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Author : Bryan L. Deuermeyer
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (781 download)
Download or read book On Multi-product Perishable Inventory Systems with Dependent Demands written by Bryan L. Deuermeyer and published by . This book was released on 1977 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hossein Abouee Mehrizi
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Managing Perishable Inventory Systems with Multiple Demand Classes written by Hossein Abouee Mehrizi and published by . This book was released on 2018 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study a multi-period stochastic perishable inventory system with multiple demand classes that require products of different ages. The firm orders the product with a positive leadtime and sells it to multiple demand classes, each only accepting products with remaining lifetime longer than a threshold. In each period, after demand realization, the firm decides how to allocate the on-hand inventory to different demand classes with different backorder or lost-sale cost. At the end of each period, the firm can dispose inventory of any age. We formulate this problem as a Markov decision process and characterize the optimal ordering, allocation, and disposal policies. When unfulfilled demand is backlogged, we show that the optimal order quantity is decreasing in the inventory levels and is more sensitive to the inventory level of fresher products, the optimal allocation policy is a sequential rationing policy, and the optimal disposal policy is characterized by a set of thresholds. For the lost-sale case, we show that the optimal allocation and disposal policies have the same structure but the optimal ordering policy may be different. Based on the structure of the optimal policy, we develop an efficient heuristic that is at most 4% away from the optimal cost in our numerical examples. Using numerical studies, we show that the ordering and allocation policies are close to optimal even if the firm cannot intentionally dispose products. Moreover, ignoring the difference between demand classes and using a simple allocation policy (e.g., FIFO) can significantly increase the total cost. We examine how the firm can improve the control of perishable items and show that the benefit of decreasing the leadtime is more significant than that of increasing the lifetime of the products or that of decreasing the acceptance threshold of the demand. The analysis is extended to systems with age dependent disposal cost and stochastic supply.
Author :
Publisher :
ISBN 13 :
Total Pages : 672 pages
Book Rating : 4.:/5 (31 download)
Download or read book Paper written by and published by . This book was released on 1981 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Krannert Graduate School of Industrial Administration. Institute for Research in the Behavioral, Economic, and Management Sciences
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.0/5 ( download)
Download or read book Paper written by Krannert Graduate School of Industrial Administration. Institute for Research in the Behavioral, Economic, and Management Sciences and published by . This book was released on 1978 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ke Fu
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Managing Perishable Inventory Systems with Product Returns and Remanufacturing written by Ke Fu and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by emerging practice in the cut flower industry, we consider a periodic-review inventory system for a perishable product with a lifetime of two periods. There are two separate customer demands for the new product with two-period remaining lifetime and the old product with one-period remaining lifetime, and a fixed proportion of the unsatisfied demand for one product will purchase the other product as a substitute. One distinctive feature of our system is that a random portion of the sold new product is returned and can be remanufactured and re-marketed as the old product for sale. The objective is to maximize the expected total discounted profit over a finite planning horizon. We show that the optimal remanufacturing policy is a modified base-stock policy, and that the optimal manufacturing quantity of the new product decreases in the inventory level of the old product after remanufacturing. Furthermore, when the inventory level of the old product is large, the optimal manufacturing quantity asymptotically approaches a constant, which is lower and upper bounded by two newsvendor fractile solutions. We also conduct a numerical study to derive insights into the effects of remanufacturing and demand substitution. In particular, we show that remanufacturing can be a powerful way of mitigating negative environmental impacts in the cut flower industry. Finally, we discuss two model extensions that allow a joint production capacity and a multi-period lifetime.
Author : Edward A. Silver
Publisher : CRC Press
ISBN 13 : 1466558628
Total Pages : 810 pages
Book Rating : 4.4/5 (665 download)
Download or read book Inventory and Production Management in Supply Chains written by Edward A. Silver and published by CRC Press. This book was released on 2016-12-19 with total page 810 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authored by a team of experts, the new edition of this bestseller presents practical techniques for managing inventory and production throughout supply chains. It covers the current context of inventory and production management, replenishment systems for managing individual inventories within a firm, managing inventory in multiple locations and firms, and production management. The book presents sophisticated concepts and solutions with an eye towards today’s economy of global demand, cost-saving, and rapid cycles. It explains how to decrease working capital and how to deal with coordinating chains across boundaries.
Author : Xi Chen
Publisher : Springer Nature
ISBN 13 : 3031019261
Total Pages : 444 pages
Book Rating : 4.0/5 (31 download)
Download or read book The Elements of Joint Learning and Optimization in Operations Management written by Xi Chen and published by Springer Nature. This book was released on 2022-09-20 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines recent developments in Operations Management, and focuses on four major application areas: dynamic pricing, assortment optimization, supply chain and inventory management, and healthcare operations. Data-driven optimization in which real-time input of data is being used to simultaneously learn the (true) underlying model of a system and optimize its performance, is becoming increasingly important in the last few years, especially with the rise of Big Data.
Author : Mahya Hemmati
Publisher : CRC Press
ISBN 13 : 1000406970
Total Pages : 248 pages
Book Rating : 4.0/5 (4 download)
Download or read book Influencing Customer Demand written by Mahya Hemmati and published by CRC Press. This book was released on 2021-07-16 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s competitive markets, considering the demand and the supply chain sides is crucial to keeping revenue and customer satisfaction maximized. Managing and planning demand play a vital role in the sustainability of a company. This is the first book to the discuss managerial, mathematical, and conceptual framework of influencing factors on demand along with accurate mathematical analyses to evaluate and raise revenue. The book provides an understanding of the key elements that impact buyer demand. It presents the mathematical relationship between the influencing factors and the demand functions. It discusses the methods used for inspiring demand, how to measure demand dependency on components such as price, quality, and inventory, and it helps management improve alignment between supply and demand by affecting the level and understanding of the role within supply chain management (SCM). This book is applicable for the professional as well as for academia. It can help those working in SCM, project management, production, inventory control, scheduling, engineering management, retail management, and operations management.
Author : J. Christian Lang
Publisher : Springer Science & Business Media
ISBN 13 : 3642042473
Total Pages : 271 pages
Book Rating : 4.6/5 (42 download)
Download or read book Production and Inventory Management with Substitutions written by J. Christian Lang and published by Springer Science & Business Media. This book was released on 2009-11-25 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitativeapproachesforsolvingproductionplanningandinventorymanagement problems in industry have gained growing importance in the past years. Due to the increasinguse of AdvancedPlanningSystems, a widespreadpracticalapplicationof the sophisticated optimization models and algorithms developed by the Production Management and Operations Research community now seem within reach. The possibility that productscan be replaced by certain substitute productsexists in various application areas of production planning and inventory management. Substitutions can be useful for a number of reasons, among others to circ- vent production and supply bottlenecks and disruptions, increase the service level, reduce setup costs and times, and lower inventories and thereby decrease ca- tal lockup. Considering the current trend in industry towards shorter product life cycles and greater product variety, the importance of substitutions appears likely to grow. Closely related to substitutions are ?exible bills-of-materials and recipes in multi-level production systems. However, so far, the aspect of substitutions has not attracted much attention in academic literature. Existing lot-sizing models matching complex requirements of industrial optimization problems (e.g., constrained capacities, sequence-dependent setups, multiple resources) such as the Capacitated Lot-Sizing Problem with Sequence-Dependent Setups (CLSD) and the General Lot-Sizing and Scheduling Problem for Multiple Production Stages (GLSPMS) do not feature in substitution options.
Author : Shruti Jain (Associate professor of electronics and communication engineering)
Publisher : Springer Nature
ISBN 13 : 981998646X
Total Pages : 715 pages
Book Rating : 4.8/5 (199 download)
Download or read book Emergent Converging Technologies and Biomedical Systems written by Shruti Jain (Associate professor of electronics and communication engineering) and published by Springer Nature. This book was released on with total page 715 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book contains proceedings of the International Conference on Emergent Converging Technologies and Biomedical Systems ETBS 2023. It includes papers on wireless multimedia networks, green wireless networks, electric vehicles, biomedical signal processing, and instrumentation, wearable sensors for health care monitoring, biomedical imaging, and bio-materials, modeling, and simulation in medicine biomedical, and health informatics. The book serves as a useful guide for educators, researchers, and developers working in the areas of signal processing, imaging, computing, instrumentation, artificial intelligence, and their related applications. This book also provides support and aid to the researchers involved in designing the latest advancements in healthcare technologies.
Author : Cengiz Kahraman
Publisher : Springer Nature
ISBN 13 : 3031671953
Total Pages : 812 pages
Book Rating : 4.0/5 (316 download)
Download or read book Intelligent and Fuzzy Systems written by Cengiz Kahraman and published by Springer Nature. This book was released on with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jiuping Xu
Publisher : Taylor & Francis
ISBN 13 : 1003830730
Total Pages : 374 pages
Book Rating : 4.0/5 (38 download)
Download or read book Sustainable Logistics Systems Using AI-based Meta-Heuristics Approaches written by Jiuping Xu and published by Taylor & Francis. This book was released on 2024-01-18 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces and analyses recent trends and studies of sustainable logistics systems using AI-based meta-heuristics approaches, including AI-based meta-heuristics applied to supply chain network models, integrated multi-criteria decision-making approaches for green supply chain management, uncertain supply chain models etc. It emphasizes both theory and practice, providing methodological and theoretical basis as well as case references for sustainable logistics systems using AI based meta-heuristics. Most of multi-national enterprises today face the challenge of sustainable development for their logistics systems trying to meet or exceed customer expectations. Sustainable development attracts both researchers and industrial practitioners who are focused on the design and implementation of logistics system. AI-based meta-heuristics approaches has emerged as a capable method for quickly providing optimal or near-optimal solutions for the problems that exact optimization cannot solve. Recent advances in various AI-based meta-heuristics approaches can resolve various and complex logistics and supply chain problem types. This book mainly encompasses the most popular and frequently employed AI-based meta-heuristics approaches such as genetic algorithm, variable neighborhood search, multi-objective heuristic search and the hybrid of these approaches. The chapters in this book were originally published in the International Journal of Management Science and Engineering Management.
Author : Diptesh Ghosh
Publisher : Springer Nature
ISBN 13 : 981165820X
Total Pages : 224 pages
Book Rating : 4.8/5 (116 download)
Download or read book Studies in Quantitative Decision Making written by Diptesh Ghosh and published by Springer Nature. This book was released on 2022-03-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume is an in-depth collation of the usage of different quantitative decision making techniques in practical areas such as lean & green supply chain, reverse logistics, perishable logistics, closed loop supply chain, sustainable project management, retail management, block chain applications, optimal supplier selection problem, demand/supply modelling, forecasting under uncertainties, scheduling & sequencing, resource constraint logistics, dynamic network supply chain, risk evaluation, and so on. Additionally, the book also solves these issues in theoretical and practical context using innovative mathematical tools. Consisting of selected papers from the 23rd Annual International Conference of the Society of Operations Management, this book's highlight is not only the coverage of interesting topics, but also how these topics are dealt with, such that post-graduate students as well as researchers and industry personnel working in areas like engineering, economics, social sciences, management, mathematics, etc., can derive the maximum benefit by reading or referring to this book. Apart from the emphasis on new mathematical, operations research, operations management, and statistical techniques, the authors also ensure that all the concepts are made clear by highlighting their practical significance in different areas of applications of operations management. By using novel presentation methods, the book offers a good practical flavor of all the different topics relevant to operations management in the coming decades.
Author : Nita H. Shah
Publisher : Springer Nature
ISBN 13 : 9811396981
Total Pages : 470 pages
Book Rating : 4.8/5 (113 download)
Download or read book Optimization and Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2019-08-31 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
Author : Jing-Sheng J. Song
Publisher : Edward Elgar Publishing
ISBN 13 : 180037710X
Total Pages : 565 pages
Book Rating : 4.8/5 (3 download)
Download or read book Research Handbook on Inventory Management written by Jing-Sheng J. Song and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Author : Biswajit Sarkar
Publisher : MDPI
ISBN 13 : 303928522X
Total Pages : 618 pages
Book Rating : 4.0/5 (392 download)
Download or read book Application of Optimization in Production, Logistics, Inventory, Supply Chain Management and Block Chain written by Biswajit Sarkar and published by MDPI. This book was released on 2020-04-23 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evolution of industrial development since the 18th century is now experiencing the fourth industrial revolution. The effect of the development has propagated into almost every sector of the industry. From inventory to the circular economy, the effectiveness of technology has been fruitful for industry. The recent trends in research, with new ideas and methodologies, are included in this book. Several new ideas and business strategies are developed in the area of the supply chain management, logistics, optimization, and forecasting for the improvement of the economy of the society and the environment. The proposed technologies and ideas are either novel or help modify several other new ideas. Different real life problems with different dimensions are discussed in the book so that readers may connect with the recent issues in society and industry. The collection of the articles provides a glimpse into the new research trends in technology, business, and the environment.
Author : Laxminarayan Sahoo
Publisher : Springer Nature
ISBN 13 : 9811949298
Total Pages : 651 pages
Book Rating : 4.8/5 (119 download)
Download or read book Real Life Applications of Multiple Criteria Decision Making Techniques in Fuzzy Domain written by Laxminarayan Sahoo and published by Springer Nature. This book was released on 2022-12-01 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book discusses creative and recent developments of fuzzy systems and its real-life applications of multiple criteria decision making. Keeping on the existing fuzzy sets and recent developed fuzzy sets, viz., intuitionistic fuzzy, Pythagorean fuzzy, Fermatean fuzzy, Hesitant fuzzy and multiple criteria decision approaches, this book is committed to probing the soft computing techniques and fuzzy multiple criteria decision making in favour of fuzzy intelligent system and business analytics. It also addresses novel development of fuzzy set theory as well as real-life applications of fuzzy systems. It presents challenging and useful real-world applications based on problems of decision making in various fields. The modelling and solution procedures of such real-world problems will be provided concisely although all topics start with a more developed resolution. The contributory chapters will be based on the vast research experiences of the authors in real-world decision-making problems. This book provides readers with a valuable conspectus of several decision-making problems as a reference for researchers and industrial practitioners in this field. This book will broadly cover recent development of fuzzy systems and its applications of multiple criteria decision making in the areas of management and production, manufacturing management, selections problems, group decision making, transportation and logistics, inventory control systems and interval technique/fuzzy technique (uncertainty) of the above mentioned areas.
