A Reliable Inventory Model for Deteriorating Items with Multivariate Demand under Time-Dependent Deterioration Sanjay Sharma, Anand Tyagi, Sachin Kumar, Richa Pandey Industrial Reliability and Safety Engineering Applications and Practices, 2023 For business proposes, it is very important to have an up-to-date system that can analyse customer’s demand as well as their trend. For analysing above, we have to develop a proper inventory control model, a better approach for the smooth running of business to satisfy the demand of the customers. Various reliable models are already developed to maximise the total inventory costs, but it is found from the previous study that people think that a successful business can only be established by working on to improve the profit, but it is also very important to maximise the profit such that we have to work on the shortages as it is another key to improve the profit. Here, we have made an attempt to investigate the inventory model to minimise the shortage and maximise the total inventory cost. In most of the inventory models, the demand pattern for the entire inventory cycle is assumed to be uniform, but when we are talking about some low life product, the uniform pattern of demand is not appropriate. Also, the uniform rate of demand can increase the shortages at any time. In the present study, an inventory control model in which we have taken different demand rates for the different stages of the model and developed an inventory model for deteriorating items. The model is developed under time-dependent deterioration, and shortages are not allowed. A numerical example is also given to illustrate the model and its significant features.
Additive manufacturing process based EOQ model under the effect of pandemic COVID-19 on non-instantaneous deteriorating items with price dependent demand Sanjay Sharma, Anand Tyagi, Sachin Kumar, Priyanka Kaushik Additive Manufacturing in Industry 4 0 Methods Techniques Modeling and Nano Aspects, 2022 The additive process of manufacturing plays an important role in the development of the mathematical models. As the scenario is totally changed because of the worldwide effect of the COVID-19, we have to use an updated parameters-based model to face the current status of COVID-19. As an effect of the pandemic on market policy, proper management was not possible due to lockdowns in various cities. This mean the entire supply chain and proper distribution were affected. As a result, for making supply chain of the products more effective, companies have analyzed their inventory levels week-wise instead of monthly so that they can take their decisions in advance to avoid gaps between the placing of orders and receiving the goods. This effort of making policy in advance can also help us to avoid the deterioration of products. Thus in the present study, we investigate the facts and future effect of this pandemic on various inventory control items and develop a model. In the present study, an optimal ordering quantity inventory model of diminishing items is developed. Also, this study is based on such non-instantaneous deteriorating items that are still scarce due to COVID-19 and that are still in demand as these items are depending upon the price of the items. In the present model, we have considered shortage and assume it to be partially backlogged. In the proposed model, a real situation-based numerical example has been taken for the validation of the model, which is based on an additive manufacturing process where sensitivity analysis is also performed for batter understanding the real-time situation of the parameters used. In the end, the model also examines graphically and the effects of all parameters also examine with respect to the total profit.
An Inventory Control Model for Deteriorating Items Under Demand Dependent Production with Time and Stock Dependent Demand Sanjay Sharma, Anand Tyagi, B. B. Verma, Sachin Kumar International Journal of Operations and Quantitative Management, 2021 In inventory control models where most of the studies are focused on demand, it is obvious that the profit can only be improved by handling the demand of the items according to the fluctuations and pattern of the market ups and downs. In most of the models, demand is taken as time-dependent, price-dependent, and stock-dependent for one complete cycle of the model, which is not realistic in the case of low- life products with a high rate of deterioration like milk products, vegetables. It is also not possible to fix the demand for such items for the entire cycle of the model. In the current study, we have assumed different demands at the different stage of the model which can help to improve the profit as well as to control the deterioration. We have assumed time-dependent demand from the initial to the end of the stock level, after that we have assumed demand as price dependent which is the key of the current study and a better approach for handling low-life items. For low-life items, production is also a very important key parameter as it can directly affect the profit. Therefore, in the current study, we have assumed production of items as demand dependent and deterioration is taken time-dependent, a shortage is allowed under partial backlogging. The model is validated by taking numerical data along with a real example based on the model.
A production inventory model for deteriorating items with effect of price discount under the stock dependent demand Sanjay Sharma, Vipin Kumar, Anand Tyagi Reliability Theory and Applications, 2021 In most of the production-based model, the effect of deterioration at initial stage of the production is not assumed even if assumed than considered to be constant, in few productions-based model deteriorations is assumed time-dependent but during initial level of production its effect was not considered. For a product whose life is high this phenomenon is justifying but for those products whose life is very less this is not faring to not assume the effect of deterioration. In the present study, author have considered the effect of deterioration at the initial level of the model and for the rest cycle of the model as well. After a fixed time, a price discount is also offered for partially deteriorated items where a discount rate is offer at the original one, Shortages are not allowed, production is assumed as demand dependent, and demand is assumed as stock dependent where holding cost of the inventory is assumed as a function of time. A numerical example is also discussed.
Effect of inflation on two storage inventory model with time dependent deteriorating items and stock dependent demand Preeti Sharma, Sanjay Sharma, B. B. Singh, Anand Tyagi International Journal of Mathematical Engineering and Management Sciences, 2020 For deteriorating product, there always be a pressure on the company to maximize the profit. In the present model, an effort is made to develop a production inventory control model having two separate warehouses. In most of the study, the demand is assumed as time dependent which is not appropriate; but here authors have considered stock based demand. An approach is taken into consideration that deterioration rate different for different warehouses.
An inventory model for decaying items, considering multi variate consumption rate with partial backlogging Indian Journal of Science and Technology, 2013
A fresh approach to cyclic manufacturing S Sharma, S K Goyal Proceedings of the Institution of Mechanical Engineers Part B Journal of Engineering Manufacture, 2006
