Geodesic
Imperfect Inventory Model for Trended Demand Under Radio Frequency Identification and Trade Credit
Yugoslav journal of operations research, Tome 30 (2020) no. 4, p. 499 .

Voir la notice de l'article provenant de la source eLibrary of Mathematical Institute of the Serbian Academy of Sciences and Arts

In this paper, models on concepts of radio frequency identification adoption (RFID), imperfect products reworking system, and trade credit for deteriorating inventory with / without utilizing the preservation investment technology are derived, which makes this article, a unique one. Estimation of optimal values of RIFD levels of investment for ordering, operating, just in time efficiencies along with production cycle time, and preservation investment are carried out. The rate of market demand is quadratic in nature based on time and is suitable for the items for which demand rises primarily, and then after it begins to decline. This form of demand is applicable to a vast range of items like garments, fashion accessories, electronics, etc.. The model is further divided into two cases based on demand rate and products reworking of imperfect quality items. Further, in each case, four subcases based on credit period and time of production cycle are analysed. The main objective of the inventory problem is to calculate total manufacturing cost in each subcase. The classical optimization technique is utilized for calculating the optimal values of decision variables. For the validation of developed models in each case, numerical examples are demonstrated, then using the concept of eigen-values of a Hessian matrix, we have proved the convex nature of the systems total cost for the case which has the minimum total cost. Also the decision variable sensitivity analysis is done by altering the inventory parameters for generating fruitful managerial insights. The model derived in this article can be applied in supply chain management of packaged food products/seasonal food products/milk products like butter, cheese, etc., where the tags for RFID are applied to track eatable/milk items of during delivery and storing. Also, if the model deals with a product of improper production, then it undergoes the reworking process.
Classification : 90B85, 90C26
Keywords: Deterioration, Trade Credit, Radio Frequency Identification Adoption, Preservation Investment, Time Dependent Demand Rate, Reworking System for Imperfect Production 
@article{YJOR_2020_30_4_a6,
     author = {Nita H. Shah and Monika K. Naik},
     title = {Imperfect {Inventory} {Model} for {Trended} {Demand} {Under} {Radio} {Frequency} {Identification} and {Trade} {Credit}},
     journal = {Yugoslav journal of operations research},
     pages = {499 },
     publisher = {mathdoc},
     volume = {30},
     number = {4},
     year = {2020},
     language = {en},
     url = {http://geodesic.mathdoc.fr/item/YJOR_2020_30_4_a6/}
}
TY  - JOUR
AU  - Nita H. Shah
AU  - Monika K. Naik
TI  - Imperfect Inventory Model for Trended Demand Under Radio Frequency Identification and Trade Credit
JO  - Yugoslav journal of operations research
PY  - 2020
SP  - 499 
VL  - 30
IS  - 4
PB  - mathdoc
UR  - http://geodesic.mathdoc.fr/item/YJOR_2020_30_4_a6/
LA  - en
ID  - YJOR_2020_30_4_a6
ER  - 
%0 Journal Article
%A Nita H. Shah
%A Monika K. Naik
%T Imperfect Inventory Model for Trended Demand Under Radio Frequency Identification and Trade Credit
%J Yugoslav journal of operations research
%D 2020
%P 499 
%V 30
%N 4
%I mathdoc
%U http://geodesic.mathdoc.fr/item/YJOR_2020_30_4_a6/
%G en
%F YJOR_2020_30_4_a6
Nita H. Shah; Monika K. Naik. Imperfect Inventory Model for Trended Demand Under Radio Frequency Identification and Trade Credit. Yugoslav journal of operations research, Tome 30 (2020) no. 4, p. 499 . http://geodesic.mathdoc.fr/item/YJOR_2020_30_4_a6/