Preservation Technology Investment Research Articles

Production-inventory model with price-sensitive demand, volume agility and investment in preservation technology

Production-inventory model with price-sensitive demand, volume agility and investment in preservation technology

An integrated inventory model for imperfect production system incorporating marketing decisions with an investment in preservation technology

An integrated inventory model for imperfect production system incorporating marketing decisions with an investment in preservation technology

An integrated inventory model for imperfect production system incorporating marketing decisions with an investment in preservation technology

This paper develops an inventory framework which considers a 'single-vendor' and a 'single-buyer'. The vendor administers the manufacturing procedure which has been supposed as imperfect because it...

An inventory model for ameliorating and deteriorating items with stock and price dependent demand and time dependent holding cost with preservation technology investment

An inventory model for ameliorating and deteriorating items with stock and price dependent demand and time dependent holding cost with preservation technology investment

Preservation technology investment, trade credit and partial backordering model for a non-instantaneous deteriorating inventory

In a perfectly transparent and competitive market, suppliers must provide a competitive pricing and service for their customers. The aim of this study is to provide an insight into how preservation technology and credit financing could be used both to reduce the deterioration rate as well as to provide flexible financing for retailers. The methodology is to optimize the cycle length, selling price, the amount of preservation technology and credit financing using inventory theory. The result derived is an optimal total profit per unit time for the system. Finally, using MATLAB 2017a, it is shown graphically that the profit function is concave. The sensitivity analysis is illustrated using Lingo 17. The study not only provides insights to business managers in making wise managerial decisions, it also enables them to weigh the pro and con of implementing preservation technology and credit financing.

Inventory policies for non-instantaneous deteriorating items with preservation technology investment under price-sensitive time-dependent demand

Inventory policies for non-instantaneous deteriorating items with preservation technology investment under price-sensitive time-dependent demand

Optimal production time and preservation technology investment for seasonal deteriorating products with a generalized ramp-type demand

A production-inventory model with price- and ramp-type time-dependent demand is developed in this paper. In view of the observation that the demand for a seasonal product initially increases with t...

Optimal production time and preservation technology investment for seasonal deteriorating products with a generalised ramp-type demand

Optimal production time and preservation technology investment for seasonal deteriorating products with a generalised ramp-type demand

An Inventory System Using Preservation Technology Investment for Ameliorating and Deteriorating Items with Ramp-Type Demand Dependent on Price and Time and Partial Backlogging

An Inventory System Using Preservation Technology Investment for Ameliorating and Deteriorating Items with Ramp-Type Demand Dependent on Price and Time and Partial Backlogging

The ramification of dynamic investment on the promotion and preservation technology for inventory management through a modified flower pollination algorithm

The dynamic rate of investment in promotion during different price-ranges and the optimum investment in preservation technology are developed for seasonable or fashionable products through their lifespan. An order level inventory model for deteriorating items with promotional price and trapezoidal-type demand rate is used to maximize the profit of a retailer. The deterioration rate is dependent on the preservation technology i.e., more investment in preservation reduces the rate of deterioration. The aim of this study is to obtain the optimum dynamic investment for the promotion. The optimal control theory is employed to obtain the dynamic investment rates. A modified flower pollination Algorithm is applied to find the optimal pricing scheme, preservation technology investment, and replenishment schedule. An illustrated algorithm based numerical experiment is conducted to validate the dynamic behaviour of the investment. Sensitivity analysis has been carried out with respect to the major parameters to prove the novelty of the algorithm and explored the managerial insights of the proposed model. Numerical studies obtain that dynamical investment is really beneficial for the management of stocks.

Multistage supply chain production–inventory model with collaborative preservation technology investment

This paper investigates a multistage production–inventory model for deteriorating items, including raw materials and finished goods, based on collaborative preservation technology investment, hitherto not treated in the previous researches. The major purpose is to determine the optimal materials supply, production delivery, replenishment and investment policies for maximizing the joint total profit of the integrated system. Considering the proposed model, this paper uses mathematical programming analysis to ascertain the optimal solutions. Furthermore, several numerical examples are presented to demonstrate the solution process and verify the concavity of the proposed model. Sensitivity analyses with respect to major parameters are also performed. The numerical results shows that market demand, fixed shipping cost, production rate, manufacturer’s sales price and holding cost of finished goods may affect the optimal number of shipments. Besides, when collaborative preservation technology investment becomes an option, whether the effect of the deterioration rate of raw materials or finished goods on the shipping and ordering quantity will be reduced by preservation technology investment. Finally, the increase in the amount of raw materials used to produce a finished product implies the amount of finished goods produced by the original material quantity is reduced, so the preservation technology investment will be increased.

Discount pricing policy for deteriorating items under preservation technology cost and shortages

This paper presents an inventory model with a constant rate of deterioration of the product, and shortages are allowed at the end of the cycle. The stock-dependent and price-sensitive demand have been considered with a policy of providing price discount to uplift the market demand. Preservation technology is applied to preserve the items from deterioration. The objective of this model is to maximize the total profit function by finding the optimal replenishment time, the optimal preservation technology investment and the optimal quantity. Next, we have shown that the total profit is a concave function of the replenishment time and preservation technology cost. Discount in pricing may be offered at a time of festival, season breaks down, lockdown and clearance of stock, before introducing a new product with up-gradations, etc. Numerical examples and graphical analysis are provided to explain the model. The discount policy could help any business organizations for smooth running of the business and obtain respective optimal profit.

Optimum sustainable inventory management with backorder and deterioration under controllable carbon emissions

Reducing carbon emissions is crucial in the development of a green supply chain. Greenhouse firms regulate carbon emission constraints to achieve sustainable supply chains. Deterioration can be controlled by utilizing a preservation technology investment in most of greenhouse firms as they have a specific (summer) time. Despite the importance of these concerns, few researches have been done on the effect of carbon emissions on the lot sizing sustainable inventory management. To fill this gap, this study develops a carbon cap and tax-regulated sustainable inventory management for a buyer utilizing a linear and non-linear price-dependent demand. This is the first study to explore sustainable inventory management under controllable carbon emissions from a greenhouse farm. An investment in preservation and green technology efforts under different backorder situations is needed. This model furnishes both theoretical and numerical solutions to determine optimal strategies relating to preservation technology (PRT) and green technology (GRT) investment, selling price, cycle time, and the fraction period length for sustainable inventory management. Several numerical examples are presented to validate all sustainable economic order quantity models. This problem is solved by theoretical and analytical methods. The results of this paper, in a controllable sustainable inventory management partial backordering case, exhibit a justifiable amount of profit compared with other backordering cases. The results of this paper are sustainable inventory management in the carbon tax and cap partial backlogging case has a better justifiable profit with the highest cycle time and the lowest value of the fraction length period as well as the lower green technology investment cost compared with other models. Finally, sensitivity analysis is discussed in relation to the managerial implications of the optimal feasible solution with respect to key parameters.

An inventory model under price and stock dependent demand for controllable deterioration rate with shortages and preservation technology investment: revisited

Mishra et al. (Ann Oper Res 254(1–2):165–190, 2017) proposed an EOQ model for a deteriorating seasonal product where demand was considered as a function of stock and selling price. Their model practiced preservation technology in order to control the deterioration rate. Further, shortages were allowed and two different scenarios, complete backordering and partial backordering were dealt with in individual cases. The model jointly optimized selling price, ordering frequency and investment in preservation technology under a profit maximization scenario. The problem they investigated depicts a practical real-life scenario, but the mathematical modelling is incorrect. Thus, the numerical results, special cases and managerial insights are debatable. Realizing the significant contribution of the model in question to the existing literature, we revisit the model to provide a corrected comprehensive version. The present model’s optimality has been proved mathematically. Further, the model has been validated using numerical analysis. Sensitivity analysis has been performed to test the robustness of the model.

A study of inventory model for deteriorating items with price and stock dependent demand under the joined effect of preservation technology and price discount facility

The purpose of this paper is to develop an economic order quantity model for deteriorating items with price and stock dependent demand, deterioration rate with preservation technology and price discount facility. The proposed model focused on two things. The first one is the consideration of the fact that the deterioration rate can be reduced by the use of preservation technology investment and the second one is using the assumption that the unit purchase cost has a hostile relationship with the order size to maximize the total profit. The concept of salvage value is considered and incorporated in this model. The solution procedure of proposed optimization model is illustrated by a couple of numerical examples. Concavity of the average profit function is shown by plotting graphs. Sensitivity analysis is performed to study the effect of changing the value of all parameters in the proposed maximization model.

Optimizing preservation strategies for deteriorating items with time-varying holding cost and stock-dependent demand

Organizations are keen on rethinking and optimizing their existing inventory strategies so as to attain profitability. The phenomenon of deterioration is a common phenomenon while managing any inventory system. However, it could become a major challenge for the business if not dealt carefully. An investment in preservation technology is by far the most inuential move towards dealing with deterioration proficiently. Additionally, it is noticed that the demand pattern of many products is reliant on its availability and usability. Thus, considering demand of the product to be ?stock-dependent" is a more practical approach. Further, in case of deteriorating items, it is observed that the longer an item stays in the system the higher is its holding cost. Therefore, the model assumes the holding cost to be time varying. Hence, the proposed framework aims to develop an inventory model for deteriorating items with stock-dependent demand and time-varying holding cost under an investment in preservation technology. The objective is to determine the optimal investment in preservation technology and the optimal cycle length so as to minimize the total cost. Numerical example with various special cases have been discussed which signifies the effect of preservation technology investment in controlling the loss due to deterioration. Finally, the effect of key model features on the optimal solution is studied through sensitivity analysis which provides some important managerial implications.

Effect of Carbon-tax and Cap-and-trade mechanism on an inventory system with price-sensitive demand and preservation technology investment

In today's global decision-making context, government and organizations are highly concerned with environmental degradation caused by carbon emissions. Being environmental conscious, this paper investigates two different carbon policies viz., ?Carbon tax and Cap-and-trade mechanism". It is observed that the main sources of carbon emissions are transhipments, inventory holding, inventory deterioration, and its preservation. Demand for the item is considered to be selling price dependent. Further, a comparison between a ?carbon tax" and \cap-and-trade" policies has been illustrated. Some important managerial insights are obtained from numerical and sensitivity analyses. The present paper contributes to the existing literature of carbon control policies by developing optimal inventory models dealing with deteriorating items with preservation technology. Results suggest that firms should implement ?Cap-and-trade" policy to increase their total profit, which at the same time, will help in reducing the carbon emissions.

Inventory Policies for Non-instantaneous Deteriorating Items with Preservation technology investment under Price-sensitive Time-dependent demand

In this paper, we formulate a mathematical inventory model for non-instantaneous deteriorating items under price-sensitive and quadratic time-dependent demand. Products in the inventory system are ...

An Inventory Model for Ameliorating and Deteriorating Items with Stock and Price Dependent Demand and Time Dependent Holding Cost with Preservation Technology Investment

An inventory model is developed for ameliorating and deteriorating items considering stock and price dependent demand with completely backlogged shortages. Fast growing animals such as chicken, duc...

Preservation technology investment for an inventory system with variable deterioration rate under expiration dates and price sensitive demand

The proposed study addresses a supplier-retailer inventory problem by considering the detrimental impacts of deterioration. The inventory produced by the supplier undergo a machine-shift and hence, produces non-conforming items. The retailer uses the preservation technology to deal with deteriorating items ingeniously where the demand is price-sensitive at the buyers end. Two models are developed through different means viz. Integrated and Bi-level approach and compared so to impart some constructive organizational insights. Sensitivity analysis was done over a numerical example to validate strength of the developed models.