Modelling of Some Problems on Production Planning and Inventory Management

Abstract

Many inventory systems face a challenge due to product deterioration which is a newlinerealistic phenomenon. Therefore, it is not economical to ignore the loss due to newlinedeterioration and precisely non-instantaneous deterioration offers a special attention. newlineIn fact, literature focusing on modelling of non-instantaneous deteriorating products is newlineconstantly being emerged as a separate research stream in a decade time. Since then, newlinemany attempts have been made in developing optimized replenishment policy for noninstantaneous newlinedeteriorating products by altering various parameters such as pricing, newlinepreservation technology, non-zero ending inventory, trade-credit mechanism, waiting newlinecoefficient, salvage value so on and so forth. newlineFurther, the literature also points that most of the models assumed buyer-centric newlinedecision making for procurement which may be uneconomical for the vendor. To newlinemaximize interest of each supply chain partner, vendor centric policy seems to be more newlineappropriate considering costs saving in totality. Therefore, various SC coordination newlinemechanisms have been constantly under investigation by practitioners in recent past newlinevendor managed inventory has been regarded as separate research stream in inventory newlinecontrol and production planning. In this thesis, the cost is compared using VMI system newlineand inventory system without VMI (traditional model). newlineThe present research work is a humble contribution to the emerging field of modelling newlineof vendor managed inventory and integrated inventory systems for non-instantaneous newlinedeteriorating items. newline