Sustainable Supply Chain Model for Defective Growing Items (Fishery) with Trade Credit Policy and Fuzzy Learning Effect

Osama Abdulaziz Alamri

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Supply Chain and Inventory Management Sustainable Supply Chain Management Optimization and Mathematical Programming

Abstract

Fundamentally, newborn items that are used commercially, such as chicken, fish, and small camel, grow day by day in size and also increase their weight. The seller offers a credit policy to the buyer to increase sales for a particular growing item (fish), and in this paper, it is assumed that the buyer accepts the policy of the trade credit. In this paper, the buyer acquires the newborn items (fish) from the seller and then sells them when the newborn items have increased their size and weight. From this point of view, the present paper reveals a fuzzy-based supply chain model that includes carbon emissions and a permissible delay in payment for defective growing items (fish) under the effect of learning where the demand rate is imprecise in nature and is treated as a triangular fuzzy number. Finally, the buyer’s total profit is optimized with respect to the number of newborn items. A numerical example has been presented for the justification of the model. The findings clearly suggest that the presence of trade credit, learning, and a fuzzy environment have an affirmative effect on the ordering policy. The buyer should order more to avoid higher interest charges after the grace period, which eventually increases their profit, while at the same time, it is also beneficial for the buyer to order less to gain the benefit of the trade credit period. The fuzziness theory controls the uncertainty situation of inventory parameters with the help of a de-fuzzified method. The lower and upper deviation of demand affects the total fuzzy profit. The effect of learning gives a positive response concerning the size of the order and the buyer’s total fuzzy profit. This means that the decision-maker should be aware of the size of the newborn items, rate of learning, and trade credit period during the supply chain because these directly affect the buyer’s total fuzzy profit. The impact of the inventory parameter of this model is presented with the help of sensitivity analysis.

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References

1936Factors Affecting the Cost of Airplanes 2000Economic production quantity model for items with imperfect quality 1995Ordering Policies of Deteriorating Items under Permissible Delay in Payments 2014HOW MANY PARTS TO MAKE AT ONCE 2005Optimal inventory model for items with imperfect quality and shortage backordering 2003A joint approach for setting unit price and the length of the credit period for a seller when end demand is price sensitive 2018Sustainable inventory management with deteriorating and imperfect quality items considering carbon emission 2003An application of fuzzy sets theory to the EOQ model with imperfect quality items

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