Replenishment policies for imperfect inventory system under natural idle time and shortages
Most of the offline businesses do not run continuously for the entire day, therefore, the concept of idle time is inevitable. Natural idle time is referred to as the closing time when no demand is being fulfilled by the seller, the unproductive time when labor is not getting utilized but could be. I...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Belgrade
2020-01-01
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| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2020/0354-02432000010J.pdf |
| _version_ | 1818573524949794816 |
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| author | Jaggi Chandra K. Rini Kishore Aakanksha |
| author_facet | Jaggi Chandra K. Rini Kishore Aakanksha |
| author_sort | Jaggi Chandra K. |
| collection | DOAJ |
| description | Most of the offline businesses do not run continuously for the entire day, therefore, the concept of idle time is inevitable. Natural idle time is referred to as the closing time when no demand is being fulfilled by the seller, the unproductive time when labor is not getting utilized but could be. In view of this, this paper investigates replenishment policies for the retailer who runs his business for only a part of a day and closes his shop for the remaining time. The demand gets fulfilled only during the opening time period while no customer is entertained during the closing part of the day. The retailer also faces issues of imperfect quality items in the lot received from his supplier. Thus, he carries out a rigorous inspection process of the entire lot so as to fulfill the demand with perfect quality items only. Under the above-stated circumstances, it is difficult to avoid shortages in the model. Thus, the model assumes fully backlogged shortages and is solved under a profit maximizing framework. The model is exemplified to understand its behavior. Further, to gain some managerial insights and to check the robustness of the model parameters, detailed sensitivity analysis is performed. |
| first_indexed | 2024-12-15T00:12:30Z |
| format | Article |
| id | doaj.art-84a34307ea874173bcb09a9f8d287acd |
| institution | Directory Open Access Journal |
| issn | 0354-0243 1820-743X |
| language | English |
| last_indexed | 2024-12-15T00:12:30Z |
| publishDate | 2020-01-01 |
| publisher | University of Belgrade |
| record_format | Article |
| series | Yugoslav Journal of Operations Research |
| spelling | doaj.art-84a34307ea874173bcb09a9f8d287acd2022-12-21T22:42:32ZengUniversity of BelgradeYugoslav Journal of Operations Research0354-02431820-743X2020-01-0130325327210.2298/YJOR190310010J0354-02432000010JReplenishment policies for imperfect inventory system under natural idle time and shortagesJaggi Chandra K.0Rini1Kishore Aakanksha2Department of Operational Research, Faculty of Mathematical Sciences, New Academic Block, University of Delhi, Delhi, IndiaDepartment of Operational Research, Faculty of Mathematical Sciences, New Academic Block, University of Delhi, Delhi, IndiaDepartment of Operational Research, Faculty of Mathematical Sciences, New Academic Block, University of Delhi, Delhi, IndiaMost of the offline businesses do not run continuously for the entire day, therefore, the concept of idle time is inevitable. Natural idle time is referred to as the closing time when no demand is being fulfilled by the seller, the unproductive time when labor is not getting utilized but could be. In view of this, this paper investigates replenishment policies for the retailer who runs his business for only a part of a day and closes his shop for the remaining time. The demand gets fulfilled only during the opening time period while no customer is entertained during the closing part of the day. The retailer also faces issues of imperfect quality items in the lot received from his supplier. Thus, he carries out a rigorous inspection process of the entire lot so as to fulfill the demand with perfect quality items only. Under the above-stated circumstances, it is difficult to avoid shortages in the model. Thus, the model assumes fully backlogged shortages and is solved under a profit maximizing framework. The model is exemplified to understand its behavior. Further, to gain some managerial insights and to check the robustness of the model parameters, detailed sensitivity analysis is performed.http://www.doiserbia.nb.rs/img/doi/0354-0243/2020/0354-02432000010J.pdfidle timeimperfect qualityinspectionshortages |
| spellingShingle | Jaggi Chandra K. Rini Kishore Aakanksha Replenishment policies for imperfect inventory system under natural idle time and shortages Yugoslav Journal of Operations Research idle time imperfect quality inspection shortages |
| title | Replenishment policies for imperfect inventory system under natural idle time and shortages |
| title_full | Replenishment policies for imperfect inventory system under natural idle time and shortages |
| title_fullStr | Replenishment policies for imperfect inventory system under natural idle time and shortages |
| title_full_unstemmed | Replenishment policies for imperfect inventory system under natural idle time and shortages |
| title_short | Replenishment policies for imperfect inventory system under natural idle time and shortages |
| title_sort | replenishment policies for imperfect inventory system under natural idle time and shortages |
| topic | idle time imperfect quality inspection shortages |
| url | http://www.doiserbia.nb.rs/img/doi/0354-0243/2020/0354-02432000010J.pdf |
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