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Economic Order Quantity Model with Weibull Distributed Deterioration under a Mixed Cash and Prepayment Scheme
Computational Intelligence and Neuroscience Pub Date : 2021-09-06 , DOI: 10.1155/2021/9588685
Huda M Alshanbari 1 , Abd Al-Aziz H El-Bagoury 2 , Md Al-Amin Khan 3 , Soumen Mondal 4 , Ali Akbar Shaikh 4 , Abdur Rashid 3
Affiliation  

Two distinct inventory models are investigated for a deteriorating item under the frequency of advertisement and market price-sensitive aggregate demand where the deterioration percentage complies with Weibull distribution. In one model, the stock-out environment is not studied, while another one handles the stock-out situation by moderately backordering based upon the waiting time duration for the products. Advance payment, another realistic feature, is implemented by paying off a fraction of the acquisition cost amid single or many equal segments from the order placing moment to receiving moment whereas the remaining fraction is accomplished at the order delivery instant by the practitioner to the supplier. The utmost aim is computing the inventory policy along with the market price and marketing strategy to reach the highest total profit for both models. The models formulated here extend several inventory studies previously developed in the literature and suggest several important outcomes. This makes two exceedingly nonlinear and mixed-integer optimization problems, which are elucidated by constructing two efficacious algorithms. Two numerical illustrations are accomplished to perceive the working competence of the algorithms and the consequences of the parameters on the practitioner’s optimal policy are highlighted in a tabular form executing a sensitivity examination. Based on the performed analyses, finally, some decision-making salient findings are obtained.

中文翻译:

混合现金和预付款方案下具有威布尔分布恶化的经济订货量模型

在广告频率和市场价格敏感的总需求条件下,针对劣化项目研究了两种不同的库存模型,其中劣化百分比符合威布尔分布。在一个模型中,没有研究缺货环境,而另一个模型根据产品的等待时间通过适度缺货来处理缺货情况。预付款是另一个现实特征,它是通过在从下订单时刻到接收时刻的单个或多个相等部分中支付采购成本的一小部分来实现的,而剩余部分是在从业者向供应商交付订单的时刻完成的。最大的目标是计算库存政策以及市场价格和营销策略,以达到两种模型的最高总利润。此处制定的模型扩展了先前在文献中开发的多项清单研究,并提出了几个重要结果。这产生了两个极其非线性和混合整数的优化问题,通过构建两个有效的算法来阐明这些优化问题。完成了两个数值插图来感知算法的工作能力,并且参数对从业者最优策略的影响以表格形式突出显示,执行敏感性检查。基于所进行的分析,最后,获得了一些决策的显着发现。此处制定的模型扩展了先前在文献中开发的多项清单研究,并提出了几个重要结果。这产生了两个极其非线性和混合整数的优化问题,通过构建两个有效的算法来阐明这些优化问题。完成了两个数值插图来感知算法的工作能力,并且参数对从业者最优策略的影响以表格形式突出显示,执行敏感性检查。基于所进行的分析,最后,获得了一些决策的显着发现。此处制定的模型扩展了先前在文献中开发的多项清单研究,并提出了几个重要结果。这产生了两个极其非线性和混合整数的优化问题,通过构建两个有效的算法来阐明这些优化问题。完成了两个数值插图来感知算法的工作能力,并且参数对从业者最优策略的影响以表格形式突出显示,执行敏感性检查。基于所进行的分析,最后,获得了一些决策的显着发现。完成了两个数值插图来感知算法的工作能力,并且参数对从业者最优策略的影响以表格形式突出显示,执行敏感性检查。基于所进行的分析,最后,获得了一些决策的显着发现。完成了两个数值插图来感知算法的工作能力,并且参数对从业者最优策略的影响以表格形式突出显示,执行敏感性检查。基于所进行的分析,最后,获得了一些决策的显着发现。
更新日期:2021-09-06
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