Enhancing ameliorating items with sustainable inventory management strategies: A Weibull approach for time and price-dependent demand trends

• Revolutionizes waste minimization by predicting optimal replenishment times and quantities, ensuring maximum utilization of fresh products. • Enables real-time supply chain adjustments based on dynamic demand forecasts, mitigating overstock and stockouts. • Redefines industry standards by ensuring products reach peak quality before deterioration, enhancing market competitiveness. • Minimizes supply chain inefficiencies through innovative instantaneous replenishment strategies, reducing operational costs. • Integrates efficiency and environmental sustainability into livestock production, fostering a resilient and eco-friendly future. To meet the needs of a growing population, improving the food supply is imperative. This research aims to identify and address the challenges that food inventories face due to deterioration during amelioration. The signature model employs empirical methodologies and assumes the application of a Weibull distribution to analyse the rates of amelioration and deterioration. Notably, the study acknowledges the dynamic nature of demand, which exhibits both price and time dependencies. The research delves into the plausible scenario where items may deteriorate even after amelioration. To counter this, an innovative instantaneous replenishment system is suggested, encompassing both ameliorating and deteriorating products. The economic order quantity is the pivotal metric for ascertaining optimal order quantities and cycle lengths and is ultimately meant to maximize profitability. An exceptional aspect is the application of a genetic algorithm in conjunction with MATLAB code for numerical analyses and validation of sensitivity analysis.

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Publication Details

Journal
Ain Shams Engineering Journal
Published
2024-10-02
DOI
https://doi.org/10.1016/j.asej.2024.103065
Citations
10
Primary Topic
Supply Chain and Inventory Management
Type
article
Field-Weighted Citation Impact
5.29
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article

Enhancing ameliorating items with sustainable inventory management strategies: A Weibull approach for time and price-dependent demand trends

S. Umamaheswari, E. Arunadevi
10 citations
Ain Shams Engineering Journal
Supply Chain and Inventory Management
5.29
article

Enhancing ameliorating items with sustainable inventory management strategies: A Weibull approach for time and price-dependent demand trends

S. Umamaheswari, E. Arunadevi
article en
10 citations

Abstract

• Revolutionizes waste minimization by predicting optimal replenishment times and quantities, ensuring maximum utilization of fresh products. • Enables real-time supply chain adjustments based on dynamic demand forecasts, mitigating overstock and stockouts. • Redefines industry standards by ensuring products reach peak quality before deterioration, enhancing market competitiveness. • Minimizes supply chain inefficiencies through innovative instantaneous replenishment strategies, reducing operational costs. • Integrates efficiency and environmental sustainability into livestock production, fostering a resilient and eco-friendly future. To meet the needs of a growing population, improving the food supply is imperative. This research aims to identify and address the challenges that food inventories face due to deterioration during amelioration. The signature model employs empirical methodologies and assumes the application of a Weibull distribution to analyse the rates of amelioration and deterioration. Notably, the study acknowledges the dynamic nature of demand, which exhibits both price and time dependencies. The research delves into the plausible scenario where items may deteriorate even after amelioration. To counter this, an innovative instantaneous replenishment system is suggested, encompassing both ameliorating and deteriorating products. The economic order quantity is the pivotal metric for ascertaining optimal order quantities and cycle lengths and is ultimately meant to maximize profitability. An exceptional aspect is the application of a genetic algorithm in conjunction with MATLAB code for numerical analyses and validation of sensitivity analysis.

Ain Shams Engineering JournalVol. 15(12)
Vellore Institute of Technology University (IN)
Responsible consumption and production
Openalex Percentile: Top 4%
Supply Chain and Inventory Management
5.29
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Enhancing ameliorating items with sustainable inventory management strategies: A Weibull approach for time and price-dependent demand trends — S. Umamaheswari, E. Arunadevi · Ain Shams Engineering Journal (2024) | TGRS Research Map | TGRS