Exponential Time-based Supply-chain Two-warehouse Inventory Model for Deteriorating Items with Shortage and Partial Backlogging in Inflationary Environment | Chapter 5 | Novel Research Aspects in Mathematical and Computer Science Vol. 5

Products that lose their uniqueness after a given amount of time fall under the category of degradation in inventory management systems. In a supply chain system where demand is characterised as a function of stock with an exponent function of time, we developed a two-warehouse issue for deteriorating goods. The inventory problem in the supply chain system comprises inventory shortages that frequently happen in daily life as part of the practical situation of scarcity. The backlog situation of a scarcity is also taken into account to make the model more realistic. We have incorporated an inflation factor into our model since it is impossible to disregard the effects of inflation. The suitable illustration offers a sensitivity analysis. To support our findings, the graph between various components is also shown in the analysis section.

Author (s) Details:

Mohammad Rizwanullah,
Department of Mathematics and Statistics, Faculty of Science, Manipal University, Jaipur, India.

Maqsood Hussain Junnaidi,
Department of Supply Chain Management, University of Jeddah, Jeddah, Kingdom of Saudi Arabia.

Please see the link here: https://stm.bookpi.org/NRAMCS-V5/article/view/7482

Optimal Ordering Policy for Seasonal Products/ Newly Launched Fashion Items under Periodic Review| Chapter 5 | Current Approaches in Science and Technology Research Vol. 1

 We investigate several characteristics that are expected to be connected with various forms of inventory, such as seasonal product inventories, newly introduced fashion items, electronic goods, mobile phones, and so on. With a ramp type demand rate, a periodic review inventory model is created. When the inventory on hand reaches zero, the inventory manager provides a discount to customers who are willing to backorder. The optimum ordering policy and the best discount offered for each backorder can be found by lowering the overall cost in a replenishment interval.

Author (s) Details

Dr. Sujan Chandra
Department of Statistics, Bethune College, Kolkata, India.

View Book :- https://stm.bookpi.org/CASTR-V1/article/view/1337

Optimal Inventory Policy and Optimal Price Discount on Backorders under Ramp Type Demand Environment | Chapter 4 | Insights into Economics and Management Vol. 4

The demand rate is believed to be constant in classical inventory models. In fact, in the inventory system, time plays an important role. In the case of the demand rate of the ramp form, the demand rises to a certain limit over time and then gradually stabilises and becomes constant. In this paper, an inventory model is studied with the demand rate of the ramp form, where holding costs are expressed as a time function that increases linearly. The research involves certain characteristics that are likely to be correlated with certain forms of merchandise, such as seasonal fruit and vegetable inventory, newly introduced fashion pieces, electronic devices, etc. The inventory manager proposes a price if the stock on hand is zero. Discount for clients who are prepared to backorder their demand. The optimal ordering procedure and ordering policy  The optimal discount offered for each backorder is calculated by decreasing the total price in a backorder  Interval of replenishment. It is observed through numerical analysis that it is for low backorder costs,  The warehouse manager will benefit from giving customers a high backorder discount.

Author (s) Details

Dr. Sujan Chandra
Department of Statistics, Bethune College, Kolkata, India.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/348