Inventory affects the production process and supply chain activities. Integrated decision inventory improves performance and optimizes supply chain activities. However, its disadvantage is the Integrated Procurement Production (IPP) inventory model, which manages the raw material inventory in...

Effective management of perishable inventory systems is often strewn with challenges, especially when a strong trade-off relationship exists between shortage and wastage of perishables: A smaller inventory increases the chance to lose sales (leading to higher expected shortage cost), while a...

We propose an efficient method of finding an optimal solution for a multi-item continuous review inventory model in which a bivariate Gaussian probability distribution represents a correlation between the demands of different items. By utilizing appropriate normalizations of the demands, we show...

Supply chains are exposed to many types of risks and it may not be obvious where to keep safety stocks in the supply chain to hedge against those risks, while maintaining a high customer service level. In this paper, we develop an approach to determine the safety stock levels in supply chain...

In this present study, a production inventory model with partial trade credit is formulated and solved in fuzzy environment via Generalized Hukuhara derivative approach. To capture the market, a supplier offers a trade credit period to its retailers. Due to this facility, retailer also offers a...

The economic order quantity (EOQ) model has evolved greatly over past decades on the strength of incorporating realistic factors. In recent times, interest has been geared towards studying the effect of reverse flow of products into inventory system. In practice, businesses may operate return...

In an inventory management model for perishables, depletion due to interacting with the demand is of importance, but also, damage to products is a relevant variable. This article considers that demand and sales phenomena do not always go hand-in-hand. The demand process relates to the...

While the basic economic order quantity model has found some practical applications, it makes a number of assumptions which do not reflect most real life inventory systems. This paper proposes an inventory system where the items ordered are capable of growing during the course of the inventory...

Globalization has not only generated immense business opportunities, but also created a very competitive marketplace. To retain competitive advantage, a manufacturer must satisfy a client's multiproduct and quality requirements with limited in-house capacity. An outsourcing strategy can overcome...

We present inventory models to schedule an imperfect manufacturing process where a proportion of the items are defective. The proportion is known; and the production is followed by a 100% inspection. The manufacturer implements a rework strategy to rectify the defective items. Since the rework...