A partially integrated production-inventory model with interval valued inventory costs,variable demand and flexible reliability |
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| Affiliation: | 1. Department of Mathematics, The University of Burdwan, Burdwan 713104, India;2. School of Engineering and Sciences, Tecnológico de Monterrey, E. Garza Sada 2501 Sur, C.P. 64849, Monterrey, Nuevo León, Mexico;1. School of Economics and Management, Chongqing Jiaotong University, No. 66 Xuefu Ave., Chongqing, 400074, PR China;2. Intellectual Property Institute of Chongqing, Chongqing University of Technology, No. 69 Hongguang Ave., Ba''nan District, Chongqing, 400054, PR China;3. School of Management & Engineering, Nanjing University, No. 22 Hankou Rd., Nanjing, 210093, PR China;4. School of Business Administration, Guizhou University of Finance and Economics, Huaxi University Town, Guiyang, 550025, PR China;1. Departamento de Estadística e Investigación Operativa, Universidad de Valladolid, Spain;2. Instituto Universitario de Investigación en Gestión Forestal Sostenible, Universidad de Valladolid, Spain;3. Instituto de Investigación en Matemáticas, Universidad de Valladolid, Spain;4. Departamento de Matemática Aplicada, Universidad de Valladolid, Spain;5. Departamento de Matemáticas, Estadística e Investigación Operativa, Universidad de La Laguna, Spain;1. Department of Mathematics, The University of Burdwan, Burdwan 713104, India;2. Department of Mathematics, Krishnagar Govt. College, Krishnagar 741101, India;1. Department of Mathematics, Bengal Engineering and Science University, Shibpur, Howrah 711103, India;2. Department of Mathematics, National Institute of Technology-Puducherry, Karaikal 609 605, India |
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| Abstract: | This paper formulates a production-inventory model to investigate the effects of partially integrated production and marketing policy of a manufacturing firm. Demand is assumed to be variable and dependent on the selling price and marketing cost. Also, different inventory costs are considered as interval valued. Shortages are permitted and partially backlogged with a rate dependent on the waiting time. Considering that manufacturing process generates defective units four possible cases have been identified and studied. Basically, the optimization problems (maximization problem for Marketing department and minimization problems for Production and Research & Development departments) have been formulated and solved. For solving these optimization problems, an efficient soft computing algorithm based on Particle Swarm Optimization-Constriction factor (PSO-CO) is proposed. In order to illustrate and validate the production-inventory model a numerical example is solved. Finally, a sensitivity analysis is done to study the effect of changes of different system parameters on optimal policies. |
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| Keywords: | Inventory Production Flexible reliability Partial backlogging Particle swarm optimization |
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