Decision Making in Inventory Management (Inventory Optimization)

✍ Scribed by Nita H. Shah (editor), Mandeep Mittal (editor), Leopoldo Eduardo Cárdenas-Barrón (editor)

• Publisher: Springer
• Year: 2021
• Tongue: English
• Leaves: 237
• Category: Library

✦ Synopsis

This book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.

✦ Table of Contents

Contents
Editors and Contributors
1 Upper-Lower Bounds for the Profit of an Inventory System Under Price-Stock Life Time Dependent Demand
1.1 Introduction
1.2 Notations and Assumptions
1.2.1 Notations
1.2.2 Assumptions
1.3 Mathematical Model
1.3.1 Optimal Solution
1.4 Numerical Validation
1.5 Sensitivity Analysis
1.6 Conclusion
References
2 An Inventory Model for Stock and Time-Dependent Demand with Cash Discount Policy Under Learning Effect and Partial Backlogging
2.1 Introduction
2.2 Assumptions
2.3 Notations
2.4 Mathematical Modelling
2.5 Associated Costs
2.6 Permissible Delay
2.7 Unit Time Profit
2.8 Numerical Example
2.9 Sensitivity Analysis
2.10 Observations
2.11 Conclusions
References
3 Impact of Inflation on Production Inventory Model with Variable Demand and Shortages
3.1 Introduction
3.1.1 Our Contribution
3.2 Assumptions
3.3 Notations
3.4 Mathematical Modelling
3.5 Cost analysis
3.5.1 Solution Procedure
3.6 Numerical Example
3.7 Sensitivity Analysis
3.8 Observations
3.9 Conclusion
References
4 Effect of Credit Financing on the Learning Model of Perishable Items in the Preserving Environment
4.1 Introduction
4.2 Assumptions and Notations
4.2.1 Assumptions
4.2.2 Notations
4.3 Mathematical Formulation
4.3.1 Algorithm
4.3.2 Numerical Example
4.3.3 Sensitive Analysis and Discussion Part
4.4 Conclusion
References
5 An Inventory Policy for Maximum Fixed Life-Time Item with Back Ordering and Variable Demand Under Two Levels Order Linked Trade Credits
5.1 Introduction
5.2 Notations and Assumptions
5.2.1 Notations
5.2.2 Assumptions
5.3 Mathematical Model
5.4 Numerical Examples with Sensitivity Analysis
5.4.1 Numerical Examples
5.4.2 Sensitivity Analysis
5.5 Conclusion
References
6 Inventory Policies for Non-instantaneous Deteriorating Items with Random Start Time of Deterioration
6.1 Introduction
6.2 Assumptions and Notations
6.3 Mathematical Model
6.4 Numerical Example
6.5 Conclusion
References
7 An Inventory Model for Deteriorating Items with Constant Demand Under Two-Level Trade-Credit Policies
7.1 Introduction
7.2 Literature Review
7.3 Notations and Assumptions
7.4 Mathematical Model
7.5 Computational Algorithm
7.6 Numerical Example and Sensitivity Analysis
7.7 Conclusion
References
8 Supply Chain Coordination for Deteriorating Product with Price and Stock-Dependent Demand Rate Under the Supplier’s Quantity Discount
8.1 Introduction
8.2 Literature Review
8.2.1 Inventory Models Considering Variable Demand
8.2.2 Inventory Models Assuming Price Dependent Demand
8.2.3 Inventory Models with Stock-Dependent Demand
8.2.4 Deteriorating Products
8.2.5 Supply Chain Coordination
8.2.6 Inventory Models with Quantity Discount
8.3 Mathematical Modelling and Analysis
8.4 Solution Procedure
8.5 Numerical Example
8.5.1 Sensitivity Analysis
8.6 Conclusions
Appendix
References
9 An Integrated and Collaborated Supply Chain Model Using Quantity Discount Policy with Back Order for Time Dependent Deteriorating Items
9.1 Introduction
9.2 Notations and Assumptions
9.2.1 Notations
9.2.2 Assumptions
9.3 Model Formulation
9.3.1 Model-1: Without Quantity Discount
9.3.2 Model-2: With Quantity Discount
9.4 Computational Algorithm
9.5 Numerical Example
9.6 Conclusion
References
10 A Wine Industry Inventory Model for Deteriorating Items with Two-Warehouse Under LOFO Dispatching Policy Using Particle Swarm Optimization
10.1 Introduction
10.2 Associated Works
10.3 Assumption and Notations
10.4 Wine Industry Inventory Model Mathematical Formulation and Analysis
10.5 Particle Swarm Optimization
10.6 Numerical Analysis
10.6.1 Numerical Comparison Between Two Cases of the Model
10.7 Sensitivity Analysis
10.8 Conclusions
References
11 Integrated Lot Sizing Model for a Multi-type Container Return System with Shared Repair Facility and Possible Storage Constraint
11.1 Introduction
11.2 Literature Review
11.3 Model Development
11.3.1 Model Assumptions
11.3.2 Notations
11.3.3 Model Derivation
11.3.4 Proof of Optimality
11.4 Solution Algorithm
11.5 Numerical Examples
11.6 Conclusion
References
12 Inventory Management Under Carbon Emission Policies: A Systematic Literature Review
12.1 Introduction
12.2 Research Methodology
12.3 Descriptive Statistics
12.3.1 Year Wise Publications
12.3.2 Contributions by Journals
12.3.3 Contributions by Countries
12.3.4 Distribution of Carbon Emission Causes
12.3.5 Distribution of Carbon Emission Policies
12.3.6 Distribution of Demand Functions
12.4 Literature Review
12.5 Carbon Emission Policies
12.5.1 Carbon Cap
12.5.2 Carbon Tax
12.5.3 Carbon Cap-And-Trade
12.5.4 Carbon Offset
12.5.5 Carbon Reduction Investment
12.5.6 A Sample Mathematical Model
12.6 Summary
12.7 Concluding Remarks
References
13 Application of Triangular Fuzzy Numbers in Taking Optimal Decision
13.1 Introduction
13.2 Urban Transport
13.3 Passenger Transport Services
13.4 Methodology
13.5 Analysis with TFNs
13.6 Applications
13.7 Conclusion
References