Optimal coordinated supply chain strategy with price and time sensitive demand

EPQ Model for Time-Declining Demand with Imperfect Production Process under Inflationary Conditions and Reliability

Abstract: An inventory model with imperfect production process is developed for time-declining demand pattern. Imperfect production process results into a mix of good quality and defective items. Some of the defective items can be corrected to an extent with additional reworking cost. Reliability of the production process is considered as the decision variable. Optimum value of the reliability parameter helps in long-term strategic decisions regarding investments in production technology; process know-how and product design complexity. Model is developed with an objective to maximize total profit using Euler-Lagrange theory in a single item setting. Effects of inflation and time value of money on total profit are also considered. Results obtained are validated by numerical example. Sensitivity analysis of various parameters is carried out to derive managerial insights.

Optimal selection of machining datum and machining tolerance allocation through tolerance charting

Abstract: The main purpose of tolerance charting is to determine the optimal allocation of working dimensions and working tolerances such that the blueprint dimensions and tolerances can be achieved to accomplish the cost objectives. The selection of machining datum and allocation of tolerances are critical in any machining process planning as they directly affect any setup methods/machine tools selection and machining time. In order to reduce the machining time and cost, an optimum process plan should be designed. Due to the existence of intermediate machining operation, a large number of intermediate part features may be used as the datum for the machining of others. This paper mainly focuses on the selection of optimum machining datums and machining tolerances simultaneously in process planning. In this work, an optimisation model is formulated for selecting machining datum and tolerances and implemented with an evolutionary algorithm namely differential evolution (DE).

Organised agri-food (apple) supply chain in Indian scenario: reality or myth?

Abstract: Numerous issues are being raised towards survival of unorganised retailing or whole sale markets vis-a-vis organised agri-food retail in India. The purpose of present study is to provide an over view of how existing apple supply chains is working in India and various businesses associated with it. The study is of exploratory in nature and explores unorganised and big retail chains dependency on each other for apple supply chain. The paper also describes production and price curves from farm to end customer for India descriptive research. The primary information was collected through personal interview and by observation method and secondary data is collected from APMC and other published sources. The paper brings forth factors for maximising return on investment to excel in unorganised business and impact of agri-food retail chains on unorganised retailing in India. The paper also discusses innovations in unorganised retail sector and concludes with hurdles and challenges for establishment of organised retailing in India. Supply chain partners will be able to understand the business better as well as will be able to further increase their business and profits.

Optimal credit policy to increase supplier's profit with price dependent demand function = 가격과 수요의 관계를 고려한 최적 신용판매정책

Abstract: Abstract This paper deals with the problem of determining an optimal length of credit period from the perspective of supplier. We assume that a retailer jointly determines the unit retail price and order size to maximize profit when he/she purchases a product for which the supplier offers a trade credit. Two widely used demand functions are adopted for the study in which demands are decreasing functions of the retail price. A procedure is presented which shows how to achieve an optimal length of credit period for suppliers. The effects of credit period on the behaviour of retailers are also investigated using an example.

Study on Stackelberg game of supply chain coordination with uncertain delivery

Abstract: Coordinating producer and supplier is one of main issues of supply chain with uncertain delivery. Considering interaction between the members in supply chain, there is a Stackelberg game in supply chain. The nature of the Stackelberg game is discussed in this paper. The solution of the game is deduced. As the leader, the producer in supply chain initializes the optimal order quantity and penalty cost policy for minimizing his cost, while as the follower, the supplier responds with the optimal extra capacity policy for maximizing his profit. Appling genetic algorithm, a simulation about tail rolled steel products is done based on Shanghai BaoSteel industry trade co.. The solution is adopted for implementing JIT in the supply system of Shanghai BaoSteel industry trade co.. The simulation solution shows that Stackelberg game is effective and practical.

Adaptation in natural and artificial systems

Abstract: Name of founding work in the area. Adaptation is key to survival and evolution. Evolution implicitly optimizes organisims. AI wants to mimic biological optimization { Survival of the ttest { Exploration and exploitation { Niche nding { Robust across changing environments (Mammals v. Dinos) { Self-regulation,-repair and-reproduction 2 Artiicial Inteligence Some deenitions { "Making computers do what they do in the movies" { "Making computers do what humans (currently) do best" { "Giving computers common sense; letting them make simple deci-sions" (do as I want, not what I say) { "Anything too new to be pidgeonholed" Adaptation and modiication is root of intelligence Some (Non-GA) branches of AI: { Expert Systems (Rule based deduction)

Optimal Policies for a Multi-Echelon Inventory Problem

Abstract: In the last several years there have been a number of papers discussing optimal policies for the inventory problem. Almost without exception these papers are devoted to the determination of optimal purchasing quantities at a single installation faced with some pattern of demand. It has been customary to make the assumption that when the installation in question requests a shipment of stock, this shipment will be delivered in a fixed or perhaps random length of time, but at any rate with a time lag which is independent of the size of the order placed. There are, however, a number of situations met in practice in which this assumption is not a tenable one. An important example arises when there are several installations, say 1, 2,..., N, with installation 1 receiving stock from 2, with 2 receiving stock from 3, etc. In this example, if an order is placed by installation 1 for stock from installation 2, the length of time for delivery of this stock is determined not only by the natural lead time between these two sites, but also by the availability of stock at the second installation. In this paper we shall consider the problem of determining optimal purchasing quantities in a multi-installation model of this type.

A joint economic-lot-size model for purchaser and vendor

Abstract: In a typical purchasing situation, the issues of price, lot sizing, etc, usually are settled through negotiations between the purchaser and the vendor Depending on the existing balance of power, the end result of such a bargaining process may be a near-optimal or optimal ordering policy for one of the parties (placing the other in a position of significant disadvantage) or, sometimes, inoptimal policies for both parties This paper develops a joint economic-lot-size model for a special case where a vendor produces to order for a purchaser on a lot-for-lot basis under deterministic conditions The focus of this model is the joint total relevant cost It is shown that a jointly optimal ordering policy, together with an appropriate price adjustment, can be beneficial economically for both parties or, at the least, does not place either at a disadvantage

An integrated inventory model for a single supplier-single customer problem

Abstract: SUMMARY The method given in this paper is typically applicable to those inventory problems where a product is procured by a single customer from a single supplier. An example has been solved to illustrate the method.

Inventory Control and Price Theory

Abstract: In spite of the high level of interest in inventory control that has sprung up recently among statisticians, economists, and businessmen, very little has been written that indicates the fundamental connection between price theory and inventory control. Most of the inventory control systems now in operation assume a given price structure. The analysis is frequently restricted to cost minimization. Economic theorists, on the other hand,~have concerned themselves with profit maximization but have not ordinarily concerned themselves with the realistic details underlying the construction of their curves. Only in the event that other variables external to the cost minimization problem are assigned optimal values will the cost minimization problem be equivalent to profit maximization.