Cárdenas-Barrón (2010) applied algebraic methods to EOQ and EPQ models without referring to differential equations, allowing researchers without backgrounds in calculus to understand inventory models with ease. In this note, we point out that the derivation for EPQ model can be obtained by a transformation of the EOQ model and then we provide a further simplification of his approach such that f...

Advanced inventory management in complex supply chains requires effective and robust nonlinear optimization due to the stochastic nature of supply and demand variations. Application of estimated gradients can boost up the convergence of Particle Swarm Optimization (PSO) algorithm but classical gradient calculation cannot be applied to stochastic and uncertain systems. In these situations Monte-...

in this research, an integrated inventory problem is formulated for a single-vendor multiple-retailer supply chain that works according to the vendor managed inventory policy. the model is derived based on the economic order quantity in which shortages with penalty costs at the retailers` level is permitted. as predicting customer demand is the most important problem in inventory systems and th...

Recycling waste products is an environmental-friendly activity that can bring benefits to accompany, saving manufacturing costs and improving economic efficiency. For the beer industry, recycling bottles can reduce manufacturing costs and reduce the industry’s carbon footprint. This paper presents a model for a multi-objective collection-distribution center location and allocation problem in a ...

The current work surveys 245 papers and research reports related to algorithms and methods inspired from nature for solving supply chain and logistics optimization problems. Nature Inspired Intelligence (NII) is a challenging new subfield of artificial intelligence (AI) particularly capable of dealing with complex optimization problems. Related approaches are used either as stand-alone algorith...

In this paper, an inventory model for two-stage supply chain is investigated. A supply chain with single vendor and single buyer is considered. We assume that shortage as a backorder is allowed for the buyer and the vendor makes the production set up every time the buyer places an order and supplies on a lot for lot basis. With these assumptions, the joint economic lot size model is introduced ...

We consider supply chain networks composed of several centrally managed production facilities as well as external suppliers. We design effective heuristics for inventory positioning, order sequencing, and short and reliable due date quotation for this supply chain. We perform extensive computational testing to assess the effectiveness of our algorithms, and we explore the impact of supply chain...

Mathematical optimization has become an important supply chain management tool for any contemporary enterprise. Increasing profit margins through better design, planning, and operative decisions across the supply chain represents a huge opportunity in the more than ever competitive economic market, especially in a global scale. Industrial and academic researchers have been working intensively i...

It is well-known that the production-inventory problem for deteriorating items in supply chain a challenge when deciding on how many products to manufacture obtain maximum total profit. This research work develops an economic production quantity model item under partial trade credit policy considering inflation, effect of reliability factor system, and demand depending price product whose selli...