K. V. Geetha

Bio: K. V. Geetha is an academic researcher from Gandhigram Rural Institute. The author has contributed to research in topics: Total cost & Inventory control. The author has an hindex of 3, co-authored 4 publications receiving 142 citations.

Replenishment policy for single item inventory model with money inflation

Abstract: Finding out the replenishment policy is a hot topic of research in inventory management. In this article, we propose an optimal replenishment policy by considering stock dependent consumption rate for non instantaneous deteriorating items with money inflation and time discounting. In this model shortages are allowed and backlogging is partial. Solution procedure is given and explained with examples. The impact of various parameters of the system on the optimal solution is analyzed by carrying out sensitivity analysis with perturbations in various parameters.

Evaluation of supply chain with quality improvement under trade credit and freight rate discount

Abstract: In this article, we formulate a supply chain model with single vendor and single buyer considering quality improvement. We assume that the buyer purchases under trade credit linked to the order quantity offered by the supplier. In addition, the buyer pays the freight charge according to a weight schedule. Further, demand is assumed to be sensitive to the buyer’s selling price. Also the production cost of the supplier is assumed to be a convex function of the production rate. This paper attempts to offer a best policy that provides possible solutions for both the buyer and the vendor to collaboratively agree on inventory control. An algorithm is furnished to determine the optimal solution. In addition, a numerical example is presented to illustrate the theoretical approach and results. Sensitivity analysis with respect to the major parameters of the system is carried out. From the analysis we offer some managerial insights to achieve significant decrease in total cost.

Optimal Inventory Control Policy for Items with Time-Dependent Demand

Abstract: SYNOPTIC ABSTRACTIn today's time based competition, the demand for a product may grow or decline with time. In this paper, we assume that the demand depends on time. Shortages are allowed. The unsatisfied demand is partially backlogged with a time-proportional backlogging rate. We formulate an inventory model over a finite planning horizon, to minimize the total cost for non instantaneous deteriorating items. Further the necessary and sufficient conditions for the existence and uniqueness of the optimal solutions are derived. Numerical examples are presented to demonstrate the developed model. The impact of various parameters of the system on the optimal solution is analyzed by carrying out sensitivity analysis and their effects are discussed in detail. According to the results of sensitivity analysis, we provide several ways for the retailer to effectively reduce the total annual relevant inventory cost.

The effect of preservation technology investment on a non-instantaneous deteriorating inventory model

Abstract: Considering an inventory system with a non-instantaneous deteriorating item, our objective is to study the effect of preservation technology investment on inventory decisions. The generalized productivity of invested capital, deterioration and time-depend partial backlogging rates are used to model the inventory system. The basic results of fractional programming are employed to prove the uniqueness of the global maximum for each case. We also establish several structural properties on finding the optimal replenishment and preservation technology strategies. Further, we use a couple of numerical examples to illustrate the results and conclude the paper with suggestions for possible future researches.

Optimizing inventory and marketing policy for non-instantaneous deteriorating items with generalized type deterioration and holding cost rates

Abstract: This paper considers an inventory system with non-instantaneous deteriorating item in which demand rate is a function of advertisement of an item and selling price. This paper aids the retailer in maximizing the total profit by determining optimal inventory and marketing parameters. In contrast to previous inventory models, an arbitrary holding cost rate and arbitrary deterioration rate have been incorporated to provide general framework to the model. First, a mathematical model is formulated and then some useful theoretical results have been framed to characterize the optimal solutions. The necessary and sufficient conditions for the existence and uniqueness of the optimal solutions are also derived. An algorithm is designed to find the optimum solutions of the proposed model. Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyze the behavior of the model.