Table of Contents Author Guidelines Submit a Manuscript
Mathematical Problems in Engineering
Volume 2015, Article ID 508074, 11 pages
http://dx.doi.org/10.1155/2015/508074
Research Article

An Optimization Model for Inventory System and the Algorithm for the Optimal Inventory Costs Based on Supply-Demand Balance

1College of Information Engineering, Tarim University, Alar, Xinjiang 843300, China
2College of Computer Science and Technology, Zhejiang University, Hangzhou, Zhejiang 310027, China

Received 13 June 2015; Revised 18 November 2015; Accepted 23 November 2015

Academic Editor: Anna M. Gil-Lafuente

Copyright © 2015 Qingsong Jiang et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. C. B. Jiang and Y. Dai, Inventory Control Model, Technology and Simulation, China Fortune Press, 2010 (Chinese).
  2. R. C. Baker and T. L. Urban, “A deterministic inventory system with an inventory level dependent demand rate,” Journal of the Operational Research Society, vol. 39, no. 9, pp. 823–831, 1988. View at Publisher · View at Google Scholar
  3. B. N. Mandal and S. Phaujdar, “An inventory model for deteriorating items and stock-dependent consumption rate,” Journal of the Operational Research Society, vol. 40, no. 5, pp. 483–488, 1989. View at Publisher · View at Google Scholar
  4. J. Ray and K. S. Chaudhuri, “An EOQ model with stock-dependent demand, shortage, inflation and time discounting,” International Journal of Production Economics, vol. 53, no. 2, pp. 171–180, 1997. View at Publisher · View at Google Scholar · View at Scopus
  5. C.-Y. Dye and L.-Y. Ouyang, “An EOQ model for perishable items under stock-dependent selling rate and time-dependent partial backlogging,” European Journal of Operational Research, vol. 163, no. 3, pp. 776–783, 2005. View at Publisher · View at Google Scholar · View at Scopus
  6. L. E. Cárdenas-Barrón, G. Treviño-Garza, and H. M. Wee, “A simple and better algorithm to solve the vendor managed inventory control system of multi-product multi-constraint economic order quantity model,” Expert Systems with Applications, vol. 39, no. 3, pp. 3888–3895, 2012. View at Publisher · View at Google Scholar · View at Scopus
  7. C.-T. Chang, J.-T. Teng, and S. K. Goyal, “Optimal replenishment policies for non-instantaneous deteriorating items with stock-dependent demand,” International Journal of Production Economics, vol. 123, no. 1, pp. 62–68, 2010. View at Publisher · View at Google Scholar · View at Scopus
  8. Y. Duan, G. Li, J. M. Tien, and J. Huo, “Inventory models for perishable items with inventory level dependent demand rate,” Applied Mathematical Modelling, vol. 36, no. 10, pp. 5015–5028, 2012. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  9. L. J. Wang, H. W. Wang, and X. C. Sun, “Inventory control model for fresh agricultural products on Weibull distribution under inflation and delay in payment,” Kybernetes, vol. 41, pp. 1277–1288, 2012. View at Google Scholar
  10. B. Paul and C. Rajendran, “Rationing mechanisms and inventory control-policy parameters for a divergent supply chain operating with lost sales and costs of review,” Computers and Operations Research, vol. 38, no. 8, pp. 1117–1130, 2011. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  11. A. Krishnamoorthy and V. C. Narayanan, “Production inventory with service time and vacation to the server,” IMA Journal of Management Mathematics, vol. 22, no. 1, pp. 33–45, 2011. View at Publisher · View at Google Scholar · View at Zentralblatt MATH · View at MathSciNet · View at Scopus
  12. V. S. S. Yadavalli, B. Sivakumar, and G. Arivarignan, “Inventory system with renewal demands at service facilities,” International Journal of Production Economics, vol. 114, no. 1, pp. 252–264, 2008. View at Publisher · View at Google Scholar · View at Scopus
  13. M. K. Doğru, A. G. de Kok, and G. J. van Houtum, “Newsvendor characterizations for one-warehouse multi-retailer inventory systems with discrete demand under the balance assumption,” Central European Journal of Operations Research, vol. 21, no. 3, pp. 541–559, 2013. View at Publisher · View at Google Scholar · View at Scopus
  14. G. W. Hua, T. C. E. Cheng, and S. Y. Wang, “Managing carbon footprints in inventory management,” International Journal of Production Economics, vol. 132, no. 2, pp. 178–185, 2011. View at Publisher · View at Google Scholar · View at Scopus
  15. W.-Q. Zhou, L. Chen, and H.-M. Ge, “A multi-product multi-echelon inventory control model with joint replenishment strategy,” Applied Mathematical Modelling, vol. 37, no. 4, pp. 2039–2050, 2013. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  16. C. C. Murray, A. Gosavi, and D. Talukdar, “The multi-product price-setting newsvendor with resource capacity constraints,” International Journal of Production Economics, vol. 138, no. 1, pp. 148–158, 2012. View at Publisher · View at Google Scholar · View at Scopus
  17. S. Y. Choi and A. Ruszczyński, “A multi-product risk-averse newsvendor with exponential utility function,” European Journal of Operational Research, vol. 214, no. 1, pp. 78–84, 2011. View at Publisher · View at Google Scholar · View at MathSciNet · View at Scopus
  18. S. K. D. Schrijver, E.-H. Aghezzaf, and H. Vanmaele, “Aggregate constrained inventory systems with independent multi-product demand: control practices and theoretical limitations,” International Journal of Production Economics, vol. 143, no. 2, pp. 416–423, 2013. View at Publisher · View at Google Scholar · View at Scopus
  19. X. Yang, S. S. Heragu, and G. W. Evans, “Integrated production-inventory-distribution optimisation in a multi-echelon, multi-product, multi-carrier, multi-period system,” International Journal of Value Chain Management, vol. 4, no. 3, pp. 267–287, 2010. View at Publisher · View at Google Scholar · View at Scopus
  20. M. W. Liu, M. Y. Feng, and C. Y. Wong, “Flexible service policies for a Markov inventory system with two demand classes,” International Journal of Production Economics, vol. 151, pp. 180–185, 2014. View at Publisher · View at Google Scholar · View at Scopus
  21. N. Zhao and Z. T. Lian, “A queueing-inventory system with two classes of customers,” International Journal of Production Economics, vol. 129, no. 1, pp. 225–231, 2011. View at Publisher · View at Google Scholar · View at Scopus
  22. M. Karimi-Nasab and I. Konstantaras, “An inventory control model with stochastic review interval and special sale offer,” European Journal of Operational Research, vol. 227, no. 1, pp. 81–87, 2013. View at Publisher · View at Google Scholar · View at Zentralblatt MATH · View at MathSciNet · View at Scopus
  23. Q. Liu and S. Shum, “Pricing and capacity rationing with customer disappointment aversion,” Production and Operations Management, vol. 22, no. 5, pp. 1269–1286, 2013. View at Publisher · View at Google Scholar · View at Scopus
  24. J. T. Mo, G. M. Chen, T. Fan, and H. Mao, “The optimal replenishment strategy for perishable multi-products with stock-dependent and capacity constraint,” Systems engineering, vol. 29, pp. 98–101, 2011 (Chinese). View at Google Scholar
  25. M. J. Ji and Z. H. Jin, “Inventory optimization model with controllable lead time,” Journal of Dalian Maritime University, vol. 37, no. 1, pp. 87–90, 2011 (Chinese). View at Google Scholar · View at Scopus
  26. F. Z. Li, A Research into Multi-Echelon Inventory Control and Optimization Model in the Supply Chain, Southwest Jiaotong University, 2009 (Chinese).
  27. G. X. Dai, Y. Z. Hou, and Q. D. Yu, “An optimized method for two-echelon inventory system based on stochastic lead time,” Journal of Mathematics in Practice and Theory, vol. 36, pp. 52–57, 2006 (Chinese). View at Google Scholar
  28. B. Q. Zhao, Optimization of Multi-Echelon Inventory in Supply Chain Based on Time Competition, Shenyang University, Shenyang, China, 2013 (Chinese).
  29. X. B. Wang, Optimization Model for Production and Inventory under Uncertainty, Tianjin University, 2007 (Chinese).
  30. Y. Y. Fu and X. H. Pan, “A study of inventory management with fuzzy set theory under uncertainty,” Journal of Systems Engineering Theory and Practice, no. 9, pp. 54–58, 2005 (Chinese). View at Google Scholar · View at Scopus
  31. Y. N. Li and X. J. Xu, “Research on Stackelberg model of supply chain inventory optimization with controllable lead time and fuzzy circumstances,” Operations Research and Management Science, vol. 18, pp. 54–59, 2009 (Chinese). View at Google Scholar
  32. K. X. Wang and S. C. Guo, “The inventory risk analysis in fuzzy demand and optimal inventory,” Fuzzy Systems and Mathematics, vol. 24, pp. 98–102, 2010 (Chinese). View at Google Scholar
  33. F. L. Kong and Jirimutu, “A research on inventory optimization with random demand based on Monte Carlo simulation,” Statistics & Decisions, no. 8, pp. 36–38, 2013 (Chinese). View at Google Scholar
  34. G. F. Xu, Y. Y. Wu, X. J. Wang, and S. L. Yang, “Inventory control model for stochastic replenishment intervals and inventory-level-dependent demand,” Journal of Mathematics in Practice and Theory, vol. 44, pp. 12–20, 2014 (Chinese). View at Google Scholar
  35. G. C. Wu, Probability Theory and Mathematical Statistics, China Renmin University Press, 2006 (Chinese).
  36. X. Z. Wu and B. J. Zhao, Nonparametric Statistics, China Statistics Press, 2013 (Chinese).