Inventory framework incorporating product deterioration, quadratic demand, inflation, trade credit, partial backlogging, carbon emission, learning effects and preservation

Effective inventory management is a critical aspect of business activities that ensures smooth functioning and balances supply and demand. One major concern in inventory systems is the variation of demand with price. Previous studies have addressed pricing strategies and non-instantaneous deterioration separately, and some have examined linear demand that depends on price in an inflationary environment under learning effects. However, a study gap exists in integrating price-dependent quadratic demand and noninstantaneous deterioration in an inflationary environment that also considers trade credit financing, partial backlogging of shortages, carbon emission costs, and preservation technology under learning effects. To address this gap, we have developed a comprehensive inventory model that incorporates these factors and analyzes their combined impact on the optimal inventory decisions and total cost. The main contributions of this study include integrating quadratic price-dependent demand with non-instantaneous deterioration, evaluating the effectiveness of preservation technology investment in an inflationary environment, and incorporating leaning effects and trade credit. The proposed model is solved using Particle Swarm Optimization (PSO), which is implemented in MATLAB to determine the optimal values of decision variables and total cost. Numerical results demonstrate that the integrated model reduces the total cost by ۴.۸%, ۶.۲ %, and ۱۳.۱% across the trade credit periods of ۰.۲, ۰.۸, and ۱.۶ years compared to traditional inventory models that exclude preservation technology investment. The sensitivity analysis shows how changes in economic and environmental factors can impact the total inventory cost, providing managers with valuable insights on how to optimize inventory management.

کلیدواژه ها:

Particle Swarm Optimization ، Inflation ، Trade-credit ، Investment in preservation technology ، price dependent quadratic demand ، Carbon emission cost