An integrated inventory model for imperfect production system incorporating marketing decisions with an investment in preservation technology Online publication date: Thu, 26-Aug-2021
by Priyamvada; Prerna Gautam; Aditi Khanna
International Journal of Services Operations and Informatics (IJSOI), Vol. 11, No. 2/3, 2021
Abstract: This paper develops an inventory framework which considers a 'single-vendor' and a 'single-buyer'. The vendor administers the manufacturing procedure which has been supposed as imperfect because it moves from an 'in-control state' to 'out-of-control' state and yields defectives. The items in the system are also of deteriorating in nature, thus, to increase the usability of the products the buyer invests in the preservation technology. The product's demand is taken to be a function of number of inclusions in the media. The developed study maximises the profit by jointly optimising numbers of insertions in media, cycle length and investment in preservation technology with both traditional and bi-level approach. Numerical analysis is done to showcase the rationality of the model. Further, detailed sensitivity analysis is given to exemplify key features which cater to the managers with important decision-making insights.
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