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Impact of inﬂation and trade credit policy in an inventory model for imperfect quality items with allowable shortages

Khanna A., Kishore A., Jaggi C. K.

Control and Cybernetics

2016

Vol. 45, no. 1

37--82

Retail businesses must constantly evolve with new strategies introduced in order to meet and even to exceed customers’ expectations. This eﬀort can be enhanced by incorporating inspection processes in business routines that will maximize the eﬀectiveness of attempts to sell quality products. Further, permissible delay in payments has certainly been a prominent strategy in today’s business transactions, helping in gaining the ﬁnancial advantage for both the retailers and the suppliers. Moreover, in order to recognize the proper and exact timing of cash ﬂows associated with an inventory system, inﬂation and time value of money should also be incorporated. Considering all the above described real life aspects and problems, a model is formulated here to study the combined eﬀect of imperfect quality items, trade credit, shortages, inﬂation and time value of money on an inventory system. An analytical method is employed to jointly optimize the order quantity and the shortages. To study the behavior and application of the proposed model, a numerical example, including sensitivity analysis, has been analyzed. The potential applications, improving the decision making process of the model introduced can be found in industries like textile, footwear, plastics, electronics, etc.

Hydrophilic Modified clay Nanocomposites: Effect of clay on Thermal and Vibrational Properties

Kishore A., Venkatesh D. B., Kumar M. A., Ramesh A., Murthy K. N., Karthikeyan N.

International Letters of Chemistry, Physics and Astronomy

2014

Vol. 8

73--86

Epoxy (LY-556/HY-951) system filled with modified clay (MC) was synthesized by using mechanical shear mixing with the addition of hardener as tri-ethylene-tetra-amine (TETA). The effect of the fumed silica can be negated by the application of a shear force (e.g. mixing, brushing, spraying etc), allowing the liquid to flow, level out and permit the escape of entrapped air. The reinforcement effects of MC in the epoxy polymer on thermal, mechanical and vibration properties were studied. Curing study shows that the addition MC does not show any effect in the curing behavior of epoxy polymer. Thermogravimetry analysis (TGA) shows enhanced thermal stability for epoxy with MC fillers. The epoxy with MC fillers shows considerable improvement on tensile and impact properties over pure epoxy polymer. SEM studies shows that addition of clay significantly turns the epoxy system from brittle to ductile nature was played instrumental in scaling performance. The improvement in tensile and impact properties of nanocomposites is supported with the fracture surface studies. Epoxy with MC fillers shows enhanced vibration characteristics than that of the pure epoxy polymer. FTIR studies indicated the formation of C-H bonds on the surface of the nanocomposites.