An application of preservation technology in inventory control system with price dependent demand and partial backlogging
Preservation of a product is an important issue in the inventory control system. It prevents the deterioration effect of the products while these are stored in the warehouse/showroom. Considering deterioration effect of the product and preservation technology, an inventory model of non-instantaneous...
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| Published in | Alexandria engineering journal Vol. 59; no. 3; pp. 1359 - 1369 |
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| Main Authors | , , , , |
| Format | Journal Article |
| Language | English |
| Published |
Elsevier B.V
01.06.2020
Elsevier |
| Subjects | |
| Online Access | Get full text |
| ISSN | 1110-0168 2090-2670 |
| DOI | 10.1016/j.aej.2020.03.006 |
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| Abstract | Preservation of a product is an important issue in the inventory control system. It prevents the deterioration effect of the products while these are stored in the warehouse/showroom. Considering deterioration effect of the product and preservation technology, an inventory model of non-instantaneous deteriorating items is developed with the demand dependent on the selling price of the product. Two different preservation rates are considered. Shortages are allowed partially with two different backlogging rates. Due to consideration of three-parameter Weibull distributed deterioration and preservation facility, the corresponding optimization problems are highly nonlinear. So, these problems cannot be solved analytically due to nonlinearity. To overcome this situation, different variants of quantum-behaved particle swarm optimization (QPSO) are used. To illustrate and validate the proposed model, a numerical example is considered and solved for each case, and compared the results with the different variants of QPSO algorithms. Finally, a sensitivity analysis is performed to study the effect of changes of different parameters of the model on the optimal policy. |
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| AbstractList | Preservation of a product is an important issue in the inventory control system. It prevents the deterioration effect of the products while these are stored in the warehouse/showroom. Considering deterioration effect of the product and preservation technology, an inventory model of non-instantaneous deteriorating items is developed with the demand dependent on the selling price of the product. Two different preservation rates are considered. Shortages are allowed partially with two different backlogging rates. Due to consideration of three-parameter Weibull distributed deterioration and preservation facility, the corresponding optimization problems are highly nonlinear. So, these problems cannot be solved analytically due to nonlinearity. To overcome this situation, different variants of quantum-behaved particle swarm optimization (QPSO) are used. To illustrate and validate the proposed model, a numerical example is considered and solved for each case, and compared the results with the different variants of QPSO algorithms. Finally, a sensitivity analysis is performed to study the effect of changes of different parameters of the model on the optimal policy. |
| Author | Chandra Das, Subhash Zidan, A.M. Shaikh, Ali Akbar Bhunia, Asoke Kumar Manna, Amalesh Kumar |
| Author_xml | – sequence: 1 givenname: Subhash surname: Chandra Das fullname: Chandra Das, Subhash organization: Department of Mathematics, Chandrapur College, Burdwan 713145, India – sequence: 2 givenname: A.M. surname: Zidan fullname: Zidan, A.M. email: zidan.math90@azhar.edu.eg organization: King Khalid University, College of Science, Department of Mathematics, P.O. Box: 9004, Abha 61413, Saudi Arabia – sequence: 3 givenname: Amalesh Kumar surname: Manna fullname: Manna, Amalesh Kumar organization: Department of Mathematics, The University of Burdwan, Burdwan 713104, India – sequence: 4 givenname: Ali Akbar surname: Shaikh fullname: Shaikh, Ali Akbar email: aliashaikh@math.buruniv.ac.in organization: Department of Mathematics, The University of Burdwan, Burdwan 713104, India – sequence: 5 givenname: Asoke Kumar surname: Bhunia fullname: Bhunia, Asoke Kumar email: akbhunia@math.buruniv.ac.in organization: Department of Mathematics, The University of Burdwan, Burdwan 713104, India |
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| Keywords | Preservation technology QPSO algorithm Deterioration Partial backlogged shortage Inventory |
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| Title | An application of preservation technology in inventory control system with price dependent demand and partial backlogging |
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