In this paper, we discuss discrete choice theory and show how this theory can be used to quantify learning effects in experimental studies. We argue why the ordering quantities in newsvendor experiments should follow a multinomial logit distribution. We provide a robustness analysis to explain...

Ever since the basic Economic Order Quantity (EOQ) model was introduced, several researchers and academicians extended and/or altered it, to reduce its unrealistic assumptions and make it more suitable and appropriate to the real world. The traditional EOQ Models assume constant demand and...

Adopting the permissible delay method by suppliers offers ample opportunity to overcome the burden of holding costs from retailers. This compensates retailers against the competitive situation as an alternative to price discounts. We present an inventory model for a finite time horizon for...

This study presents a production inventory model where demand is considered a function of the average consumption of perishable products by the diabetic population. Food products are generally subject to spoilage over time, and various preservation technologies are used to keep them in good...

In the present market scenario, it is seen that commodity is attracted by the stock of the items. Considering this fact in this present work, the demand for the item is considered as stock dependent in an inventory control system, where the items are deteriorating in nature. When the number of...

This study presents an inventory system where items have an initial linear deterioration rate that transitions to a non-linear pattern, addressing a critical aspect of contemporary supply chain management. Our research introduces a dual warehouse inventory model comprising a rented facility and...

This study investigates a non-instantaneous deteriorating two-warehouse inventory problem with allowable delay payments under inflation. The objective is to maximize the total profit per unit of time by determining the optimal order quantity, the product's selling price, and the business cycle...

Spare parts are particularly challenging to forecast due to their lumpiness and representing a significant part of companies’ expenditures, so even small improvement in new approaches can considerably reduce these items’ total inventory. This paper aims to present a new hybrid forecasting...

Spare parts are particularly challenging to forecast due to their lumpiness and representing a significant part of companies' expenditures, so even small improvement in new approaches can considerably reduce these items' total inventory. This paper aims to present a new hybrid forecasting method...

Effectively managing food supply chains is critical for ensuring food security and safety. Identifying and prioritizing the criteria affecting food supply chain performance is imperative to manage uncertainty and avoid undesirable consequences in Supply Chain Management (SCM). This study aims to...