Environmentally friendly goods are market-oriented that create less environmental damage. Their manufacture is related to a product development process designed consider the consequences might develop throughout their life cycle. In reality, global demand for herbal expanding since products manufactured from plant extracts such as leaves, roots, flowers, and seeds, among others, cause destructi...

Permissible delay in payment basically termed as “Trade credit financing” and in the present business scenario it has become a popular trend to attract the retailers by offering some interest free period by suppliers/wholesalers to increase the sales. The phenomenon of trade credit has drawn attention of many researches for last decay.In this work, for the development of model we have considere...

In this paper we formulate a two-stage stochastic quadratic optimization problem, that models a production planning problem of multiple products, over several time periods, with uncertain demands. This model considers quadratic inventory holding and demand backlogging recourse costs, which model the saturation phenomenon inherent to the increase of the inventory and/or backlogged demand levels....

Abstract In this paper, we propose a new robust cycle-based control policy for single installation inventory models with non-stationary uncertain demand. The policy is simple, flexible, easily implementable and preliminary numerical experiments suggest that the policy has very promising empirical performance. The policy can be used both when the excess demand is backlogged as well as when it is...

The focus of manufacturing planning and control has gradually expanded from (in-house) production activities towards all manufacturing and logistic activities in the supply chain. Planning of in-house operations is still very important, but the trends towards increased use of outsourcing and mass customisation require that customers and suppliers are able to exchange information frequently to c...

In this article, we study an inventory system for items that have a power demand pattern and where shortages are allowed. We suppose only fixed proportion of during the stock-out period is backordered. The decision variables cycle ratio between initial stock total quantity demanded throughout cycle. objective to maximize Return on Inventory Investment (ROII) defined as profit per unit time over...

In this paper, an attempt has been made to study deterministic inventory models for deteriorating items with variable holding cost. This model has been developed considering demand function as quadratic with respect to time and salvage value is associated to the deteriorated items. At the end numerical example with sensitivity analysis also presented.

In the classical inventory models, the common unrealistic assumption is that all the items produced are of good quality in nature. However, in realistic environment, it can be observed that there may be some defective items in an ordered lot. These items are usually picked up during the screening process and are sold as a single lot at the end of screening process. Further, it is tacitly assume...

In industries like health care, consumer goods and agriculture, shortages are widely observed and the consequences can be costly. One of the main drivers of such shortages is the uncertain nature of supply and demand. To reduce uncertainties, sufficient information about supply and demand can be obtained by gathering relevant data (e.g., auditing suppliers and conducting market research). In th...