Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
Economic Production Quantity (EPQ) Inventory Model for a Deteriorating Item with a Two-Level Trade Credit Policy and Allowable Shortages Read chapter Read first chapter

2020 | OriginalPaper | Chapter

18. Some Studies on EPQ Model of Substitutable Products Under Imprecise Environment

Authors : R. L. Das, R. K. Jana

Published in: Optimization and Inventory Management

Publisher: Springer Singapore

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

In current scenario, big departmental stores used to work more efficiently with the items that can be substituted either with optimum order quantities or selling prices of the products. At the time of purchase, customer of one particular item transfers to relevant substitutable item because of difference in prices or the quantities that can be purchased in bulk. In this chapter, the inventory problem is determined in total profit maximization problem with crisp, random, fuzzy, fuzzy-random, rough, and fuzzy-rough constraints. The problem is solved through a gradient-based search technique—GRG (Generalized Reduced Gradient) method. The prices and optimal order quantities of substitutable items are obtained so that total profit for store owner is maximum.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
previous chapter Allocation of Order Amongst Available Suppliers Using Multi-objective Genetic Algorithm
next chapter An Effective MILP Model for Food Grain Inventory Transportation in India—A Heuristic Approach
Literature
1.
Bansal KK, Ahalawat N (2012) Integrated inventory models for decaying items with exponential demand under inflation. Int J Soft Comput Eng 2:578–587
2.
Cárdenas-Barrón LE, Chung KJ, Treviño-Garza G (2014) Celebrating a century of the economic order quantity model in honor of Ford Whitman Harris. Int J Prod Econ 155:1–7CrossRef
3.
Cárdenas-Barrón LE, Treviño-Garza G, Taleizadeh AA, Treviño-Garza G, Pandian V (2015) Determining replenishment lot size and shipment policy for an EPQ inventory model with delivery and rework. Math Probl Eng 2015:1–8CrossRef
4.
Chang HC (2004) A note on the EPQ model with shortages and variable lead time. Inf Manag Sci 15(1):61–67
5.
Charnes A, Cooper WW (1963) Deterministic equivalents for optimizing and satisficing under chance constraints. Oper Res 11:18–39CrossRef
6.
Chung KH, Kim YH (1989) Economic analysis of inventory systems: a rejoinder. Eng Econ 35:75–80CrossRef
7.
8.
Garg G, Vaish B, Gupta S (2012) An economic production lot size model with price discounting for non-instantaneous deteriorating items with ramp-type production and demand rates. Int J Contemp Math Sci 7(11):531–554
9.
Goyal SK (1995) A viewpoint on an EOQ model with substitutions between products. J Oper Res Soc 46:476–477CrossRef
10.
Guria A, Das B, Mandal S, Maiti M (2013) Inventory policy for an item with inflation induced purchasing price, selling price and demand with immediate part payment. Appl Math Model 37:240–257CrossRef
11.
Gurunani C (1983) Economic analysis of inventory systems. Int J Prod Res 21:261–277CrossRef
12.
Gurunani H, Drezner Z (2000) Deterministic hierarchical substitution inventory models. J Oper Res Soc 51:129–133CrossRef
13.
Katagiri H, Sakawa M, Kato K, Nishizaki I (2008) Interactive multi-objective fuzzy random linear programming: maximization of possibility and probability. Eur J Oper Res 188(2):530–539CrossRef
14.
Khedlekar UK (2012) A disruption production model with exponential demand. Int J Ind Eng Comput 3:607–616
15.
Lasdon LS, Waren AD, Jain A, Ratner M (1978) Design and testing of a generalised reduced gradient code for non-linear programming. ACM Tran Math Softw 4(1):34–50CrossRef
16.
Liu B (2002) Theory and practice of uncertain programming. Physica-Verlag, HeidelbergCrossRef
17.
Liu B, Iwamura KB (1998) Chance constraint programming with fuzzy parameters. Fuzzy Sets Syst 94:227–237CrossRef
18.
Maiti MK, Maiti M (2006) Fuzzy inventory model with two warehouses under possibility constraints. Fuzzy Sets Syst 157:52–73CrossRef
19.
Merigó JM, Gil-Lafuente AM, Yager RR (2015) An overview of fuzzy research with bibliometric indicators. Appl Soft Comput 27:420–433CrossRef
20.
Merigó JM, Palacios-Marqués D, Benavides M (2015) Aggregation methods to calculate the average price. J Bus Res 68:1574–1580CrossRef
21.
Mishra SS, Singh PK (2011) A computational approach to EOQ model with power form stock dependent demand and cubic deterioration. Am J Oper Res 1:5–13
22.
Moon J, Yun W (1993) An economic order quantity model with a random planning horizon. Eng Econ 39:77–86CrossRef
23.
Nobil AH, Sedigh AHA, Cárdenas-Barrón LE (2016) A multi-machine multi-product EPQ problem for an imperfect manufacturing system considering utilization and allocation decisions. Exp Syst Appl 56:310–319CrossRef
24.
Noori-daryan AAM, Cárdenas-Barrón LE (2015) Joint optimization of price, replenishment frequency, replenishment cycle and production rate in vendor managed inventory system with deteriorating items. Int J Prod Econ 159:285–295CrossRef
25.
Panda D, Kar S, Maity K, Maiti M (2008) A single period inventory model with imperfect production and stochastic demand under chance and imprecise constraints. Eur J Oper Res 188:121–139CrossRef
26.
Rao SS (2009) Engineering optimization: theory and practice, 4th edn. Wiley, HobokenCrossRef
27.
Roy A, Maiti MK, Kar S, Maiti M (2009) An inventory model for a deteriorating item with displayed stock dependent demand under fuzzy inflation and time discounting over a random planning horizon. Appl Math Model 33:744–759CrossRef
28.
Seyed TA, Seyed HP, Gharaei A (2015) Optimization of a multiproduct economic production quantity problem with stochastic constraints using sequential quadratic programming. Knowl Based Syst 84:98–107CrossRef
29.
Shamsi R, Haji A, Shadrokh S, Nourbakhsh F (2009) Economic production quantity in reworkable production systems with inspection errors, scraps and backlogging. J Ind Syst Eng 3:170–188
30.
Singh C, Singh SR (2012) An EPQ model with power form stock dependent demand under inflationary environment using genetic algorithm. Int J Comput Appl 48(15):25–30
31.
Taleizadeh AA, Kalantari SS, Cárdenas-Barrón LE (2015) Determining optimal price, replenishment lot size and number of shipments for an EPQ model with rework and multiple shipments. J Ind Manag Optim 11(4):1059–1071CrossRef
32.
Taleizadeh AA, Kalantari SS, Cárdenas-Barrón LE (2016) Pricing and lot sizing for an EPQ inventory model with rework and multiple shipments. TOP 24:143–155CrossRef
33.
Teng JT, Ouyang LY, Chang CT (2005) Deterministic economic production quantity model with time-varying demand and cost. Appl Math Model 29:987–1003CrossRef
34.
Teng JT, Ouyang LY, Cheng MC (2005) An EOQ model for deteriorating items with power form stock-dependent demand. Inf Manag Sci 16(1):1–16
35.
Wee HM, Wang WT, Yang PC (2013) A production quantity model for imperfect quality items with shortage and screening constraint. Int J Prod Res 51(6):1869–1884CrossRef
36.
Widyadana GA, Wee HM (2009) Economic Production Quantity (EPQ) deteriorating inventory model with machine breakdown and stochastic repair time. In: Proceedings of the IEEE international conference on industrial engineering and engineering management, Hong Kong, pp 548–552
37.
Xu J, Zhou X (2011) Fuzzy link multiple-objective decision making. Springer, BerlinCrossRef
38.
Zadeh LA (1978) Fuzzy sets as a basis for a theory of possibility. Fuzzy Sets Syst 1:3–28CrossRef
39.
Zanoni S, Marchi B, Pasetti M, Zavanella L (2018) A supply chain model with integrated thermal recovery and electricity generation from industrial waste heat. In: 2018 industrial efficiency conference, pp 11–13
Metadata
Title
Some Studies on EPQ Model of Substitutable Products Under Imprecise Environment
Authors
R. L. Das
R. K. Jana
Copyright Year
2020
Publisher
Springer Singapore
Book
Optimization and Inventory Management

Print ISBN: 978-981-13-9697-7

Electronic ISBN: 978-981-13-9698-4

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-981-13-9698-4_18