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    International Journal of Inventory Control and Management (IJICM)




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    1 (Q, r) INVENTORY MODEL WITH EMBEDDED QUALITY INSPECTION

    Author: K.V.S.Sarma, M.Sunitha ,(Pages:269-283 )
    Email: N/A          DOI: N/A

    Abstract:

    The classical (Q, r) Inventory model is revisited and the effect of quality changes on lot sizing are discussed. The lots received from the supplier suffer from a known proportion of defectives and each lot is accepted after passing through a single sampling plan of the attribute type with rectification. The lot size Q is a part of this exercise and the parameters (n, c) of the plan are determined. An iterative procedure is developed to simultaneously determine n, c, Q and r of the model. The working of the model and the sensitivity are numerically illustrated.

    Keyword:

    (Q, r) Inventory model, Fraction defective, Consumer’s risk, Rectifying inspection, Average Total Inspection.

    2 Optimal Inventory Policies for Single-Supplier Single-Buyer Deteriorating Items with Price-Sensitive Stock-dependent Demand and Order Linked Trade Credit

    Author: Nita H. Shah,Dushyantkumar G. Patel, Digeshkumar B. Shah ,(Pages:285-301 )
    Email: N/A          DOI: N/A

    Abstract:

    The integrated inventory policies of single-supplier single-buyer are studied under order-dependent trade credit terms. The units in inventory are subject to constant rate of deterioration. The demand rate is assumed to be price-sensitive stock-dependent. Under order-dependent trade credit scenario, the buyer is eligible for settlement of account at allowable delay period if the order quantity is larger than that of pre-specified order by the supplier. The objective is to maximize joint profit of the supply chain with respect to retail price of the unit and cycle time and number of shipments from the supplier to the buyer. The numerical example is given to illustrate the mathematical analysis. Sensitivity analysis is carried out to deduce managerial insights

    Keyword:

    integrated inventory model, price-sensitive stock-dependent demand, deterioration, order-dependent trade credit

    3 Periodic Review Inventory Model with Controllable Lead Time under Service level Constraint where Backorder Rate depends on Protection Interval

    Author: Chandra K Jaggi, Haider Ali and Neetu Arneja ,(Pages:303-327 )
    Email: N/A          DOI: N/A

    Abstract:

    In this paper, a periodic review inventory model with controllable lead time under the service level constraint has been examined where backorder rate is depend on the back order discount and the length of the protection interval which is sum of the review period and lead time. Shortages are allowed and partially backlogged. The demand during the protection interval is assumed to be normally distributed. The total cost has been obtained by jointly optimizing the review period, lead time and backorder discount under the effect of known service level. This study not only provides the greater flexibility to the inventory manager to coordinate inventory in more efficient manner but also makes enormous savings in total expected cost.

    Keyword:

    Inventory, Periodic review, Crashing cost, Lead-Time, Backorder discount, Service level

    4 EOQ MODEL WITH NATURAL IDLE TIME AND WRONGLY MEASURED DEMAND RATE

    Author: Sujit Kumar De ,(Pages:329-354 )
    Email: N/A          DOI: N/A

    Abstract:

    The traditional concept of economic order quantity (EOQ) inventory model is that, the demand rate is continuous throughout the cycle time. But through clinical inquiry anybody can notice something different from that assumption. In reality, for any inventory we usually observe that each day has an unavoidable natural leisure/closing time and at that time no demand rate is viewed. Considering this phenomenon in an EOQ model we may split a day into two parts, one is the opening time period and the other one is closing time period. However, the demand rate which is out-flowed from the system has a measuring error. In the basis of low, zero and excessive measuring error, the model itself is divided into three parts, for a finite cycle time (counted in days only). Due to the flexible nature of the opening and closing time period of the model, a general Fuzzy set and Intuitionistic Fuzzy Optimization (IFO) technique have been analyzed to illustrate the model. Numerical examples and sensitivity analysis have been made with the help of LINGO software and got a wonderful optimum solution near 12-hour opening time duration in a day. Finally a conclusion is made keeping some scope of future work.

    Keyword:

    Inventory, Fuzzy sets, Natural idle time, Intuitionistic Fuzzy Optimization.

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