Friday, 15:15 - 15:40 h, Room: MA 042

 

Abolfazl Mirzazadeh
A bi-criteria inventory model under stochastic environment with considering perishable costs

Coauthor: I. Sadeghi

 

Abstract:
A new multiple objectives inventory model has been presented in this paper to determine the optimal production quantity. The deterioration items have been considered and the systems costs will be change over the time horizon. In the real situation, some but not all customers will wait for backlogged items during a shortage period and therefore, the model incorporates partial backlogging. The demand rate can be a function of inflation and time value of money where the inflation and time horizon i.e., period of business, both are random in nature. The objectives of the problem are: (1) Minimization of the total expected present value of costs over time horizon (consists of the deterioration cost, production cost, inventory holding cost, backordering cost, lost sale cost and ordering cost) and (2) Decreasing the total quantity of goods in the warehouse over time horizon. The ideal point approach has been proposed to formulate the model. Also, the numerical example has been provided for evaluation and validation of the theoretical results.

 

Talk 1 of the contributed session Fri.3.MA 042
"Applications of supply chain" [...]
Cluster 13
"Logistics, traffic, and transportation" [...]

 

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