Multi-objective sustainable inventory model with shortages and radio frequency identification under uncertain environment

Date

2025-01-01

Author

Mukherjee, Alay Kumar
Maity, Gurupada
Jablonsky, Josef
Roy, Sankar Kumar
Weber, Gerhard Wilhelm

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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This study analyses the multi-objective inventory optimisation, where demand is influenced by both selling price and marketing efforts. In traditional inventory problem, profit or cost is optimised through single objective function. Here, we identify two conflicting aspects and treat them as separate objective functions which present multi-objective scenarios. To deal with real scenario in the formulated model, shortages, emissions, fuzzy-random numbers, RFID, money inflation are permitted. During production, some products are defective; among these, some are repairable while others are not. Repairable products are fixed, whereas non-repairable products are sent to a reclamation centre. From there, usable parts are retained, and remaining parts are disposed. Application example is included and then solved. The findings indicate that this model is the superior model of the traditional inventory models. Subsequently, a sensitivity analysis subject to the primary parameters is incorporated to verify the reliability of the proposed study which leads to some intriguing managerial insights that helped the decision maker to make some suitable and qualitative decisions.

Subject Keywords

carbon emission and imperfect production, Economic production quantity, fuzzy-random number, multi-objective optimisation, price-sensitive demand, radio frequency identification device, sustainability investment cost

URI

https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=105000795748&origin=inward
https://hdl.handle.net/11511/114245

Collections

Graduate School of Applied Mathematics, Article