This paper develops an inventory model for non deteriorating items with time dependent demand rate of production with constant inflation rate. In this model shortages are not allowed, the effect of inflation rate and delay in payments are discussed. In the study mathematical models are also derived under two different cases, i.e. Case-I the credit period is less than or equal to the cycle time ...

In recent researches, vendor managed inventory (VMI) policy is rarely considered for deteriorating items.   This study considered the supply chain partner’s collaboration via a VMI system and provided an EOQ model for a two-level supply chain (single supplier - single retailer) to examine the inventory management proceedings for VMI and non-VMI supply chains. By a new approach in modeling, the ...

In an experiment decision-makers used time series information on the past demand for products to decide on production levels to meet the next period’s demand. Either shortages cost more per unit than surpluses or the asymmetry of losses was in the opposite direction. The decision-makers were either: i) unsupported, ii) provided with statistical point forecasts of the next period’s demand or iii...

a r t i c l e i n f o Economic production quantity (EPQ) is the quantity of a product that should be manufactured in a single batch so as to minimize the total cost. In classical model EPQ only applies where the demand for a product and production rate is constant over the year. But in reality these parameters vary with time in different scenarios. In this paper we have considered a production ...

In this article, an inventory model is developed to deal with the impreciseness present in the market demand and the various cost parameters. The presented model is developed in crisp and fuzzy environments. Signed distance method is used for defuzzification. In most of the classical models, constant demand rate is considered. But in practice purchasing deeds of the customers is affected by the...

We formulate a model of capacity expansion that is relevant to a service provider for whom the cost of capacity shortages would be considerable but difficult to quantify exactly. Due to demand uncertainty and a lead time for adding capacity, not all shortages are avoidable. In addition, technological innovations will reduce the cost of adding capacity but may not be completely predictable. Anal...

The practical experiences reveal that the Supply Chain Management (SCM) is under uncertain and variable conditions. One of the most important parts of SCM is inventory system management which is inherently in non-deterministic situation. The many departments of organization such as warehouse, marketing, sale, purchasing, financial, planning, production, maintenance and etc. are relevance to the...