Pub Date : 2018-08-09DOI: 10.1504/IJIR.2018.093806
Jianjun Yu, Xiaoyong Huang, K. Lyu
To study the problem of the optimal production decision of risk-neutral company and risk-averse farmer under the 'company + farmer' rental model, this paper is based on the traditional newsboy model from the perspective of supply chain coordination. By introducing a leasing model, the optimal production decision of supply chain is analysed in case of considering expected rents. For the case of considering the expected rent, the risk-averse farmer's production decision-making problem is discussed by introducing conditional value-at-risk (CVaR) and the conclusion is drawn that when facing the lower labour costs of agricultural products, the farmer can effectively avoid risks by using rental model under the 'company + peasant household'.
本文以传统报童模型为基础，从供应链协调的角度研究“公司+农民”租赁模式下风险中性企业和风险厌恶型农户的最优生产决策问题。通过引入租赁模型，分析了考虑预期租金情况下供应链的最优生产决策。在考虑预期租金的情况下，引入条件风险价值(conditional value- in -risk, CVaR)，讨论了风险厌恶型农民的生产决策问题，并得出结论:当面对较低的农产品劳动力成本时，采用“公司+农户”模式下的租金模型，农民可以有效规避风险。
{"title":"Research on optimal production decision for 'company + farmer' based on farmland leasing model","authors":"Jianjun Yu, Xiaoyong Huang, K. Lyu","doi":"10.1504/IJIR.2018.093806","DOIUrl":"https://doi.org/10.1504/IJIR.2018.093806","url":null,"abstract":"To study the problem of the optimal production decision of risk-neutral company and risk-averse farmer under the 'company + farmer' rental model, this paper is based on the traditional newsboy model from the perspective of supply chain coordination. By introducing a leasing model, the optimal production decision of supply chain is analysed in case of considering expected rents. For the case of considering the expected rent, the risk-averse farmer's production decision-making problem is discussed by introducing conditional value-at-risk (CVaR) and the conclusion is drawn that when facing the lower labour costs of agricultural products, the farmer can effectively avoid risks by using rental model under the 'company + peasant household'.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124342097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-08-09DOI: 10.1504/IJIR.2018.093805
P. V. Laxmi, M. Soujanya
In this paper, we consider a continuous review perishable inventory system in which two types of customers, positive and negative, arrive according to a Markovian arrival process. The life time of an item and the lead time of reorder are exponentially distributed. Demands that occur during stock out period or busy period either enter an orbit of size N or are lost. The orbital demands compete their service with an exponential rate depending on the number of demands in the orbit. The waiting demands in the orbit may renege the system after an exponentially distributed amount of time. The server takes multiple working vacations at zero inventory. The steady state joint probability distribution of the number of customers in the orbit and the inventory level is obtained. Various performance measures and cost analysis are shown with numerical results.
{"title":"Perishable inventory model with Markovian arrival process, retrial demands and multiple working vacations","authors":"P. V. Laxmi, M. Soujanya","doi":"10.1504/IJIR.2018.093805","DOIUrl":"https://doi.org/10.1504/IJIR.2018.093805","url":null,"abstract":"In this paper, we consider a continuous review perishable inventory system in which two types of customers, positive and negative, arrive according to a Markovian arrival process. The life time of an item and the lead time of reorder are exponentially distributed. Demands that occur during stock out period or busy period either enter an orbit of size N or are lost. The orbital demands compete their service with an exponential rate depending on the number of demands in the orbit. The waiting demands in the orbit may renege the system after an exponentially distributed amount of time. The server takes multiple working vacations at zero inventory. The steady state joint probability distribution of the number of customers in the orbit and the inventory level is obtained. Various performance measures and cost analysis are shown with numerical results.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122534550","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-08-09DOI: 10.1504/IJIR.2018.093808
C. Chiu, Zhanwen Peng
Online sales platform is a new opportunity for fashion designers to promote their own designs. In this article, we investigate the fashion designer's optimal pricing and production decisions, and product category management by incorporating the scarcity effect and the product variety benefit. We find that the popularity of the designer is very crucial in this problem. Specifically, a more popular designer can increase the price and product quantity to obtain more profit with less number of product designs, while an un-famous designer can benefit from the high demand variability. Moreover, the numerical analysis shows that the un-famous designer can benefit from increasing product variety, but it is not true for the famous designer.
{"title":"The optimal pricing, quantity decision, number of product of online designer with scarcity effect and product variety benefit","authors":"C. Chiu, Zhanwen Peng","doi":"10.1504/IJIR.2018.093808","DOIUrl":"https://doi.org/10.1504/IJIR.2018.093808","url":null,"abstract":"Online sales platform is a new opportunity for fashion designers to promote their own designs. In this article, we investigate the fashion designer's optimal pricing and production decisions, and product category management by incorporating the scarcity effect and the product variety benefit. We find that the popularity of the designer is very crucial in this problem. Specifically, a more popular designer can increase the price and product quantity to obtain more profit with less number of product designs, while an un-famous designer can benefit from the high demand variability. Moreover, the numerical analysis shows that the un-famous designer can benefit from increasing product variety, but it is not true for the famous designer.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132371920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-18DOI: 10.1504/IJIR.2018.10013398
Y. Gerchak
A retailer sets prices, as well as, simultaneously, selects quantities to order from the supplier. We consider a two-period setting where the second period's demand depends on the first period's ('reference') price, as well as on the second period price. We consider a linear-additive demand function as well as a novel iso-elastic multiplicative model.
{"title":"On inventory control with reference prices: a technical note","authors":"Y. Gerchak","doi":"10.1504/IJIR.2018.10013398","DOIUrl":"https://doi.org/10.1504/IJIR.2018.10013398","url":null,"abstract":"A retailer sets prices, as well as, simultaneously, selects quantities to order from the supplier. We consider a two-period setting where the second period's demand depends on the first period's ('reference') price, as well as on the second period price. We consider a linear-additive demand function as well as a novel iso-elastic multiplicative model.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123888374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-18DOI: 10.1504/IJIR.2018.10013403
A. Patoghi, Mostafa Setak
In this paper an inventory system for non-instantaneous deteriorating items with imprecise deterioration free time is developed. We adopt a price and advertisement frequency dependent demand function, and in order to reach a general framework, arbitrary functions of deterioration and holding cost rates are hired. The major objective is to determine the optimal selling price, the optimal replenishment cycle and the optimal frequency of advertisement such that, the total profit is maximised. In order to determine the optimal solution several theoretical results are derived which indicate existence and uniqueness of the optimal solution. Thereafter, based on these theoretical results an iterative solution is developed. Finally, numerical examples are provided to demonstrate solution procedure, then sensitivity analysis is performed, it is shown that optimal policy under uncertain environment and crisp environment are identical and finally some managerial insights are proposed.
{"title":"Coordinating replenishment and marketing policies for non-instantaneous deteriorating items with imprecise deterioration free time and general deterioration and holding cost rates","authors":"A. Patoghi, Mostafa Setak","doi":"10.1504/IJIR.2018.10013403","DOIUrl":"https://doi.org/10.1504/IJIR.2018.10013403","url":null,"abstract":"In this paper an inventory system for non-instantaneous deteriorating items with imprecise deterioration free time is developed. We adopt a price and advertisement frequency dependent demand function, and in order to reach a general framework, arbitrary functions of deterioration and holding cost rates are hired. The major objective is to determine the optimal selling price, the optimal replenishment cycle and the optimal frequency of advertisement such that, the total profit is maximised. In order to determine the optimal solution several theoretical results are derived which indicate existence and uniqueness of the optimal solution. Thereafter, based on these theoretical results an iterative solution is developed. Finally, numerical examples are provided to demonstrate solution procedure, then sensitivity analysis is performed, it is shown that optimal policy under uncertain environment and crisp environment are identical and finally some managerial insights are proposed.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115955666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-18DOI: 10.1504/IJIR.2018.10013396
R. Bhattacharjee, B. Giri, A. Chakraborty
The paper considers an integrated single-vendor single-buyer supply chain model in which the vendor is assumed to be capacity constrained. The vendor can keep the excess units beyond the capacity of its own warehouse (OW) in a rented warehouse (RW) whose holding cost is higher than that of the own warehouse. The vendor delivers the buyer's order quantity in a number of equal shipments. The proposed integrated model is formulated and some of its characteristics are studied analytically. Considering the vendor's capacity as a control variable, the optimal decisions of the model are obtained for a numerical example. Sensitivity analysis is also carried out to measure the impact of key model-parameters on the outcome of the model.
{"title":"An optimal policy for an integrated vendor-buyer model with two warehouses under vendor's capacity constraint","authors":"R. Bhattacharjee, B. Giri, A. Chakraborty","doi":"10.1504/IJIR.2018.10013396","DOIUrl":"https://doi.org/10.1504/IJIR.2018.10013396","url":null,"abstract":"The paper considers an integrated single-vendor single-buyer supply chain model in which the vendor is assumed to be capacity constrained. The vendor can keep the excess units beyond the capacity of its own warehouse (OW) in a rented warehouse (RW) whose holding cost is higher than that of the own warehouse. The vendor delivers the buyer's order quantity in a number of equal shipments. The proposed integrated model is formulated and some of its characteristics are studied analytically. Considering the vendor's capacity as a control variable, the optimal decisions of the model are obtained for a numerical example. Sensitivity analysis is also carried out to measure the impact of key model-parameters on the outcome of the model.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"169 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114921760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-18DOI: 10.1504/IJIR.2018.10013405
Nita H. Shah, M. K. Naik
This paper addresses a working model for non-instantaneous deteriorating items including the learning effect on various costs and the preservation technology investment to reduce the deterioration rate. The system includes time and price sensitive demand. The objective is to maximise the total profit per unit time by finding optimal joint selling price, replenishment cycle time, the preservation technology investment per unit time, ordering quantity and the shortage period. A numerical example is presented to validate the policy investigated in this paper. Further, the sensitivity analysis about the key parameters is conducted to obtain the managerial insights.
{"title":"Inventory model for non-instantaneous deterioration and price-sensitive trended demand with learning effects","authors":"Nita H. Shah, M. K. Naik","doi":"10.1504/IJIR.2018.10013405","DOIUrl":"https://doi.org/10.1504/IJIR.2018.10013405","url":null,"abstract":"This paper addresses a working model for non-instantaneous deteriorating items including the learning effect on various costs and the preservation technology investment to reduce the deterioration rate. The system includes time and price sensitive demand. The objective is to maximise the total profit per unit time by finding optimal joint selling price, replenishment cycle time, the preservation technology investment per unit time, ordering quantity and the shortage period. A numerical example is presented to validate the policy investigated in this paper. Further, the sensitivity analysis about the key parameters is conducted to obtain the managerial insights.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121910052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-18DOI: 10.1504/IJIR.2018.10013395
M. Pal, Anwesha Samanta
The paper studies an inventory model for non-instantaneous deteriorating item where the deterioration of the item is initiated at a random time point. It is assumed that no shortages are allowed and demand occurs uniformly but at different rates during pre- and post-deterioration periods. The optimum order quantity and reorder intervals are determined so as to minimise the total expected cost per unit length of an inventory cycle. Numerical examples are cited and a sensitivity analysis is carried out to study the effect of model parameters on the optimum policy.
{"title":"Inventory model for non-instantaneous deteriorating item with random pre-deterioration period","authors":"M. Pal, Anwesha Samanta","doi":"10.1504/IJIR.2018.10013395","DOIUrl":"https://doi.org/10.1504/IJIR.2018.10013395","url":null,"abstract":"The paper studies an inventory model for non-instantaneous deteriorating item where the deterioration of the item is initiated at a random time point. It is assumed that no shortages are allowed and demand occurs uniformly but at different rates during pre- and post-deterioration periods. The optimum order quantity and reorder intervals are determined so as to minimise the total expected cost per unit length of an inventory cycle. Numerical examples are cited and a sensitivity analysis is carried out to study the effect of model parameters on the optimum policy.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"919 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131804175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-19DOI: 10.1504/IJIR.2017.10009653
Mohamed M. Ohaiba, M. S. Hossain, B. Sarker
The research presents an integrated inventory model for a single-vendor-single-buyer consignment stock policy where demand rate and lead-time are constant. The vendor controls the buyer's warehouse, whereas the stock of all finished goods is owned by the vendor. The vendor delivers finished goods to the buyer at a fixed lot size. Shortage is not allowed by controlling the production rate greater than the demand rate. The problem is formulated as a nonlinear cost model which is minimised to arrive at an optimal policy to cooperatively operate the joint contract. An iterative search approach is followed to obtain an optimal value of order quantity and number of shipments. Computational results are presented for a practical example and some empirical studies. The model presented here are applicable in numerous supply chain systems including retail business, assembly and production houses, where two parties are tied together for achieving their common goal.
{"title":"Optimal consignment stocking policy for a vendor-buyer supply chain system with periodic inventory audit and in-transit holding cost","authors":"Mohamed M. Ohaiba, M. S. Hossain, B. Sarker","doi":"10.1504/IJIR.2017.10009653","DOIUrl":"https://doi.org/10.1504/IJIR.2017.10009653","url":null,"abstract":"The research presents an integrated inventory model for a single-vendor-single-buyer consignment stock policy where demand rate and lead-time are constant. The vendor controls the buyer's warehouse, whereas the stock of all finished goods is owned by the vendor. The vendor delivers finished goods to the buyer at a fixed lot size. Shortage is not allowed by controlling the production rate greater than the demand rate. The problem is formulated as a nonlinear cost model which is minimised to arrive at an optimal policy to cooperatively operate the joint contract. An iterative search approach is followed to obtain an optimal value of order quantity and number of shipments. Computational results are presented for a practical example and some empirical studies. The model presented here are applicable in numerous supply chain systems including retail business, assembly and production houses, where two parties are tied together for achieving their common goal.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115202807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-19DOI: 10.1504/IJIR.2017.10009643
L. Zschorn, Steve Müller, D. Ivanov
The focus of this study is on tactical-level capacity management which refers to the determination of in-house workforce production capacity in an optimal cost-efficient manner in a multi-period mode. Two options for capacity planning are investigated for rapid prototyping with the help of a mixed-integer linear optimisation model: smoothing the capacity utilisation over time vs. a higher level of capacity availability. A sensitivity analysis based on real empirical data in Siemens AG is used for the revealing the impact of workforce and capacity flexibility on operational performance. The results suggest that the number of workers decreases if production orders have not to be completed within only one week. On the contrary, if the binary restriction on the order fulfilment within one week is released, the production orders can be split into different weeks and this results in a higher smoothing rate and thus in a higher capacity utilisation degree.
{"title":"Capacity planning on key work stations in a hybrid MTO-ETO production system: a case-study on Siemens AG","authors":"L. Zschorn, Steve Müller, D. Ivanov","doi":"10.1504/IJIR.2017.10009643","DOIUrl":"https://doi.org/10.1504/IJIR.2017.10009643","url":null,"abstract":"The focus of this study is on tactical-level capacity management which refers to the determination of in-house workforce production capacity in an optimal cost-efficient manner in a multi-period mode. Two options for capacity planning are investigated for rapid prototyping with the help of a mixed-integer linear optimisation model: smoothing the capacity utilisation over time vs. a higher level of capacity availability. A sensitivity analysis based on real empirical data in Siemens AG is used for the revealing the impact of workforce and capacity flexibility on operational performance. The results suggest that the number of workers decreases if production orders have not to be completed within only one week. On the contrary, if the binary restriction on the order fulfilment within one week is released, the production orders can be split into different weeks and this results in a higher smoothing rate and thus in a higher capacity utilisation degree.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133070124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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