Today, the effective inventory management plays an important role in the success of the organizations in the new business environment. It is not clearly possible for the organizations that store hundreds of inventory items to economically design an inventory management policy for each inventory item separately. Moreover, various inventory items may play quite different roles in the business ...

Today, the effective inventory management plays an important role in the success of the organizations in the new business environment. It is not clearly possible for the organizations that store hundreds of inventory items to economically design an inventory management policy for each inventory item separately. Moreover, various inventory items may play quite different roles in the business ...

Deterioration cannot be avoided in business scenarios. Deterioration is defined as change, damage, decay, spoilage obsolescence and loss of utility or loss of original value in a commodity that results in the decreasing usefulness from the original one product. Normally inventory models of deteriorating items, such as food products, vegetables, etc. involve imprecise parameters, like imprecise ...

In this paper, an inventory model with finite and constant replenishment rate, price dependant demand rate, time value of money and inflation, finite time horizon, lead time and exponential deterioration rate and with the objective of maximizing the present worth of the total system profit is developed. Using a dynamic programming based solution algorithm, the optimal sequence of the cycles can...

We propose an alternative algorithm for solving continuous review inventory model problems for deteriorating items over a finite horizon. Our interest focuses on the case of time–dependent demand and backlogging rates, limited or infinite warehouse capacity and taking into account the time value of money. The algorithm is based on Particle Swarm Optimization and it is capable of computing the n...

This paper studies the economic-order-quantity model (EOQ) for deteriorating items in two cases (with and without shortages) to evaluate how vendor managed inventory (VMI) affects supply chain. We consider two-level supply chain (single supplier and a single retailer) with one instantaneous deteriorating item. A numerical example and sensitivity analysis are provided to illustrate the effect of...

This paper deals with an inflation induced stock dependent demand inventory model with permissible delay in payments. In real life situations, some products maintain freshness and quality for some time. This inventory model is developed for non-instantaneous deteriorating items. The purpose of this paper is to obtain the optimal policies for maximizing the total profits. Numerical examples are ...

this paper considers the fuzzy inventory model for deteriorating items for power demand under fully backlogged conditions. we define various factors which are affecting the inventory cost by using the shortage costs. an intention of this paper is to study the inventory modelling through fuzzy environment. inventory parameters, such as holding cost, shortage cost, purchasing cost and deteriorati...