Three-Echelon Supply Chain Management with Deteriorated Products under the Effect of Inflation

Surendra Vikram Singh Padiyar, Vandana, Shiv Raj Singh, Dipti Singh, Mitali Sarkar, Bikash Koli Dey and Biswajit Sarkar ()
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Surendra Vikram Singh Padiyar: Department of Mathematics, Government Degree College, Haldwani 263139, India
Vandana: Department of Mathematics, Inderprastha Engineering College, Ghaziabad 201010, India
Shiv Raj Singh: Department of Mathematics, Chaudhary Charan Singh University, Meerut 250001, India
Dipti Singh: Department of Mathematics, Chaudhary Charan Singh University, Meerut 250001, India
Mitali Sarkar: Department of Industrial and Management Engineering, Pohang University of Science and Technology, 77, Cheongam-ro, Nam-gu, Pohang-si 37673, Republic of Korea
Bikash Koli Dey: Department of Industrial & Data Engineering, Hongik University, Wausan-ro 94, Mapo-Gu, Seoul 04066, Republic of Korea
Biswajit Sarkar: Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Republic of Korea

Mathematics, 2022, vol. 11, issue 1, 1-19

Abstract: A business can be properly managed globally when it is under a supply chain. When it is a global supply chain, inflation has a huge effect on supply chain profit. Another important factor is the deterioration of products. Products can deteriorate during storage or transportation, which badly affects each supply chain player. This study develops a three-echelon supply chain model through which products can be delivered to customers easily. In this model, one producer and multiple buyers are considered, and each buyer has a separate group in which multiple suppliers have been taken. Inflation is also added to the model for inflationary fluctuations. To understand this model in real life, a numerical example is discussed and the total profit from the supply chain is extracted. Sensitivity analysis is also shown at the end of the model to find out the effect on the model due to changes in some parameters that affect this model highly. After developing this model, it was found that if the inflation rate falls, then the total profit will increase continuously. On the contrary, if the inflation rate increases, then, in this situation, the total profit will decrease continuously. At present, vaccine makers’ total profit can support the economy of any country, and in this model, the inflation rate decreases as profit increases.

Keywords: supply chain management; inflation; deterioration; transportation (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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