Good inventory management is essential for a firm to be cost competitive and to acquire decent profit in the market, and how to achieve an outstanding inventory management has been a popular topic in both the academic field and in real practice for decades. As the production environment getting increasingly complex, various kinds of mathematical models have been developed, such as linear progra...

This article considers five cost-rate models for inventory control, each summarizing the expected holding and shortage costs per period as a function of the inventory position. All models have linear holding costs and shortage cost coefficients of dimension [$/unit/period], [$/unit] and [$/period]. The latter two coefficients may be the shadow costs of a fill-rate and a ready-rate service const...

The unanticipated shortening of a product’s life cycle can have a dramatic effect on inventory costs. Where the cause is physical decay or an unexpected decline in demand, producers can quickly find themselves quickly holding inventory that has degraded value or no value at all. In this research, we propose that an inventory system with this characteristic can be modeled as a Markov Process wit...

We present an improved implementation of the Wagner-Whitin algorithm for economic lot-sizing problems based on the planning-horizon theorem and the Economic- Part-Period concept. The proposed method of this paper reduces the burden of the computations significantly in two different cases. We first assume there is no backlogging and inventory holding and set-up costs are fixed. The second model ...

This paper presents an optimal control recycling production inventory system in fuzzy environment. The used items are bought back and then either put on recycling or disposal. Recycled products can be used for the new products which are sold again. Here, the rate of production, recycling and disposal are assumed to be function of time and considered as control variables. The demand inversely de...

This work is a contribution to fault propagation analysis in a supply chain network. An event-based fault detection method is applied to fault propagation analysis validation. The goal of this methodology is to discover and validate fault propagation effects on system variables. This knowledge could be used to improve corrective action design in order to compensate negative effects. The methodo...

This paper deals with infinite time horizon fuzzy Economic Order Quantity (EOQ) models for deteriorating items with stock dependent demand rate and nonlinear holding costs by taking deterioration rate 0 θ as a triangular fuzzy number ( ) , , 2 0 0 1 0 δ θ θ δ θ + − , where 0 2 1 , 0 θ δ δ < < are fixed real numbers. The traditional parameters such as unit cost and ordering cost have been kept c...