During the current pandemic period, the number of online transactions to purchase products through a mixed cash and prepayment agreement has increased significantly. Under this agreement, the buyer pays off a predefined percentage of the purchase price in advance, and the rest of the percentage is accomplished through the cash-on-delivery method. Adopting a practical scenario where the buyer has a storeroom with limited capacity, two sustainable inventory procedures for perishable items are developed, viz. (i) the inventory scheme with allowable shortages and fractional backlog, and (ii) the inventory scheme without ending. In both the schemes, not only the demand function but also the decay rate reveal an upward trend against storage time. However, the deterioration commencing moment is not instant but after a specific time interval from the products’ storage moment. The cost of storing items is adopted as a linear function of storing time as the decay rate shows an ascending trend against storing time. A salient criterion is developed to examine when the non-ending situation with salvage values is more economical for the industry manager than the zero ending situation with the regular selling price. Finally, several decision-making findings are presented after completing four numerical examples along with a real-life case study for the validation of the inventory schemes.
The goal of this work is to demonstrate the optimal strategy of an inventory system for perishable goods with hybrid demand dependent on selling price and stock under the partial backlogging with a certain fixed ratio. In this system, the concept of pre-payment policy with a discount facility and fixed preservation investment are also introduced. Then, this inventory system is modelled mathematically by governing differential equations, and solving these equations, the corresponding average profit of the proposed model is obtained as a non-linear maximization problem. To check the optimality of the solution of the obtained non-linear maximization problem, some results are derived with the help of pseudo concavity and optimality conditions of the objective function of the non-linear maximization problem. Then to justify the model, three examples are taken and solved by Lingo software. Also, the concavity of the average profit is examined graphically. Finally, a post optimality analysis is performed to show the effects of known inventory parameters on the optimal policy.
The goal of this work is to discuss a production inventory model for deteriorating items with nonlinear price and linear stock dependent market demand along with an overtime production opportunity. The corresponding optimization problem is articulated mathematically and hence solved by using lingo software. To examine the proposed nonlinear optimization problem’s significance, one numerical example is deliberated. A sensitivity analysis is accomplished on the basis of the systematic changes of the system parameters. As a final point, based on the accomplished analysis an effectual conclusion is reflected.
The Malaysian monetary framework has assumed a significant job in different periods of financial advancement. Malaysian stock exchange, the Malaysian capital market, has been expanded essentially on the whole after a few monetary emergencies and added to financial advancement incredibly. The monetary organizations proceed as hazard administrators in the interest of speculators. The reserve funds are designated so that the savers get a sensible pace of return [1]. Investors are attracted by the stable and developing monetary market. It is settled in financial investors' brains that putting resources into the securities exchange will provide them palatable returns, and it will subsidize a significant upgrading for monetary advancement. Besides, the effectiveness of the business organization is increasingly significant for money related development. Numerous procedures are utilized by financial specialists to improve their arrival and limit the danger of their speculation [2]. In recent years, the scholastic study on the exhibition of monetary foundations has progressively centered on wilderness efficiency. If there should arise an occurrence of corporate procedure progress execution assessment and benchmark are widely rehearsed strategies [3]. On the off chance that there is no standard accessible for the assessment, at that point benchmarking can be outstandingly basic for the assessment [4]. For execution assessment, plentiful change happened in the previous two decades. By and by, execution assessment is basic addition factors. The corporate presentation assessment is progressively troublesome as an enormous number of factors are engaged with the estimation [5]. Execution investigation offers chances to speculators, especially private value investors to locate the additional incentive for their non-economic related execution [3].
The purpose of the study is to investigate the heat transfer for copper oxide-water nanofluid flow inside a concentrical annulus between a colder square and het up elliptical cylinder using non-homogeneous dynamic model numerically. The uniform temperature is applied for the elliptic cylinder and square wall. An unvarying magnetic field is enforced within an enclosure. The momentum, energy and concentration equations along with the continuity equations of nanofluids are strongly coupled and nonlinear and solved using the Galerkin finite element method. The flow, thermal and concentration fields have been displayed to recognize the heat transfer for copper oxide-water nanofluid. The nature of the heat transfer is justified for pertinent parameters of the problem. The results show that the flow, thermal field, and concentration field are strongly controlled by the applied magnetic field. The heat transfer increases significantly for the increase of nanoparticle volume fraction, thermal Rayleigh number and slightly for the magnetic field inclination angle whereas it decreases remarkably for an increase of the nanoparticle diameter and the magnetic field parameter. The similar patterns but opposite effects of heat transfer distribution occur for the increment of the magnetic field and the buoyancy force parameter.