefore the problem of determining optimal price and optimal inventory policy for this type of items is very important. in this paper a 3 echelon sup...

In traditional inventory models such as the economic order quantity (EOQ) and the economic production quantity (EPQ) the sole objective is to minimize the total inventory-related costs, typically holding cost and ordering cost. These models do not consider the presence of defective products in the lot or rework of them. Recently, Jamal, Sarker, and Mondal (Jamal, A. A. M., Sarker, B. R., & Mond...

We develop an inventory model to determine optimal ordering policy under permissible delay in payment by considering demand rate to be stock dependent. Mathematical models are derived under two different cases: credit period being greater than or equal to cycle time for settling the account, and credit period being less than or equal to cycle time for settling the account. The results are illus...

Economic lot size scheduling problem (ELSP) for a multi-product single machine system is a classical problem. This paper considers ELSP with budgetary constraint as an important aspect of such systems. In the real world situations the available funds for investment in inventory is limited. By adopting the common cycle time approach to ELSP, we obtain the optimal common cycle which minimizes the...

In this paper we develop an inventory model, to determine the optimal ordering quantities, for a set of two substitutable deteriorating items. In this inventory model the inventory level of both items depleted due to demands and deterioration and when an item is out of stock, its demands are partially fulfilled by the other item and all unsatisfied demand is lost. Each substituted item incurs a...

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...

Background and Objectives: In the real world, the obsolescence items are some items that lose their value over time due to the emergence of new technology. Because of rapid changes in technology, inventory management of such items is considered in recent years. Moreover, suppliers try to encourage the retailers for purchasing an item before it is outmoded with some policies suc...