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Showing 3 results for Dependent Demand
Neeraj Kumar, Sanjey Kumar,
Volume 3, Issue 1 (5-2016)
Abstract
In the present study, the Economic Order Quantity (EOQ) model of two-warehouse deals with non-instantaneous deteriorating items, the demand rate considered as stock dependent and model affected by inflation under the pattern of time value of money over a finite planning horizon. Shortages are allowed and partially backordered depending on the waiting time for the next replenishment. The main objective of this work is to minimize the total inventory cost and finding the optimal interval and the optimal order quantity. An algorithm is designed to find the optimum solution of the proposed model. Numerical examples are given to demonstrate the results. Also, the effect of changes in the different parameters on the optimal total cost is graphically presented.
Rakesh Tripathi, Dinesh Singh, Tushita Mishra,
Volume 3, Issue 4 (2-2016)
Abstract
In this paper, an EOQ model is developed for a deteriorating item with quadratic time dependent demand rate under trade credit. Mathematical models are also derived under two different situations i.e. Case I; the credit period is less than the cycle time for settling the account and Case II; the credit period is greater than or equal to the cycle time for settling the account. The numerical examples are also given to validate the proposed model. Sensitivity analysis is given to study the effect of various parameters on ordering policy and optimal total profit. Mathematica 7.1 software is used for finding optimal numerical solutions.
Mohammad Sohrabi, Parviz Fattahi, Amir Kheirkhah, Gholamreza Esmaeilian,
Volume 3, Issue 4 (2-2016)
Abstract
This paper, considers the supplier selection in three echelon supply chain with Vendor Managed Inventory (VMI) strategy under price dependent demand condition. As there is a lack of study on the supplier selection in VMI literature, this paper presents a VMI model in supply chain including multi supplier, one distributer and multi retailer that distributer selects suppliers. Two class models (traditional vs. VMI) are presented and we compare them to study the impact of VMI on supply chain and supplier selection. As the proposed model is a NP-hard problem, a meta-heuristics namely Harmony Search is employed to optimize the proposed models. We show that how the VMI system can effect on supplier selection and can change the set of selected suppliers. Finally the conclusion and further studies are presented
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