A firm is considered that manages its internal manufacturing operations according to a just-in-time system, but maintains an inventory of finished goods as a buffer against random demands from external customers. The finished goods inventory may be analysed by the methods of classical inventory theory in order to characterize the trade-off between inventory costs and schedule stability. A model...

This paper presents an inventory model for deteriorating items over a ®nite time horizon where the demand increases linearly with time. The method is developed by assuming that the successive replenishment cycle lengths are the same. Many O.R. scientists/researchers obtained an optimal replenishment schedule where the replenishment cost is constant in each cycle length over the ®nite time horiz...

A “phantom stockout” is a retail stockout phenomenon caused either by inventory shrinkage or by shelf execution failure. Unlike the conventional stockout which can be corrected by inventory replenishment, a phantom stockout persists and requires human interventions. In this paper, we propose two partially-observable Markov decision models: one for the shrinkage problem and the other for the she...

Abstract -In this paper, we developed a fuzzy optimal replenishment policy for Inventory models of Weibull Deterioration items with Ramp type Demand under permissible delay in payments. Deterioration of items begins on their arrival in stock. The shortages are allowed and partially backlogged. All the inventory costs involved in this model are taken as triangular fuzzy numbers. Replenishment cy...

Group-buying auction has become a popular marketing strategy in the last decade. In this paper, a stochastic model is developed for an inventory system subjects to demands from group-buying auctions. The model discussed here takes into the account of the costs of inventory, transportation, dispatching and re-order as well as the penalty cost of non-successful auctions. Since a new cycle begins ...

We study an inventory system that supplies price-sensitive demand modeled by Brownian motion. The optimal pricing and inventory replenishment decisions under both long-run average and discounted objectives are derived, and related to or contrasted with previously known results. In addition, we emphasize the interplay between pricing and replenishment decisions, and the ways in which they react ...

A Robotic Mobile Fulfillment System is a recently developed automated, parts-topicker material handling system. Robots can move storage shelves, also known as inventory pods, between the storage area and the workstations and can continually reposition them during operations. This paper shows how to optimize three key decision variables: (1) the number of pods per product (2) the ratio of the nu...

In this paper, we extend the models in the literature [Lee, H.L., So, K.C., Tang, C., 2000. The value of information sharing in a two-level supply chain. Management Science 46 (5), 626–643; Raghunathan, S., Yeh, A.B., 2001. Beyond EDI: impact of continuous replenishment program (CRP) between a manufacturer and its retailers. Information Systems Research 12 (4), 406–419] to analyze the benefits ...