This paper considers a concurrent pricing and inventory control problem in a stochastic and periodic review setting. Demand in a period is random and depends on the posted price. Other than holding and backlogging costs, the system incurs stock-replenishment costs that consist of both variable and fixed components. At the beginning of each period, a simultaneous decision has to be made on stock...

multi-echelon inventory systems are one of the most important and attractive areas in modelling supply chain management so that several researches and studies have been done about. in this paper, the total cost function of a two-echelon inventory system with central warehouse and many identical retailers controlled by continuous review inventory policy is estimated. we have assumed the demand i...

The demand for power keeps rising with rapid economic development and growth of industrialization. The frequent mismatch created between demand and supply can be mitigated by the use of energy buyback programs. This papermodels a buy-back programusing a periodic review joint pricing and inventory model, incorporating compensations and setup cost over finite planning horizons. It is shown that a...

Abstract Product recovery is an important business because of its great economic, social, and environmental benefits in practice. In this paper, a location-inventory problem (LIP) closed-loop supply chain (CLSC) investigated to optimize facility location inventory control decisions by considering product recovery. The objective minimize the total cost operations system. We formulate as mixed-in...

We study multi-product and multi-item assemble-to-order systems under general assumptions on demand patterns and replenish leadtime distributions. We only assume that the demand process of each product being a renewal process, and the replenish leadtimes follow general distributions. Based upon techniques from renewal theory, we developed procedures for approximating key performance measures of...

A result in the Bayesian inventory management literature is: If lost sales are not observed, the Bayesian optimal inventory level is larger than the myopic inventory level (one should “stock more” to learn about the demand distribution). This result has been proven in other studies under the assumption that inventory is perishable, so the myopic inventory level is equal to the Bayesian optimal ...

the primary purpose of this paper is to highlight for the research community and practitioners the various aspects of using vmi-type supply chains in today’s business environment as well as a number of directions for future studies. in this regard, fifty articles published in major international journals, beginning in 1995, which contribute to the vmi-type supply chains are reviewed via a syste...

This paper exemplifies a framework for development of multi-objective genetic algorithm based job sequencing method by taking account of multiple resource constraints. Along this, Theory of Constraints based Drum-Buffer-Rope methodology has been combined with genetic algorithm to exploit the system constraints. This paper introduces the Drum-Buffer-Rope to exploit the system constraints, which ...

We present a decision model designed to help policy-makers understand the disruptive impact of temporary closures of a container seaport on the supply chains that it supports. Such closures may have numerous possible causes, but security-related disruptions are of particular relevance today. Importantly, temporary closures result in highly variable product delivery leadtimes, increasing invento...