Template-Type: ReDIF-Article 1.0 Author-Name: Mrudula Amirapu Author-X-Name-First: Mrudula Author-X-Name-Last: Amirapu Author-Name: Rajendran Eshwari Author-X-Name-First: Rajendran Author-X-Name-Last: Eshwari Author-Name: H.M. Nischitha Author-X-Name-First: H.M. Author-X-Name-Last: Nischitha Author-Name: N.J. Prajwal Author-X-Name-First: N.J. Author-X-Name-Last: Prajwal Author-Name: K.P. Lakshmi Author-X-Name-First: K.P. Author-X-Name-Last: Lakshmi Title: RFID-based smart inventory system for all businesses Abstract: This paper details the design and development of an RFID-based prototype inventory system. The system comes with a user-friendly graphical user interface and is built to track and monitor the movement of items, and maintain detailed (timestamped) audit logs on item removal, replenishment, and every user action. While authorised access to the store is achieved through RFID tags, this system uses an automatic servo motor-based locking mechanism to secure the items in the inventory store. The system is configured to identify and authenticate two user profiles - administrator and end user. The administrator (in charge of the inventory) typically has permissions to monitor and update the inventory, while the end user is only able to view the contents of the inventory through the web GUI, and place/replace items in the store. This system has been developed to be scalable to suit inventory applications across business entities, educational institutions such as colleges and schools and even homes. This RFID-based inventory system comprises mainly of an inventory store that has RFID tagged items/goods, and an RFID reader that tracks them. Journal: Int. J. of Inventory Research Pages: 1-13 Issue: 1 Volume: 6 Year: 2021 Keywords: inventory system; passive RFID; active RFID; Raspberry Pi. File-URL: http://www.inderscience.com/link.php?id=113808 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijires:v:6:y:2021:i:1:p:1-13 Template-Type: ReDIF-Article 1.0 Author-Name: Dipak Barman Author-X-Name-First: Dipak Author-X-Name-Last: Barman Author-Name: Barun Das Author-X-Name-First: Barun Author-X-Name-Last: Das Title: Two-echelon supply chain inventory model with variable lead time and ramp-type demand for deterioration item under bi-level credit period Abstract: Here, a two-echelon supply chain inventory problem consisting of a vendor and a buyer is considered for a deteriorating item. In the system, the buyer receives an opportunity of trade credit from the vendor and simultaneously the buyer offers a credit period to the customers. The buyer's inventory model includes stochastic lead time following a normal distribution and the buyer sells the item to the customer with a more realistic ramp-type demand rate. The vendor produces the goods to maintain the supply to the buyer. The purpose of this study is to minimise the total cost for different sub-cases. The problem is optimised through the soft computing technique namely, genetic algorithm and different types of convexity has been tested here. Finally, this model is discussed with numerical examples. Journal: Int. J. of Inventory Research Pages: 14-46 Issue: 1 Volume: 6 Year: 2021 Keywords: vendor-buyer integrated inventory system; stochastic lead time; ramp-type demand; deterioration; bi-level credit policy; genetic algorithm. File-URL: http://www.inderscience.com/link.php?id=113816 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijires:v:6:y:2021:i:1:p:14-46 Template-Type: ReDIF-Article 1.0 Author-Name: H.A. Fergany Author-X-Name-First: H.A. Author-X-Name-Last: Fergany Author-Name: O.A. Gawdt Author-X-Name-First: O.A. Author-X-Name-Last: Gawdt Author-Name: Y.Y. Morsy Author-X-Name-First: Y.Y. Author-X-Name-Last: Morsy Title: Scheduling period inventory model with Weibull deteriorating for crisp and fuzzy Abstract: Two different cases of the probabilistic scheduling period inventory model for deteriorating items are discussed. The deterioration rate follows the Weibull distribution with two-parameter with varying and constrained expected deteriorating cost, when the demand during any scheduling period is a random variable and without shortage. The first case when the total cost components are considered to be crisp values, and the other case when the costs are considered as trapezoidal fuzzy numbers. Also, some special cases are deduced. To illustrate the proposed model in the crisp case and the fuzzy case, a numerical example was added. Journal: Int. J. of Inventory Research Pages: 47-66 Issue: 1 Volume: 6 Year: 2021 Keywords: deterioration; probabilistic demand rate; scheduling period; trapezoidal fuzzy numbers; Weibull distribution. File-URL: http://www.inderscience.com/link.php?id=113828 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijires:v:6:y:2021:i:1:p:47-66 Template-Type: ReDIF-Article 1.0 Author-Name: Menghui Qiu Author-X-Name-First: Menghui Author-X-Name-Last: Qiu Title: The complementarity effect in the venture capital contract: a generalised formulation and new insights Abstract: The moral hazard problem plagues the start-ups and even mature enterprises when they incorporate venture capital to pursue business upgrade or expansion. Especially in the value chain where the venture capitalist can synergise with the entrepreneur to contribute to the firm value. This paper proposes a game theoretic approach to solve the entrepreneur's optimisation problem in a venture capital financing scheme and generalises the formulation without a specific revenue function. Furthermore, this study generates managerial insights for venture capital market and relevant sustainable supply chain management. The key results also show that the complementarity effect can incentivise both the entrepreneur and the venture capitalist to exert more effort, thus achieving larger enterprise value when it is relatively significant, and the inefficiency caused by the allocation of equity share could be mitigated. Journal: Int. J. of Inventory Research Pages: 67-78 Issue: 1 Volume: 6 Year: 2021 Keywords: equity share; venture capital; sequential decisions; game theory; supply chain management. File-URL: http://www.inderscience.com/link.php?id=113852 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijires:v:6:y:2021:i:1:p:67-78 Template-Type: ReDIF-Article 1.0 Author-Name: Timothy S. Vaughan Author-X-Name-First: Timothy S. Author-X-Name-Last: Vaughan Title: Application of a dynamic inventory policy to spare parts subject to age replacement Abstract: Development of inventory policy for spare parts subject to age replacement has previously been studied using (<i>s</i>, <i>S</i>) type ordering policies. When age replacement causes a large percentage of spare part demand to result from scheduled replacement rather than random failure, this policy fails to take advantage of the presumably known schedule of planned replacement times. This paper uses simulation analysis to characterise the conditions under which a dynamic ordering policy such as Wagner-Whitin produces significant cost reductions relative to (<i>s</i>, <i>S</i>), by virtue of taking the planned replacement times into account. A modification to the basic Wagner-Whitin method is introduced to address the issue of overly frequent, small order quantities when the demand pattern is dominated by random failures. Simulation results demonstrate the Wagner-Whitin algorithm significantly outperforms the (<i>s</i>, <i>S</i>) policy when a sufficient percentage of demand is due to scheduled replacement. The modified Wagner-Whitin policy outperforms the (<i>s</i>, <i>S</i>) policy under any mixture of planned replacement and random failure spare parts demand. Journal: Int. J. of Inventory Research Pages: 79-102 Issue: 1 Volume: 6 Year: 2021 Keywords: inventory; maintenance; replacement; simulation; dynamic programming. File-URL: http://www.inderscience.com/link.php?id=113879 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijires:v:6:y:2021:i:1:p:79-102