Multi-Item Inventory Control Model with Space Constraints for Perishable Items

Multi-Item Inventory Control Model with Space Constraints for Perishable Items
Author: G.N Purohit
Publisher:
Total Pages: 0
Release: 2012
Genre:
ISBN:

Download Multi-Item Inventory Control Model with Space Constraints for Perishable Items Book in PDF, Epub and Kindle

In this paper, a multi-item inventory control model is developed for perishable items in which production (or supply) is instantaneous with no lead time. Demand is uniform and deterministic and shortages are not allowed. The model is solved analytically for minimizing the total inventory cost, using Kuhn-Tucker theorem. The results are also illustrated numerically.

Inventory Control of Large Scale Multi-Item System with Minimum Order Quantity Constraint and Non-Stationary Demand

Inventory Control of Large Scale Multi-Item System with Minimum Order Quantity Constraint and Non-Stationary Demand
Author: Gaetan Deletoille
Publisher:
Total Pages: 0
Release: 2022
Genre:
ISBN:

Download Inventory Control of Large Scale Multi-Item System with Minimum Order Quantity Constraint and Non-Stationary Demand Book in PDF, Epub and Kindle

We consider a large scale multi-item periodic-review stochastic inventory system with Minimum Order Quantity (MOQ) requirements on the total order size of all items. The item demands are stochastic and non-stationary. The retailer must decide at each time period whether and how many of each item to order from the supplier. The goal is to maximize the reward generated by satisfying the end customers demands while minimizing the costs of holding unsold inventory. We introduce a parameterized heuristic, the w-policy, that relies on our detailed analysis of the problem.We demonstrate the scalability of this heuristic up to ten thousand items, which is unmatched in the literature on the non-stationary demand version of the MOQ problem. The results of our numerical study on large scale real world data sets exhibit the efficiency of the w-policy in these challenging settings. Moreover, our numerical study shows that the w-policy performs at least as well as the state-of-the-art method (S,T) on the simplified problem when the demand is considered stationary, while being more robust in a real supply chain environment.Our results therefore indicate that the w-policy is more robust, has a larger scope of applicability, and is significantly more scalable than state of the art methods for multi-item stochastic inventory control with MOQ requirements.

Problems & Solutions in Inventory Management

Problems & Solutions in Inventory Management
Author: Dinesh Shenoy
Publisher: Springer
Total Pages: 285
Release: 2017-10-05
Genre: Technology & Engineering
ISBN: 3319656961

Download Problems & Solutions in Inventory Management Book in PDF, Epub and Kindle

This book presents a compilation of over 200 numerical problems and solutions that students can use to learn, practice and master the Inventory Control and Management concepts. Intended as a companion to any of the standard textbooks in Inventory Control and Management and written in simple language, it illustrates very clearly the steps students need to follow in order to solve a given problem. It also explains which solution methodologies can be used under which circumstances. Offering an ideal one-stop resource for mid-level engineering and business students who have taken Inventory Management or a related subject as an elective, this book is the only one students will ever need to prepare and gain confidence for their examinations in this subject.

OPERATIONS RESEARCH, THIRD EDITION

OPERATIONS RESEARCH, THIRD EDITION
Author: PANNEERSELVAM, R.
Publisher: PHI Learning Pvt. Ltd.
Total Pages: 642
Release: 2023-05-01
Genre: Business & Economics
ISBN: 9354438296

Download OPERATIONS RESEARCH, THIRD EDITION Book in PDF, Epub and Kindle

The third edition of this well-organized and comprehensive text continues to provide an in-depth coverage of the theory and applications of operations research. It emphasizes the role of operations research not only as an effective decision-making tool, but also as an essential productivity improvement tool to deal with real-world management problems. In the growing field of analytics, this text serves to have thorough understanding of the Operations Models that form constituents of the model base, which is a component of Decision Support System. This edition includes new carefully designed numerical examples that help in understanding complex mathematical concepts better. The book is an easy read, explaining the basics of operations research and discussing various optimization techniques such as • Overview of operations research • Queuing theory • Linear programming • Project management • Transportation problem • Decision theory • Assignment problem • Game theory • Network techniques • Production scheduling • Integer programming • Goal programming • Inventory control • Parametric linear programming • Dynamic programming • Nonlinear programming NEW TO THIS EDITION • Inclusion of more mathematical models in Chapter 2. • Incorporation of case studies in all the chapters to test the understanding, analysis, and provision solution for implementation of the concerned Operation Research techniques. • Introduction of a topic on ABC analysis in Chapter 7. • Access to Multiple Choice Questions with keys for each of the chapters as online resource materials. Visit: https://www.phindia.com/Operations_research_panneerselvam This book, with numerous pedagogical features, would be eminently suitable as a text for students of engineering, B.E/B.Tech (in specific mechanical, production, and industrial engineering), mathematics, statistics, and postgraduate students of management (MBA), industrial engineering and production engineering, data analytics, commerce, and computer applications (MCA).

Two Space-Constrained Multi-Item Deterministic Inventory Models

Two Space-Constrained Multi-Item Deterministic Inventory Models
Author:
Publisher:
Total Pages: 0
Release: 1975
Genre:
ISBN:

Download Two Space-Constrained Multi-Item Deterministic Inventory Models Book in PDF, Epub and Kindle

This paper presents two types of multi-item deterministic constrained inventory models which relate to the constraints of the equivalent of a direct support unit in the Federal German Army; namely, that there is only a limited amount of space available for storage of items. One is a continuous review model with no stockouts allowed and the other is a periodic review model where backorders are allowed. In contrast to previous models analyzed by Naddor and others, time phasing of the arrivals of orders of different items is allowed. The benefit derived from this phasing is the reduction in the average amounts of on-hand inventory and backorders. Solutions are obtained for the two-item case and the n-item case is discussed. Examples illustrate the results. (Author).

Optimization and Inventory Management

Optimization and Inventory Management
Author: Nita H. Shah
Publisher: Springer Nature
Total Pages: 470
Release: 2019-08-31
Genre: Business & Economics
ISBN: 9811396981

Download Optimization and Inventory Management Book in PDF, Epub and Kindle

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.

Models for Multi-Item Inventory Systems with Constraints

Models for Multi-Item Inventory Systems with Constraints
Author: William Edward Daeschner (Jr)
Publisher:
Total Pages: 119
Release: 1975
Genre:
ISBN:

Download Models for Multi-Item Inventory Systems with Constraints Book in PDF, Epub and Kindle

Constrained multi-item inventory systems with stochastic demands are addressed. The concept of Bad Buys is introduced and their temporal development is studied through a model which links the financial and line-item inventory control subsystems. The interaction of budget constraints and control policies having stochastic resource requirement are examined using a queueing model. Some line-item control systems in current use are shown to be incompatible with budget constrained financial control mechanisms. A model and solution procedure are furnished to guide the line-item inventory control subsystem in exercising adaptive control of a multi-item inventory with stochastic demands and fixed resources provided in successive fiscal periods. An interactive FORTRAN computer program is furnished which exploits the Generalized Lagrange Multiplier procedure in obtaining optimal or near-optimal integer solutions to a class of non-linear integer programming problems.

A Goal-constraint Formulation for Multi-item Inventory Systems

A Goal-constraint Formulation for Multi-item Inventory Systems
Author: Albert Paul Tully
Publisher:
Total Pages: 0
Release: 1968
Genre:
ISBN:

Download A Goal-constraint Formulation for Multi-item Inventory Systems Book in PDF, Epub and Kindle

Historically multi-item inventory control has been modeled by assuming that each item can be treated independently in a variable cost minimization formulation. In this paper independence between items is not assumed. Constraints on total system operating characteristics create inter-item dependencies. Optimal policies are determined from a goal-constraint formulation. This is done without reliance upon unknown parameters such as order cost and carrying cost which the traditional theory leans on heavily. A group of models are presented, with necessary and sufficient conditions for optimal solutions provided for each. In addition, solution algorithms are indicated for the major models. An algorithm for verification of sufficiency conditions for a non-convex objective function is also provided. (Author).

Two Space-Constrained Multi-Item Deterministic Inventory Models

Two Space-Constrained Multi-Item Deterministic Inventory Models
Author: Klaus Lieding
Publisher:
Total Pages: 60
Release: 1975
Genre:
ISBN:

Download Two Space-Constrained Multi-Item Deterministic Inventory Models Book in PDF, Epub and Kindle

This paper presents two types of multi-item deterministic constrained inventory models which relate to the constraints of the equivalent of a direct support unit in the Federal German Army; namely, that there is only a limited amount of space available for storage of items. One is a continuous review model with no stockouts allowed and the other is a periodic review model where backorders are allowed. In contrast to previous models analyzed by Naddor and others, time phasing of the arrivals of orders of different items is allowed. The benefit derived from this phasing is the reduction in the average amounts of on-hand inventory and backorders. Solutions are obtained for the two-item case and the n-item case is discussed. Examples illustrate the results. (Author).

Inventory and Production Management in Supply Chains

Inventory and Production Management in Supply Chains
Author: Edward A. Silver
Publisher: CRC Press
Total Pages: 810
Release: 2016-12-19
Genre: Business & Economics
ISBN: 1466558628

Download Inventory and Production Management in Supply Chains Book in PDF, Epub and Kindle

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.