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Journal articles on the topic 'Inventory management model with fixed volume of order'

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Published: 30 May 2022

Last updated: 31 July 2025

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1

Singh, Anil Kumar, Ravish Kumar Yadav, and Sanju Kumar. "A Sustainable And Environmentally Conscious Inventory Model With TPD Demand For Deteriorating Pharmaceutical Products Of Fixed Lifetime." International Journal of Environmental Sciences 11, no. 10s (2025): 689–701. https://doi.org/10.64252/k8aq3862.

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In this paper, an ecologically friendly inventory model was worked out for the pharmacy industry, where the management of stocks is even more difficult in the case of perishable stock and time- and price-variable demand. Normal models can typically do poorly with the dual difficulty of variable demand and decay, resulting in needlessly uncompliant stocking or stingy stockouts of stocks. The presented model brings together the time- and price-determined demand and time-varying deterioration rates and presents an empirical time and volume of orders optimization model. It can manage stocks effect

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Adedugba, Adebayo Tolulope, Olaleke O. Ogunnaike, Kingsley A. Adeyemo, Busola E. Kehinde, and Gbenga Oke. "Inventory Management Sustainability." International Journal of System Dynamics Applications 11, no. 1 (2022): 1–14. http://dx.doi.org/10.4018/ijsda.302630.

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Inventory optimality is an option of energy utilization proportionality that can lessen carbon emanations and maximize profitability. This study proposes an inventory management model in which the stock volume is optimally decided to diminish energy per resource utilized in-other to reduce carbon emanations. This will likewise help in concluding renewal volume optimally. Consequently, the study utilized economic order quantity (EOQ) to decide inventory volumes in-other to decrease carbon emanations so as to augment profits of the inventory chain. Partial least square(PLS) was additionally util

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3

O, Enagbonma, and Odidi B. E. "A Mathematical Model for Deciding Optimal Ordering Policy for Fixed Lifetime Inventories with Expected Insurance Costs." Asian Research Journal of Mathematics 21, no. 2 (2025): 89–104. https://doi.org/10.9734/arjom/2025/v21i2895.

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Managing inventory-related risks is crucial for companies dealing with fixed lifetime inventories. Previous researches have focused on the study of inventory management and risk management. However, there are no adequate study in the literature that combines these two critical aspects in the mamagement of fixed liftetime inventories. We developed a stochastic optimization problem and minimized the expected total costs. The aim of the study is to examine decisions as regards when to place order or not for the probabilistic fixed lifetime inventory model with expected insurance costs. We compute

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Peng, Guo Jian, Guo Min Chen, Gang Chen, and Ze Hua Liu. "An Optimization Discusses of College Teaching Material Inventory Based on Supply Chain Management." Applied Mechanics and Materials 268-270 (December 2012): 2066–70. http://dx.doi.org/10.4028/www.scientific.net/amm.268-270.2066.

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This article investigate the structural form and process of college textbook supply chain in detail, and find out the matters of college textbook inventory under the Supply Chain Management on the base of Supply Chain Management, inventory control, inventory optimization and Economic batch theory. According to that problem, this article put forward a college teaching material inventory optimization model based on Fixed Order Quantity and fixed kickback rate, which is compared with the supply of university teaching characteristics and economic batch basic model, and to optimize inventory strate

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Moeeni, Farhad, Stephen Replogle, Zariff Chaudhury, and Ahmad Syamil. "A Refinement of the Classical Order Point Model." International Journal of Information Systems and Supply Chain Management 5, no. 3 (2012): 43–57. http://dx.doi.org/10.4018/jisscm.2012070103.

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Factors such as demand volume and replenishment lead time that influence production and inventory control systems are random variables. Existing inventory models incorporate the parameters (e.g., mean and standard deviation) of these statistical quantities to formulate inventory policies. In practice, only sample estimates of these parameters are available. The estimates are subject to sampling variation and hence are random variables. Whereas the effect of sampling variability on estimates of parameters are in general well known in statistics literature, literature on inventory control polici

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6

Kwak, Jin-Kyung. "An Order-Up-to Inventory Model with Sustainability Consideration." Sustainability 13, no. 23 (2021): 13305. http://dx.doi.org/10.3390/su132313305.

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Along with growing interest in environmental concerns these days, significant academic efforts have been exerted to incorporate sustainability issues into the existing inventory models except for fixed-review interval (i.e., order-up-to models). In this study, we develop an order-up-to model considering environment-related costs and investigate the value of this new policy over the naïve one. Results of an extensive simulation study reveal that sustainability consideration reduces the total costs and that its value is higher when the mean demand is higher, when demand is more variable, when th

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Ardiananta, Izky, and Mursyid Hasan Basri. "Inventory Management Improvement at PT Inalum, Kuala Tanjung, Sumatra Utara." European Journal of Business and Management Research 9, no. 2 (2024): 71–78. http://dx.doi.org/10.24018/ejbmr.2024.9.2.2302.

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This research aimed to analyze the inventory issue in PT Inalum. The method used in this research is a quantitative method to collect inventory historical data from January 2022 to December 2022 obtained from the company’s ERP SAP. The data contains information of 6028 items of the MRO inventory. The collected data was analyzed using Economic Order Quantity (EOQ), Reorder Point (ROP), Safety Stock (SS) and Average Inventory Level (AIL). By using Fixed Order Quantity model, the MRO inventory is calculated to compare the ideal and actual average inventory levels. From the analysis, the researche

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Seifbarghy, Mehdi, Roger M. Hill, and David K. Smith. "A two-echelon inventory model with lost sales." European Journal of Operational Research 181, no. 2 (2006): 753–66. https://doi.org/10.1016/j.ejor.2006.08.017.

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This paper considers a single-item, two-echelon, continuous-review inventory model. A number of retailers have their stock replenished from a central warehouse. The warehouse in turn replenishes stock from an external supplier. The demand processes on the retailers are independent Poisson. Demand not met at a retailer is lost. The order quantity from each retailer on the warehouse and from the warehouse on the supplier takes the same fixed value Q, an exogenous variable determined by packaging and handling constraints. Retailer i follows a (Q, Ri) control policy. The warehouse operates an (SQ,

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Vicente, Joaquim Jorge. "Optimizing Supply Chain Inventory: A Mixed Integer Linear Programming Approach." Systems 13, no. 1 (2025): 33. https://doi.org/10.3390/systems13010033.

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Abstract: Inventory supply chain planning involves determining the quantity of products to be transported among entities within a specified planning horizon. Often, inventory levels are reviewed at set intervals: (1) Background: In this paper, periodic review (s,S) policy is used to optimize inventories from an integrated perspective of inventory management across the supply chain. The decision to place an order and the order quantity are based on the inventory level at the review time. If the inventory falls below a certain level (s), an order is placed to replenish it to a target level (S);

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Chovnіuk, Yurii, Aleksey Priymachenko, Olena Mischenko, Oleksandra Cherednichenko, and Liudmyla Zolotar. "IMPROVEMENT OF METHODS FOR ANALYZING AND EVALUATING THE EFFECTIVENESS OF INVENTORY MANAGEMENT IN THE WAREHOUSE." Spatial development, no. 10 (November 29, 2024): 656–77. https://doi.org/10.32347/2786-7269.2024.10.656-677.

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The paper considers the problematics of material resources management - stock on the basis of analyzing the main systems (models) of stock condition control, tak-ing into account the optimal ratio between investment in stocks and the level of cus-tomer service. The object of the study is the systems of stock condition control. The purpose of this research lies in the analysis and general characterization of models and methods of inventory control. The groups of expenses associated with the crea-tion and maintenance of inventories are defined. Factors that affect the choice of in-ventory contro

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Kacprzak, Dariusz, and Witold Kosiński. "Optimizing Firm Inventory Costs as a Fuzzy Problem." Studies in Logic, Grammar and Rhetoric 37, no. 1 (2014): 89–105. http://dx.doi.org/10.2478/slgr-2014-0019.

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AbstractThe fixed order quantity model of inventory management system is used in the deterministic part. Several elements of inventory cost, such as ordering cost, transportation and storing costs, frozen capital cost, as well as extra rebates, are taken into account in the model. Then the fuzzy optimization problem for the total cost function is formulated within the space of Ordered Fuzzy Numbers when all variables of the model are fuzzy. After the choice of a particular defuzzification functional an appropriate theorem is formulated which gives the solution of the problem.

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Anjani, Andan, and Adirizal Nizar. "Inventory management and cost efficiency." International Journal of Research in Business and Social Science (2147- 4478) 10, no. 2 (2021): 217–27. http://dx.doi.org/10.20525/ijrbs.v10i2.1042.

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This research aims to observe current inventory management applied by one of the medical equipment distributors specializing in eye health devices, and provide recommendations for an optimal inventory management system to achieve cost efficiency afterward. The method used in this research is quantitative, focusing on processing and analyzing numerical data obtained from the company to calculate safety stock and the number of orders. In addition, ABC classification is also used in data processing to group items based on their value. Items belonging to class A (having a value of 80% for the comp

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Risyahadi (Universitas IPB - Indonesia), Sazli Tutur, and Hanifah Yunan Putri (Universitas IPB - Indonesia). "UPAYA IMPROVEMENT PENGENDALIAN PERSEDIAAN SUKU CADANG DENGAN METODE FIXED TIME PERIOD PADA PT XYZ." Jurnal Manajemen Industri dan Logistik 3, no. 2 (2019): 129–40. http://dx.doi.org/10.30988/jmil.v3i2.122.

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Abstract Perusahaan yang memiliki keinginan untuk memenangkan persaingan yang terus meningkat di era globalisasi, perlu terus menerus melakukan perbaikan metode pengendalian persediaan suku cadangnya. Metode existing di perusahaan memiliki beberapa kekurangan seperti belum mempertimbangkan standar deviasi demand dan service level yang dikehendaki oleh perusahaan. Tujuan kajian ini adalah melakukan perbaikan pengelolaan persediaan suku cadang dengan menerapkan model yang memiliki karakteristik pengadaan yang sesuai dengan perusahaan. Model Fixed Time Period (FTP) adalah model yang sesuai karena

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Lin, Yiheng. "Application of ABC Analysis and Linear Regression Model in Inventory Management." Advances in Economics, Management and Political Sciences 126, no. 1 (2024): 111–19. https://doi.org/10.54254/2754-1169/2024.18326.

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Due to the competitive environment of commerce of today, supply chain management has become the core part of running a series of industries, earning profits, and having a direct impact on market response and customer feedback. Optimizing and managing inventory to reduce waste and increase profit becomes the main focus of todays supply chain. Therefore, this research focuses on analyzing inventory management through linear regression analysis and ABC analysis to investigate its potential problems. The research uses a dataset including product information, inventory status, and purchase and sale

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Nigul, Kristi, Allar Padari, Andres Kiviste, et al. "The Possibility of Using the Chapman–Richards and Näslund Functions to Model Height–Diameter Relationships in Hemiboreal Old-Growth Forest in Estonia." Forests 12, no. 2 (2021): 184. http://dx.doi.org/10.3390/f12020184.

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In light of the difficulties in stand volume estimation of natural forests, we analyzed height–diameter relationships and derived a set of height estimation equations for volume estimation for naturally developing forest ecosystems, using the Järvselja old-growth and the Laeva commercial forest in Estonia as a case study. This contribution presents an approach to model individual tree height–diameter relationships for Scots pine, common aspen, silver and downy birch, Norway spruce, black alder, gray alder, linden species, European ash, Norway maple, deciduous species and coniferous species in

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Kalaichelvan, Kalaiarasi, Nasreen Kausar, Sajida Kousar, Yeliz Karaca, Dragan Pamucar, and Mohammed Abdullah Salman. "Economic Order Quantity Model-Based Optimized Fuzzy Nonlinear Dynamic Mathematical Schemes." Computational Intelligence and Neuroscience 2022 (July 15, 2022): 1–9. http://dx.doi.org/10.1155/2022/3881265.

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Fuzzy mathematics-informed methods are beneficial in cases when observations display uncertainty and volatility since it is of vital importance to make predictions about the future considering the stages of interpreting, planning, and strategy building. It is possible to realize this aim through accurate, reliable, and realistic data and information analysis, emerging from past to present time. The principal expenditures are treated as fuzzy numbers in this article, which includes a blurry categorial prototype with pattern-diverse stipulation and collapse with salvation worth. Multiple paramet

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Chen, Chia-Nan, Chin-Hui Lai, Guan-Wei Lu, et al. "Applying Simulation Optimization to Minimize Drug Inventory Costs: A Study of a Case Outpatient Pharmacy." Healthcare 10, no. 3 (2022): 556. http://dx.doi.org/10.3390/healthcare10030556.

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Drug inventory management is an important part of hospital management. The large amounts of drug data in hospitals bring challenges to optimizing the setting values for the safety stock and the maximum inventory of each drug. This study combined a two-stage clustering method with an inventory policy (s, S) and established a simulation optimization model for the case hospital’s outpatient pharmacy. This research used the simulation optimization software Arena OptQuest, developed by Rockwell Automation Inc (Rockwell Automation, Coraopolis, PA, USA), in order to determine the minimum and maximum

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18

Shaikh, Ali Akbar, Leopoldo Eduardo Cárdenas–Barrón, Asoke Kumar Bhunia, and Sunil Tiwari. "An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit." RAIRO - Operations Research 53, no. 3 (2019): 903–16. http://dx.doi.org/10.1051/ro/2017052.

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This paper develops an inventory model for a deteriorating item with variable demand dependent on the selling price and frequency of advertisement of the item under the financial trade credit policy. Shortages are allowed and these are partially backlogged with a variable rate dependent on the duration of waiting time until to the arrival of next order. In this inventory model, the deterioration rate follows a three-parameter Weibull distribution. The corresponding inventory model is formulated and solved by using the well-known generalized reduced gradient method along with an algorithm. To v

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Emmanuel Mitaire TARURHOR (Ph.D) and Akanni Atanda OWOLABI. "ACCOUNT RECEIVABLE AND INVENTORY CONVERSION MANAGEMENT AS DETERMINANTS OF CORPORATE FINANCIAL PERFORMANCE: EVIDENCE FROM PUBLICLY QUOTED NIGERIAN FIRMS." Finance & Accounting Research Journal 4, no. 5 (2022): 271–80. http://dx.doi.org/10.51594/farj.v4i5.418.

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In this study, we examined whether account receivable and inventory conversion management (ICM) serve as a determinant of corporate financial performance. Ex-post facto design was used and sample of seventy-six (76) firms across various non-financial firm’s sectors were employed. Panel data were obtained from 2011-2019; data obtained were analyzed via descriptive (mean, median, standard deviation, minimum and maximum values, kurtosis, skewness and correlation matrix), diagnostic statistics (variance inflation factor, and unit root) and inferential (fixed and random effects model and Hausman sp

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20

Gupta, Kavita. "Inventory and transportation cost minimization in the delivery logistics of swine flu vaccine." Yugoslav Journal of Operations Research 27, no. 4 (2017): 481–97. http://dx.doi.org/10.2298/yjor160617022g.

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In this paper, we present a mathematical model of delivery logistics of swine flu vaccine in a rural area. The objective is to make the medicine available at the Primary health centres of that area in such a way that the total cost (purchasing and cartage) of obtaining the flu vaccination is minimized and the demand of the demand centres is met. One more constraint is taken into consideration: once the bottle of the medicine is opened, it has to be given to a fixed number of patients requiring swine flu vaccine simultaneously, failing which, the proportion of unused medicine becomes obsolete a

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ZHANG, JU-LIANG. "INTEGRATED DECISION ON PRICING, PROMOTION AND INVENTORY MANAGEMENT." Asia-Pacific Journal of Operational Research 29, no. 06 (2012): 1250038. http://dx.doi.org/10.1142/s0217595912500388.

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Firms often utilize promotion (such as coupons, advertisements, recruitment of excellent salespeople, and leafleting etc.) and dynamic adjustment of price to manage customers as well as proper production/inventory plan to satisfy the customers to get maximal profit in a firm. The decision on promotion and pricing and the decision on production/inventory must support each other. This paper addresses coordinated decision on pricing, promotion(non-price promotion) and inventory management. Specifically, we study a single item, periodic review model. The demand function is a linear demand function

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León, Roberto, Pablo A. Miranda-Gonzalez, Francisco J. Tapia-Ubeda, and Elias Olivares-Benitez. "An Inventory Service-Level Optimization Problem for a Multi-Warehouse Supply Chain Network with Stochastic Demands." Mathematics 12, no. 16 (2024): 2544. http://dx.doi.org/10.3390/math12162544.

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This research aims to develop a mathematical model and a solution approach for jointly optimizing a global inventory service level and order sizes for a single-commodity supply chain network with multiple warehouses or distribution centers. The latter face stochastic demands, such as most real-world supply chains do nowadays, yielding significant model complexity. The studied problem is of high relevance for inventory management, inventory location, and supply chain network design-related literature, as well as for logistics and supply chain managers. The proposed optimization model minimizes

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Marwa AbdElwahab. "Optimizing Food SME Inventory Using a Deep Reinforcement Learning Framework." Journal of Information Systems Engineering and Management 10, no. 37s (2025): 09–15. https://doi.org/10.52783/jisem.v10i37s.6374.

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Introduction: Inventory management is a critical challenge for small and medium-sized enterprises (SMEs), particularly in the food sector, due to the perishable nature of goods and fluctuating demand. Traditional inventory models often fail to adapt to these dynamic conditions, leading to inefficiencies and increased costs. Objectives: This study aims to develop a cost-effective and adaptive framework for inventory optimization in food-sector SMEs. The focus is on applying deep reinforcement learning techniques in single-stage or single-agent environments to simplify complex inventory systems

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Shevchenko-Kulchytska, K. I., K. O. Spiridonova, and O. V. Kakhovska. "Problems and Ways to Increase the Efficiency of Inventory Management of a Trading Company." Business Inform 12, no. 527 (2021): 191–201. http://dx.doi.org/10.32983/2222-4459-2021-12-191-201.

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The article defines the economic essence of stocks from the point of view of domestic and foreign scholers, as well as in accordance with the legislation of Ukraine. It is specified that the main form of sale of inventory are independent wholesale and retail trade enterprises. The detailed classification of stocks, which is necessary to track the dynamics of consumer demand and planning rational volumes of purchase of products, which is important for ensuring uninterrupted sale, is considered. The main models and systems of inventory management are analyzed, such as the system with the establi

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OUYANG, LIANG-YUH, KUN-SHAN WU, and CHIH-TE YANG. "AN EOQ MODEL WITH LIMITED STORAGE CAPACITY UNDER TRADE CREDITS." Asia-Pacific Journal of Operational Research 24, no. 04 (2007): 575–92. http://dx.doi.org/10.1142/s0217595907001371.

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In the classical economic order quantity (EOQ) inventory model, it was assumed that the retailer must pay for the received items immediately. However, in practice, the supplier not only allows retailer to settle the account after a certain fixed period but also may offer a cash discount to encourage the retailer to pay for his purchases as soon as possible. On the other hand, it is common practice in most inventory systems to hold excess stocks in a rented warehouse whenever the storage capacity of the owned warehouse is insufficient. Therefore, the purpose of this paper is to establish an EOQ

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Ruiz, Cesar, Edward Pohl, and Haitao Liao. "Bayesian degradation modelling for spare parts inventory management." IMA Journal of Management Mathematics 32, no. 1 (2020): 31–49. http://dx.doi.org/10.1093/imaman/dpaa008.

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Abstract Decision makers in various sectors, such as manufacturing and transportation, strive to minimize downtime costs. Often, brief-planned stoppage times allow for changes in shifts and line configurations and longer periods are scheduled for major repairs. It is quite important to proactively make use of these downtimes to reduce the costs of unexpected downtimes due to failures. Among many aspects, the availability of spare parts significantly affects the operational costs of such systems. Current sensor technologies enable the condition monitoring of critical components and degradation-

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Sumets, A. "Management of the formation of stocks of material resources of the enterprise." Ekonomìka ta upravlìnnâ APK, no. 1(162) (April 22, 2021): 191–97. http://dx.doi.org/10.33245/2310-9262-2021-162-1-191-197.

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The article deals with the problem of forming a reasonable level of stocks of material resources of the logistics system of a manufacturing enterprise. It was stated that in the share of material resources of industrial enterprises, the leading place is occupied by stocks of raw materials, materials, semi-finished products, and blanks. The latter belong to the category of inventories. Therefore, the management of this type of material resources is one of the most urgent tasks for enterprises. In this regard, there is a need for a modern approach to the problem of managing stocks of material re

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Lin, Hsien-Jen. "An integrated supply chain inventory model with imperfect-quality items, controllable lead time and distribution-free demand." Yugoslav Journal of Operations Research 23, no. 1 (2013): 87–109. http://dx.doi.org/10.2298/yjor110506019l.

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In this paper, we consider an integrated vendor-buyer inventory policy for a continuous review model with a random number of defective items and screening process gradually at a fixed screening rate in buyer?s arriving order lot. We assume that shortages are allowed and partially backlogged on the buyer?s side, and that the lead time demand distribution is unknown, except its first two moments. The objective is to apply the minmax distribution free approach to determine the optimal order quantity, reorder point, lead time and the number of lots delivered in one production run simultaneously so

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Ben-faress, Mouad*1 Grettet Driss2 &. Elouadi Abdelmajid3. "GLOBAL SUPPLY CHAIN NETWORK: INTERMITTENT DEMAND, COLLABORATION MODEL AND INVENTORY CONTROL." International Journal OF Engineering Sciences &Management Research 5, no. 4 (2018): 12–33. https://doi.org/10.5281/zenodo.1215532.

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A fundamental aspect of supply chain management in many industries especially for automotive sector,  is The inventory control of the products which have intermittent customer demand, it isessential for many organizations since its complexity makes it difficult to evaluateoverall performance, from customer demand to delivery and order fulfillment, Our research will contribute to the overall improvement of logistics flexibility by evaluating the effects of accurate forecasting on inventory control and performance improvement.   This paper discusses the various aspects of several resea

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Guo, Xingru, Aijun Liu, Xia Li, and Taoning Liu. "A two-stage stochastic model for daily reserve in inventory management of Rh-negative red blood cells." Journal of Intelligent & Fuzzy Systems 39, no. 5 (2020): 6919–33. http://dx.doi.org/10.3233/jifs-192182.

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Rh-negative rare blood inventory protection plays an important role in emergency blood protection. Normally, hospitals typically hold a fixed amount of daily reserve in response to emergency needs, but the measure can increase the unnecessary cost of repeated freezing and thawing. In order to save manpower, protect blood resources and reduce costs, a two-stage stochastic model is proposed to determine the optimal daily reserve of Rh-negative red blood cells, taking into account the uncertainty of demand. First, the model focuses on minimizing operational cost, shortage cost and damage caused b

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Baron, Opher, Oded Berman, and David Perry. "CONTINUOUS REVIEW INVENTORY MODELS FOR PERISHABLE ITEMS WITH LEADTIMES." Probability in the Engineering and Informational Sciences 34, no. 3 (2017): 317–42. http://dx.doi.org/10.1017/s0269964817000225.

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We consider a continuous review (s, S) model of perishable items with lost sales. Once items are perished the entire inventory drops instantaneously to zero. The total cost includes the cost of: ordering, unsatisfied demand, units destroyed, holding, and fixed cost of perishability. Both the time to perishability and the lead times are assumed to be exponentially distributed while two cases of demand distribution are considered: Poisson and compound Poisson with general demand sizes. We study the average cost criterion and provide computational results on the problem of finding the optimal re-

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Xi, Jia, and Ping Ba Sha. "Research on Optimization of Inventory Management Based on Demand Forecasting." Applied Mechanics and Materials 687-691 (November 2014): 4828–31. http://dx.doi.org/10.4028/www.scientific.net/amm.687-691.4828.

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Demand forecasting is the basis of the inventory management. Aiming at the problem of subjective forecasting method, we use quadratic exponential smoothing method to establish the mathematical model, to forecast sales volume of product A in every month in 2013. And based on demand forecasting, we put forward ABC classification management method to solve the inventory management issues. The research result of this paper has important implications in improving the inventory management level for many enterprises.Demand Forecasting and Inventory ManagementInventory management is an important part

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Cao, Bing-Bing, Zhi-Ping Fan, Hongyan Li, and Tian-Hui You. "Joint Inventory, Pricing, and Advertising Decisions with Surplus and Stockout Loss Aversions." Discrete Dynamics in Nature and Society 2016 (2016): 1–14. http://dx.doi.org/10.1155/2016/1907680.

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The newsvendor models considering decision-makers’ behavioral factors remain a fruitful research area in operation management field in past decade. In this paper, we further extend the current literatures to look into joint inventory, pricing, and advertising decisions considering loss aversion effects under the newsvendor setting. The purpose is to explore how the loss aversions affect the optimal policy of order quantity, price, and advertising effort level. We present an integrated utility model to measure both economic payoff and loss aversion utility of the newsvendor, where surplus loss

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Debnath, Manik, Sanat Kr Mazumder, Md Billal Hossain, Arindam Garai, and Csaba Balint Illes. "Optimal Base-Stock Inventory-Management Policies of Cement Retailers under Supply-Side Disruptions." Mathematics 11, no. 18 (2023): 3971. http://dx.doi.org/10.3390/math11183971.

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The current study aims to identify some optimal base-stock inventory-management policies that maximize the expected long-run profitability of cement retailers under potential supply-side disruptions. Unlike existing articles, the proposed economic order-quantity model considers periodically varying random demand rates of deteriorating items together with partially back-ordered shortages in the face of those random disruptions. This study computes the global concavity to execute the exemplary aspect for the optimal base-stock level under a slew of cost components and a fixed cycle length. Regar

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Liu, Lihua, Aneng He, Tian Tian, Lai Soon Lee, and Hsin-Vonn Seow. "Bi-Objective Mixed Integer Nonlinear Programming Model for Low Carbon Location-Inventory-Routing Problem with Time Windows and Customer Satisfaction." Mathematics 12, no. 15 (2024): 2367. http://dx.doi.org/10.3390/math12152367.

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In order to support a low-carbon economy and manage market competition, location–inventory–routing logistics management must play a crucial role to minimize carbon emissions while maximizing customer satisfaction. This paper proposes a bi-objective mixed-integer nonlinear programming model with time window constraints that satisfies the normal distribution of stochastic customer demand. The proposed model aims to find Pareto optimal solutions for total cost minimization and customer satisfaction maximization. An improved non-dominated sorting genetic algorithm II (IMNSGA-II) with an elite stra

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Platov, A. V., I. A. Novichkova, and N. K. Khoreeva. "DIGITALIZATION OF MANAGEMENT ACCOUNTING WITHIN THE FRAMEWORK OF THE PROCESS MANAGEMENT CONCEPT." Economics Profession Business, no. 3 (September 11, 2023): 60–66. http://dx.doi.org/10.14258/epb202338.

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Digitalization of administrative accounting leads to an increase in the efficiency of management in a complex competitive business environment. The growing volume of information and the need for its reliable and timely interpretation contribute to the formation of conditions for the use of digital technologies in order to obtain a clear understanding of business processes and market trends, as well as to make timely strategic management decisions. The purpose of this study was to determine the feasibility and ways of implementing the digital transformation of administrative accounting to impro

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Drobchak, M. O., and O. H. Yakovenko. "Inventory Management Modeling in the Budget Process of an Industrial Enterprise." Business Inform 1, no. 528 (2022): 152–58. http://dx.doi.org/10.32983/2222-4459-2022-1-152-158.

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The article is aimed at studying and substantiating the role of stocks in the budget process of an industrial enterprise, as well as elaborating a dynamic economic and mathematical model of inventory management, which would take into account the stochastic nature of demand for products and maximize profits that directly depend on the volume of output and, accordingly, on the stocks of finished products and raw materials available in stock. Since stocks affect profits, which, in turn, reflect a positive financial result of the enterprise, the application of the elaborated model will be the key

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Ali, Usman, Bashir Salah, Khawar Naeem, et al. "Improved MRO Inventory Management System in Oil and Gas Company: Increased Service Level and Reduced Average Inventory Investment." Sustainability 12, no. 19 (2020): 8027. http://dx.doi.org/10.3390/su12198027.

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This study proposes a methodology for the oil and gas businesses to keep their production plant productive with a minimum investment in carrying maintenance, repair, and operating inventory planning. The goal is to assist the exploration and production companies in minimizing the investment in keeping maintenance, repair, and operating (MRO) inventory for improving production plant uptime. The MRO inventory is the most expensive asset and it requires substantial investment. It helps in keeping the oil and gas production plant productive by performing planned and unplanned maintenance activitie

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Ntakolia, Charis, Christos Kokkotis, Patrik Karlsson, and Serafeim Moustakidis. "An Explainable Machine Learning Model for Material Backorder Prediction in Inventory Management." Sensors 21, no. 23 (2021): 7926. http://dx.doi.org/10.3390/s21237926.

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Global competition among businesses imposes a more effective and low-cost supply chain allowing firms to provide products at a desired quality, quantity, and time, with lower production costs. The latter include holding cost, ordering cost, and backorder cost. Backorder occurs when a product is temporarily unavailable or out of stock and the customer places an order for future production and shipment. Therefore, stock unavailability and prolonged delays in product delivery will lead to additional production costs and unsatisfied customers, respectively. Thus, it is of high importance to develo

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Liu, Ruichen, Yinxi Li, and Mengdan Li. "Research on Vegetables Sales Profit Based on Machine Learning." Highlights in Science, Engineering and Technology 98 (May 16, 2024): 22–30. http://dx.doi.org/10.54097/y6and619.

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The sales volume of different vegetables in supermarkets is different, and the profit is different. The research on the profit of each category of vegetables can help supermarkets predict the sales revenue more accurately to improve inventory management, purchasing plans, and sales strategy. This can help the supermarket avoid excess or insufficient inventory, improve profits, and help the supermarket identify potential sales risks. The research team obtained daily sales data for various categories of vegetables from a supermarket on the Internet for some time. First, according to the "cost pl

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Pavlenko, O., O. Kalinichenko, and O. Cherepakha. "MODEL OF SPARE PARTS INVENTORY MANAGEMENT IN THE SUPPLY SYSTEM: THE CASE OF THE ‘OLL TRAK PARTS’ COMPANY." Municipal economy of cities 4, no. 185 (2024): 287–92. http://dx.doi.org/10.33042/2522-1809-2024-4-185-287-292.

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The article identifies the relevance of the problem of optimisation of material reserves of a company and their effective management, as the state of existing reserves has a decisive impact on the competitiveness of the company, its financial condition, and the corresponding performance results. It allows the formulation of the research objective in this development. It is a given that inventory management technology is an integral part of the management system of any manufacturing and trading company. The efficiency of these companies depends on such critical criteria as the number of costs i

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Rojas, Fernando, Peter Wanke, Giuliani Coluccio, Juan Vega-Vargas, and Gonzalo F. Huerta-Canepa. "Managing slow-moving item: a zero-inflated truncated normal approach for modeling demand." PeerJ Computer Science 6 (September 14, 2020): e298. http://dx.doi.org/10.7717/peerj-cs.298.

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This paper proposes a slow-moving management method for a system using of intermittent demand per unit time and lead time demand of items in service enterprise inventory models. Our method uses zero-inflated truncated normal statistical distribution, which makes it possible to model intermittent demand per unit time using mixed statistical distribution. We conducted numerical experiments based on an algorithm used to forecast intermittent demand over fixed lead time to show that our proposed distributions improved the performance of the continuous review inventory model with shortages. We eval

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Ghasemi, Naser, and Behrouz Afshar Nadjafi. "EOQ Models with Varying Holding Cost." Journal of Industrial Mathematics 2013 (May 30, 2013): 1–7. http://dx.doi.org/10.1155/2013/743921.

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Models of inventory management contain different parameters. An issue is observable in the classical models which can be related to the determination of the quantity of the economic order and the quantity of the economic production. In these models, the parameters like setup and holding costs and also the rate of demands are fixed. This matter causes the quantity of the economic ordering in classic model to have some differences in comparison with the real-world conditions. It should be stated that holding cost of spoiled and useless products is not always fixed and so the costs increase by pa

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Taboada, Heidi, Yasser A. Davizón, José F. Espíritu, and Jaime Sánchez-Leal. "Mathematical Modeling and Optimal Control for a Class of Dynamic Supply Chain: A Systems Theory Approach." Applied Sciences 12, no. 11 (2022): 5347. http://dx.doi.org/10.3390/app12115347.

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Dynamic supply chains (SC) are important to reduce inventory, enable the flow of materials, maximize profits, and minimize costs. This research work presents a capacity–inventory management model via system dynamics for a dynamic supply SC, applying model-based optimal control techniques. In the context of high-volume manufacturing (HVM) that present low variability and predictable demand, for mathematical modeling purposes, a set of coupled first-order ordinary differential equations, with an analogy from the mixing problem, is presented, which relates capacity and inventory levels, taking in

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Tahami, Hesamoddin, Abolfazl Mirzazadeh, and Aref Gholami-Qadikolaei. "Simultaneous control on lead time elements and ordering cost for an inflationary inventory-production model with mixture of normal distributions LTD under finite capacity." RAIRO - Operations Research 53, no. 4 (2019): 1357–84. http://dx.doi.org/10.1051/ro/2019060.

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The significance of inflation and time value of money in inventory/production systems is indisputable for modern decision makers. Consequently, the paper aims to study the influence of inflationary condition on a stochastic continuous review integrated vendor–buyer inventory system in the presence of a multilevel reorder strategy for the system. It is considered that lead time components and ordering cost are controllable. Lead time is decomposed into its components: set-up time, production time and transportation time. Based on lead time components, demand during the lead time for different b

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Manuel, Espinoza Víctor, Quinchuela Pozo Flor María, Lara Vasconez Norma Ximena, and Espinoza Espinoza Armando Esteban. "Propuesta De Un Modelo De Gestión Para La Prevención De Incendios Forestales En Pinus Radiata En La Comunidad Ganquis Provincia De Chimborazo." European Scientific Journal, ESJ 13, no. 23 (2017): 222. http://dx.doi.org/10.19044/esj.2017.v13n23p222.

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The objective of this study was to elaborate a management model proposal for the prevention of forest fires in the plantation of Pinus radiata located in the community of Ganquis. The approach of the management model proposal started with a forest inventory and the subsequent identification of the threats and vulnerabilities of the plantation and community. Once the information was collected, next step consisted in determining the indexes of risks to forest fires for which an adaptation was made of the methodology proposed by Sun Mountain International for the analysis of vulnerability at the

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Selishchev, Sergii V., Oleh M. Tryukhan, and Yevhen O. Ukrainskyi. "Risk Management in Transport and Logistics Enterprises." Business Inform 2, no. 565 (2025): 337–42. https://doi.org/10.32983/2222-4459-2025-2-337-342.

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The aim of the article is to identify potential risks, build a risk management model, and develop an algorithm for managerial decisions to respond timely to the possible risks that arise in the transport and logistics sector. The relevance of classifying risk management methods is substantiated by dividing them into two categories: preventive and corrective. A model of risk management at a transport and logistics enterprise is proposed, allowing for prompt responses to the challenges of a changing environment, enhancing competition, and ensuring economic security. In turn, the formation of the

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Magnussen, Steen, Anne-Sophie Stelzer, and Gerald Kändler. "Population and Stand-Level Inference in Forest Inventory with Penalized Splines." Forest Science 66, no. 5 (2020): 537–50. http://dx.doi.org/10.1093/forsci/fxaa008.

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Abstract Penalized splines have potential to decrease estimates of variance in forest inventories with a design-based population-level inference, and a model-based domain-level inference by decreasing the likelihood of a model misspecification. We provide examples with second-order (B2) B-splines and radial basis (RB) functions as extensions to a linear working model (WM). Bias was not prominent, yet greater with B2 and in particular with RB than with WM, and decreased with sample size. Important reductions in the variance of a population mean were achieved with both B2 and RB, but at the doma

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Yeh, Chung, and Yu-tang Lee. "Construction of speed-to-market supply chain management model for garment industry." Journal of Manufacturing Technology Management 25, no. 5 (2014): 734–46. http://dx.doi.org/10.1108/jmtm-05-2012-0052.

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Purpose – The purpose of this paper is to build and provide a step-by-step methodology to develop a speed-to-market (STM) process model for a fashion garment that can quickly respond to the marketing situation and shorten the cycle time from receiving orders to deliver the finished product. The improved STM process model to contrast the “before” and “after” scenarios in order to induce potential benefits such as reducing production lead-time and keeping low inventory. Design/methodology/approach – First, collected garment business management systems and garment manufacture operational process.

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V, Khavruk. "MATHEMATICAL MODEL OF FORECASTING AND DEFINITION OF THE SIZE OF SPARE PARTS FOR AUTOMOTIVE SERVICE STATIONS WITH CONSIDERATION OF LOSS OF SALES." National Transport University Bulletin 2, no. 47 (2020): 173–82. http://dx.doi.org/10.33744/2308-6645-2020-2-47-173-182.

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The article deals with the order of formation of the mathematical model of forecasting and determination of the volume of spare parts, taking into account lost sales on the basis of actual expenses for repairs and sales through trade Object of research - system of inventory management of car maintenance stations Purpose of the study - to carry out research of mathematical model of forecasting and determination of spare parts volume taking into account lost sales and to find out the main components of it. Method of the study - the analysis and formalization: quantitative indicators of automobil

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