MULTI-ENTITY STOCK DEPENDENT MODEL WITH CAPACITY AND MANUFACTURE COST RESTRAINT’S

Main Article Content

Atma Nand
https://orcid.org/0000-0003-4918-3891
N. S. Chauhan

Abstract

Inventory has an impact on the manufacturing process as well as supply chain operations. The fundamental goal of this research paper is to optimize the cost associated with inventories and to provide flow less continuous production process in time. Normally, demand rate of any entity in inventory control model are treated as predictable and at the same time constant too, and that the cost associated to unit inventory must be independent and non-variable in nature. Nevertheless, in practical circumstances, the unit price and demand rate of an entity may be interconnected. When the asking for an article is enormous, an entity is manufactured in huge quantities and the static charges of manufacturing being diffused over a multiple component. Henceforth, per unit article cost decreases significantly. i.e., per unit article cot and the demand of an article are related under inverse variation. So, better to consider the demand rate of an article as a variable constraint than to fixed one. In this research article, a mathematical model for multiple articles through permitted and restricted shortage and per article cost based on demand accompanied by upper and lower limits viz restricted storage space and manufacturing expenses has been constructed. Overall, investigating the simultaneous effect of storage space and manufacturing expenses in an inventory model provides valuable insights that enable cost optimization, resource allocation, capacity planning, and risk mitigation. It helps companies make informed decisions and improve their overall operational efficiency and profitability. The Multi-Entity Stock Dependent Model with Capacity and Manufacture Cost Restraints can be customized and used in a variety of sectors that include managing inventory across numerous entities and complicated supply chain networks. Here are a few examples of industries that can benefit from such a model: manufacturing industry, the retail and distributor sector, e-commerce companies, pharmaceutical and healthcare industry, automotive industry and food and beverage industry. The article cost is explored at this juncture in a fuzzy atmosphere and solutions of the model being obtained through KKT condition. Finally, a conclusion is offered in the final portion.

Downloads

Download data is not yet available.

Article Details

How to Cite
Nand, A., & N. S. Chauhan. (2024). MULTI-ENTITY STOCK DEPENDENT MODEL WITH CAPACITY AND MANUFACTURE COST RESTRAINT’S . Malaysian Journal of Science, 43(3), 37–48. https://doi.org/10.22452/mjs.vol43no3.5
Section
Original Articles

References

Bardhan, S., Pal, H., &Giri, B. C. (2019). Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand. Operational Research, 19(2), 347-368.

Barman, A., Das, R., & De, P. K. (2021). Optimal pricing, replenishment scheduling, and preservation technology investment policy for multi-item deteriorating inventory model under shortages. International Journal of Modeling, Simulation, and Scientific Computing, 12(05), 2150039.

Erlenkotter, D. (1990). Ford Whitman Harris and the economic order quantity model. Operations Research, 38(6), 937-946.

Hadley, G. W., & Whitten, T. (1963). TM, 1963. Analysis of Inventory systems. Englewood Cliffs, NJ, 1963.

Mashud, A. H. M., Wee, H. M., & Huang, C. V. (2021). Preservation technology investment, trade credit and partial backordering model for a non-instantaneous deteriorating inventory. RAIRO-Operations Research, 55, S51-S77.

Md. Alamin Khan, A. H. M. M., M. A. Halim. (2017). Numerous Exact Solutions Of Nonlinear Partial Differential Equations By Tan–Cot Method. Journal of Mechanics of Continua Mathematical sciences, 11(2), 37-48.

Md Mashud, A. H., Pervin, M., Mishra, U., Daryanto, Y., Tseng, M.-L., & Lim, M. K. (2021). A sustainable inventory model with controllable carbon emissions in green-warehouse farms. Journal of Cleaner Production, 298, 126777. doi:https://doi.org/10.1016/j.jclepro.2021.126777

Miah, M. S., Islam, M. M., Hasan, M., Mashud, A. H. M., Roy, D., & Sana, S. S. (2021). A Discount Technique-Based Inventory Management on Electronics Products Supply Chain. Journal of Risk and Financial Management, 14(9), 398.

Mishra, V. K. (2014). Controllable deterioration rate for time-dependent demand and time-varying holding cost. Yugoslav Journal of Operations Research, 24(1), 87-98.

Mishra, U., Mashud, A. H. M., Tseng, M.-L., & Wu, J.-Z. (2021). Optimizing a Sustainable Supply Chain Inventory Model for Controllable Deterioration and Emission Rates in a Greenhouse Farm. Mathematics, 9(5), 495.

Nath, B. K., & Sen, N. (2021). A partially backlogged two-warehouse EOQ model with non-instantaneous deteriorating items, price and time dependent demand and preservation technology using interval number. International Journal of Mathematics in Operational Research, 20(2), 149-181.

Pal, H., Bardhan, S., &Giri, B. C. (2018). Optimal replenishment policy for non-instantaneously perishable items with preservation technology and random deterioration start time. International Journal of Management Science and Engineering Management, 13(3), 188-199.

Rahman, M. M., Ahmed, R., Mashud, A. H. M., Malik, A. I., Miah, S., & Abedin, M. Z. (2022). Consumption-Based CO2 Emissions on Sustainable Development Goals of SAARC Region. Sustainibility, 14(3), 1467.

Rahman, M. M., Anan, N., Mashud, A. H. M., Hasan, M., & Tseng, M.-L. (2022). Consumption-based CO2 emissions accounting and scenario simulation in Asia and the Pacific region. Environmental Science and Pollution Research, 29(23), 34607-34623. doi:10.1007/s11356-021-18265-w

Roy, D., Hasan, S. M. M., Rashid, M. M., Hezam, I. M., Al-Amin, M., Chandra Roy, T., . . . Mashud, A. H. M. (2022). A Sustainable Advance Payment Scheme for Deteriorating Items with Preservation Technology. Processes, 10(3), 546.

Roy, D., &Mashud, A. H. M. (2022). Optimizing profit in a controlled environment: Assessing the synergy between preservation technology and cap-and-trade policy. Journal of King Saud University - Science, 34(3), 101899. doi:https://doi.org/10.1016/j.jksus.2022.101899

Shaikh, A. A., Mashud, A. H. M., Uddin, M. S., & Khan, M. A.-A. (2017). Non-instantaneous deterioration inventory model with price and stock dependent demand for fully backlogged shortages under inflation. International Journal of Business Forecasting and Marketing Intelligence, 3(2), 152-164.

Shaikh, A. A., Panda, G. C., Khan, M. A.-A., Mashud, A. H. M., & Biswas, A. (2020). An inventory model for deteriorating items with preservation facility of ramp type demand and trade credit. Int. J. Math. Oper. Res., 17(4), 514-551.

Silver, E. A., & Peterson, R. (1985). Decision systems for inventory management and production planning (Vol. 18). Wiley.

Sultana, S., Mashud, A. H. M., Daryanto, Y., Miah, S., Alrasheedi, A., &Hezam, I. M. (2022). The Role of the Discount Policy of Prepayment on Environmentally Friendly Inventory Management. Fractal and Fractional, 6(1), 26.

Yang, H. L., & Chang, C. T. (2013). A two-warehouse partial backlogging inventory model for deteriorating items with permissible delay in payment under inflation. Applied Mathematical Modelling, 37(5), 2717-2726.

Zia, N. P., &Taleizadeh, A. A. (2015). A lot-sizing model with backordering under hybrid linked-to-order multiple advance payments and delayed payment. Transportation Research Part E: Logistics and Transportation Review, 82, 19-37.