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An inventory model for deteriorating items with inflation induced demand and exponential partial backorders---a discounted cash flow approach / A. Thangam in International journal of management science and engineering management, Vol. 5 N° 3 (Juin 2010) 

Public ISBD [article]  in International journal of management science and engineering management > Vol. 5 N° 3 (Juin 2010) . - pp.170-174 Titre : An inventory model for deteriorating items with inflation induced demand and exponential partial backorders---a discounted cash flow approach Type de document : texte imprimé Auteurs : A. Thangam, Auteur ; R. Uthayakumar, Auteur Année de publication : 2011 Article en page(s) : pp.170-174 Note générale : Management Langues : Anglais (eng) Mots-clés : Inventory  Inflation  Partial  backordering  Deteriorating  items Résumé : Now-a-days the financial situation has changed at different countries due to inflation i.e. time value of money. As inflation increases the value of money goes down and it erodes the future worth of savings and forces one for more current spending. Usually, these spending are on peripherals and luxury items that give rise to demand of these items. In this paper, we intend to develop an inventory model for deteriorating items under inflationary conditions using a discounted cash flow (DCF) approach over a finite planning horizon. The demand rate is a function of inflation. In real life systems, some but not all customers will wait for the next order to satisfy their demands during stockout period. This situation is modeled by the consideration of partial backordering under negative exponential distribution of waiting time. An algorithm is developed to find optimal policy and the sensitivity analysis is studied with the help of numerical examples. DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?130.html [article] An inventory model for deteriorating items with inflation induced demand and exponential partial backorders---a discounted cash flow approach [texte imprimé] / A. Thangam, Auteur ; R. Uthayakumar, Auteur . - 2011 . - pp.170-174. Management Langues : Anglais (eng) in International journal of management science and engineering management > Vol. 5 N° 3 (Juin 2010) . - pp.170-174 Mots-clés : Inventory  Inflation  Partial  backordering  Deteriorating  items Résumé : Now-a-days the financial situation has changed at different countries due to inflation i.e. time value of money. As inflation increases the value of money goes down and it erodes the future worth of savings and forces one for more current spending. Usually, these spending are on peripherals and luxury items that give rise to demand of these items. In this paper, we intend to develop an inventory model for deteriorating items under inflationary conditions using a discounted cash flow (DCF) approach over a finite planning horizon. The demand rate is a function of inflation. In real life systems, some but not all customers will wait for the next order to satisfy their demands during stockout period. This situation is modeled by the consideration of partial backordering under negative exponential distribution of waiting time. An algorithm is developed to find optimal policy and the sensitivity analysis is studied with the help of numerical examples. DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?130.html

Ordering cost reduction in probabilistic inventory model with controllable lead time and a service level / K. Annadurai in International journal of management science and engineering management, Vol. 5 N° 6 (Décembre 2010) 

Public ISBD [article]  in International journal of management science and engineering management > Vol. 5 N° 6 (Décembre 2010) . - pp.403-410 Titre : Ordering cost reduction in probabilistic inventory model with controllable lead time and a service level Type de document : texte imprimé Auteurs : K. Annadurai, Auteur ; R. Uthayakumar, Auteur Année de publication : 2011 Article en page(s) : pp.403-410 Note générale : Management Langues : Anglais (eng) Mots-clés : Inventory  Ordering  cost  reduction  Service  level  constraint  Optimization Résumé : The issues of lead time reduction and ordering cost reduction in inventory management have become a matter of great interest. We present and analyze a probabilistic inventory model under continuous review for the system with controllable lead time and optimal ordering cost caused by investment strategy subject to a service level constraint. We assume that the lead time demand has a mixture of normal distributions. Instead of having a stock-out term in the objective function, a service level constraint is added. Computational algorithm using the software Matlab 7.0 is developed to find the optimal solution. Numerical examples are also given to illustrate the results and sensitivity analysis of the optimal solution with respect to the parameters of the system is carried out. By using our proposed model, we obtain a significant amount of savings, range from 5.42% to 5.93%. Finally, the effect of investment to reduce ordering cost is investigated. The numerical example shows that the model with varying order cost is better than the model with fixed ordering cost. One of the repercussions of this convergence is that if the ordering cost could be reduced effectively, then the total relevant cost per unit time could be automatically improved. DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?158.html [article] Ordering cost reduction in probabilistic inventory model with controllable lead time and a service level [texte imprimé] / K. Annadurai, Auteur ; R. Uthayakumar, Auteur . - 2011 . - pp.403-410. Management Langues : Anglais (eng) in International journal of management science and engineering management > Vol. 5 N° 6 (Décembre 2010) . - pp.403-410 Mots-clés : Inventory  Ordering  cost  reduction  Service  level  constraint  Optimization Résumé : The issues of lead time reduction and ordering cost reduction in inventory management have become a matter of great interest. We present and analyze a probabilistic inventory model under continuous review for the system with controllable lead time and optimal ordering cost caused by investment strategy subject to a service level constraint. We assume that the lead time demand has a mixture of normal distributions. Instead of having a stock-out term in the objective function, a service level constraint is added. Computational algorithm using the software Matlab 7.0 is developed to find the optimal solution. Numerical examples are also given to illustrate the results and sensitivity analysis of the optimal solution with respect to the parameters of the system is carried out. By using our proposed model, we obtain a significant amount of savings, range from 5.42% to 5.93%. Finally, the effect of investment to reduce ordering cost is investigated. The numerical example shows that the model with varying order cost is better than the model with fixed ordering cost. One of the repercussions of this convergence is that if the ordering cost could be reduced effectively, then the total relevant cost per unit time could be automatically improved. DEWEY : 658 ISSN : 1750-9653 En ligne : http://www.ijmsem.org/OnlineJournal.do/?158.html