Y. K. Shah

Bio: Y. K. Shah is an academic researcher from Gujarat University. The author has contributed to research in topics: Economic order quantity & Order (business). The author has an hindex of 5, co-authored 11 publications receiving 214 citations.

A discrete-in-time probabilistic inventory model for deteriorating items under conditions of permissible delay in payments

Abstract: An inventory model is developed for items that deteriorate continuously in time when demand is a random variable. It is assumed that the supplier allows delayed payment for settling the replenishment account. The model is continuous in units but discrete in time. A numerical example is given to illustrate the derived results

Eoq model for time-dependent deterioration rate with a temporary price discount

Abstract: Deterioration is defined as decay, damage, spoilage, evaporation, obsolescence, pilferage, and loss of utility or loss of marginal value of a commodity that reduces usefulness from original ones. Blood, fish, fruits and vegetables, alcohol, gasoline, radioactive chemicals, medicines, etc., lose their utility with respect to time. In this case, a discount price policy is implemented by the suppliers of these products to promote sales. In this study, a mathematical model is developed for an inventory system that considers a temporary price discount when commodities in an inventory system are subject to deterioration with respect to time. Our goal in this article is to maximize the difference between two costs (gain) — taking advantage of price discount by ordering a large quantity, which in turn increases inventory holding cost as well deterioration cost and by not ordering a large quantity at a discounted price. An attempt is made to find bounds on the beneficial discount rate. The model is supported with a numerical example.

An EOQ model for exponentially decaying inventory under temporary price discount

Abstract: An inventory model for exponentialy decaying inventory when supplier announces a temporary price discount for a short time period is considered. Units purchased during the specified time period are available at a special discount price and units purchased before or after the period will be available at the current price which is higher than the special discount price. In any case it is assumed that selling price of the units remains fixed. The problem is to determine an extra large quantity to be procured during the time period in which a special discount is available. This is one time decision problem. Appropriate formulae have been obtained to determine the large quantity to be purchased, before the prise becomes original. The model is illustrated with a numerical example.

Probabilistic Time Scheduling Model for Exponentially Decaying Inventory under Temporary Price Discount

Abstract: A probabilistic model for exponentially decaying inventory when supplier announces a temporary price discount for a short time period is considered. Units purchased before or after the period under review will be available at the current price which is higher than the special discount price. In any case it is assumed that the selling price of the units remains fixed. The problem is to determine an extra large quantity to be procured during the lime period in which a special discount is available. This is one time decision problem. Appropriate formulae have been obtained to determine the large quantity to be procured before the price becomes original.

A dynamic product quality evaluation based pricing model for perishable food supply chains

Abstract: Waste stemmed from inappropriate quality control and excessive inventories is a major challenge for perishable food management in grocery retail chains. Improvement of visibility and traceability in food supply chains facilitated by tracking and tracing technologies has great potential to improve operations efficiency. This research aims to reduce food spoilage waste and maximise food retailer's profit through a pricing approach based on dynamically identified food shelf life. The proposed model is evaluated through different pricing policies to exploit the benefits from utilising accurate product shelf life information captured through innovated tracking and monitoring technologies. Numerical analysis is conducted in an illustrative case study.