The effect of imperfect production processes on lot sizing decisions received a lot of attention in the literature. These efforts have been almost confined to single stage production systems. The issue of imperfect production processes has not been adequately addressed in the context of multistage production/inventory systems. In this paper, we propose a two-stage production inventory model tha...

The practical experiences reveal that the inflation is non-deterministic and variable. Therefore, a mathematical model for the optimal production for an inventory control system of deteriorating items is formulated under time-varying and stochastic inflation environment. The demand rate is a function of inflation and the time horizon is finite. In the real situation, some but not all customers ...

Inventory models with imperfect quality items are studied by researchers in past two decades. Till now none of them have considered the effect of substitutions to cope up with shortage and avoid lost sales. This paper presents an EOQ approach for inventory system with shortages and two types of products with imperfect quality by one way substitution. Our model provides significant advantage for...

The main objective of this paper is to develop a two-warehouse inventory model with partial backordering and Weibull distribution deterioration. We consider inflation and apply the discounted cash flow in problem analysis. The discounted cash flow DCF and optimization framework are presented to derive the optimal replenishment policy that minimizes the total present value cost per unit time. Wh...

In recent times, in the literature of inventory management there exists a notorious interest production-inventory models focused on imperfect production processes with deterministic time horizon. Nevertheless, it is well-known that high influence and impact caused by learning effect random planning This research work formulates mathematical model for re-workable multi-item system, which demand ...

This paper proposes another realistic application of the economic order quantity EOQ model. Researchers have studied EOQ models that assume the received lot contains items that are perfect and imperfect. All models in the literature assume that the received lot goes through a 100% inspection to separate acceptable items from the non-acceptable items. This paper argues that 100% inspection is no...

The classical inventory control policies assume that orders are paid for at the time of their receipts, but in practice, suppliers may require retailers to pay a fraction purchasing cost advance, and sometimes allow them this several prepayments during predetermined period. Planning replenishments become challenging when decisions must be made under uncertainty, especially delivery is stochasti...

This paper extends an imperfect production inventory model to machine breakdown at a random time and rework of defective items. Any manufacturing system wants to produce perfect quality items. But in long run production process, there may arise different types of difficulties like labor problem, rawmaterial problems, operator problems, etc., due to that the machinery systems shift from in-contr...

This paper develops a model of an integrated vendor–buyer supply chain with imperfect production and shortages. We assume that market demand is sensitive to the buyer’s selling price and thus study combined operations and pricing decisions in the supply chain. We first derive the expected profit per unit of time using the well-known renewal-reward theorem, and then maximize profit for the cases...

A vendor managed system with the Consignment Stock agreement is a business practice where a buyer's inventory remains the property of the vendor until its withdrawal by the final customer demand. Such an agreement has shown to be a profitable stock management approach, especially when operating in uncertain environments where delivery lead times and/or market demand vary over time. One main iss...