This paper presents a literature review for inventory control of deteriorating items since 2018. A classification including 18 classes and 33 subclasses is offered to categorize inventory control models, constraints, and solution methods used in previous studies. Providing standard classes in this field, such as demand, deterioration, shortages, number of warehouses, and time value of money alongside new classes, for example, the type of model costs and supply chain, inventory constraints, number of supply chain levels, time horizon, lead time, considering multi-item models, preservation technology, financial conditions, non-instantaneous deteriorating items, environmental issues, and solution methods made this classification more comprehensive. A brief history and explanation are given to understand each class better, and related articles are grouped in these classes. The research gaps and a crucial aspect that paves the way for future research are presented in each category. A broad view of the future of this topic is provided, and exciting opportunities are highlighted for researchers to contribute to this field and inspire them to explore these potential areas of research. The potential for future research in this subject is vast and promising; this article offers numerous opportunities for researchers to make significant contributions. The results show that the best ways to extend this topic are using variable deterioration rates, costs, and demand functions, considering realistic assumptions, including allowable shortages with partial backlogging, two warehouses, inflation and discounts, preservation technology, uncertain lead time, and environmental issues. Developing cyclic (if possible), multi-item, and production models with financial conditions and various inventory constraints is an excellent way to develop existing models. Finally, solving the proposed models using exact methods to find the global answer is a great effort to contribute to this field.

Safety is a top concern for the civil aviation industry, and the risk of safety accidents will increase due to pilot fatigue. To ensure the safety of civil aviation, this paper proposes a method to solve the crew scheduling problem considering pilot fatigue. In order to reflect individual differences and fatigue levels of pilots, an improved three-stage alertness calculation model is first proposed based on subjective and objective perspectives to represent pilots’ alertness levels and fatigue working duration quantitatively. Then, for the crew scheduling problem considering pilot fatigue, a mixed integer programming model is constructed to simultaneously achieve the optimization objectives of reducing the overall scheduling cost and crew fatigue working duration. Next, since the actual crew scheduling problem is large-scale, a solution algorithm based on a column generation framework is developed to improve the quality and efficiency of solving the large-scale crew scheduling problem. Furthermore, in the case study, we collected actual data from an airline company to validate the effectiveness of our proposed method. Finally, through multiple experimental comparisons and analyses, to balance the two optimization objectives mentioned above, it is more reasonable to handle pilot fatigue working duration with soft constraints. Sensitivity analysis reveals the variation rules of the crew cost and fatigue, providing some valuable managerial insights for the crew scheduling problem considering pilot fatigue.

Metaheuristic algorithms are easy, flexible and nature-inspired algorithms used to optimize functions. To make metaheuristic algorithms better, multiple algorithms are combined and hybridized. In this context, a hybrid algorithm (HSSAOA) was developed by adapting the exploration phase of the arithmetic optimization algorithm (AOA) to the position update part of the salp swarm algorithm (SSA) of the leader salps/salps. And also, there have also been a few new additions to the SSA. The proposed HSSAOA was tested in three different groups using 22 benchmark functions and compared with 7 well-known algorithms. HSSAOA optimized the best results in a total of 16 benchmark functions in each group. In addition, a statistically significant difference was obtained compared to other algorithms.

Artificial neural networks (ANNs) are one of the artificial intelligence techniques used in real-world problems and applications encountered in almost all industries such as education, health, chemistry, food, informatics, logistics, transportation. ANN is widely used in many techniques such as optimization, modelling, classification and forecasting, and many empirical studies have been carried out in areas such as planning, inventory management, maintenance, quality control, econometrics, supply chain management and logistics related to ANN. The most important and just as hard stage of ANNs is the learning process. This process is about finding optimal values in the search space for different datasets. In this process, the values generated by training algorithms are used as network parameters and are directly effective in the success of the neural network (NN). In classical training techniques, problems such as local optimum and slow convergence are encountered. Meta-heuristic algorithms for the training of ANNs in the face of this negative situation have been used in many studies as an alternative. In this study, a new hybrid algorithm namely MVOSANN is suggested for the training of ANNs, using Simulated annealing (SA) and Multi-verse optimizer (MVO) algorithms. The suggested MVOSANN algorithm has been experimented on 12 prevalently classification datasets. The productivity of MVOSANN has been compared with 12 well-recognized and current meta-heuristic algorithms. Experimental results show that MVOSANN produces very successful and competitive results.

Asset Liability Management (ALM) can be overseen using financial ratios derived from financial statements. These statements provide a comprehensive picture of a company's status and necessitate analysis to evaluate performance. This research aims to analyze financial ratios to describe the financial condition, measure business development over time, and evaluate the achievement of the company's objectives. An optimization analysis of financial ratios is performed using the Weighted Goal Programming (WGP) model, which addresses multiple objectives by applying weights based on their priorities. The Best-Worst Method (BWM) was used to determine the priority weights of deviation variables from each financial ratio target. Financial ratios were selected based on their impact on profit using factor analysis. The constructed WGP model aims to minimize deviations in Return on Assets, Operating Ratios, Operating Income Ratio, Total Assets Turnover, and Current Ratio. Computational calculations to solve the WGP model are performed using Python, with pseudocode provided. A case study on a company in the garment and textile sector was conducted and found that the Operating Ratio, Return on Assets, Operating Income Ratio, and Current Ratio still need improvement by developing strategies to achieve the targets. Sensitivity analysis was also employed to assess the resilience of the model in response to alterations in data.

Conveying the products to the customers under optimized circumstances is as crucial for the companies as the production itself. One optimization strategy to consider is transportation with the minimum quantity of vehicles and the selection of courses with the minimum distance between the locations. In other words, it is the examination of the solution to the Vehicle Routing Problem (VRP), particularly the Capacitated VRP (CVRP), which is a more realistic modelization approach. For businesses that perform distribution to customers frequently, such as management work with the coordination of daily distribution, finishing the distribution on time is of great importance. In big cities with complicated roads and many dropping points, this can be achieved by benefiting from the systematic modeling of the CVRP. In this study, the delivery network investigation for one production facility of the Istanbul People's Bread positioned on the Asian side of Istanbul, Türkiye that distributes three times a day will be the focus of interest. The corresponding Asymmetric CVRP (ACVRP) for the facility network and 215 bread-selling buffets with authentic driving distances will be solved with the Genetic Algorithm (GA), and an optimized transportation network will be presented.

In this study, an Economic Return Quantity (ERQ) model for the Empty Container Reposition (ECR) problem using the reverse logistics (RL) approach is developed. Some of the model’s primary considerations are the return rate that depends on the quantity and quality of the empty container, and the capacity constraints to hold the empty container in the port. The model of ERQ is optimized using an analytical approach. Based on the result of the hypothetical case, the authors examined that the acceptable quality level of reusable containers should be set at 67%, 55%, and 50% for the three types of containers to be able to obtain minimum inventory costs. Two cases of binding and nonbinding constraints are investigated, and it is found that the binding constraint gives 3.4% higher cost than the latter. The results of this study help the container depots to plan, manage, and handle empty containers so that the container utility can be increased, and inventory costs can be minimized.

The poor maintenance and usage of the equipment and machines of a vegetable oil manufacturing company adversely affect its competitive advantage. These industries are faced with numerous equipment maintenance challenges in the path to increasing their throughput as well as profitability. To address the said maintenance challenges, process data were obtained for the Overall Equipment Effectiveness (OEE) factors after their Total Productive Maintenance (TPM) implementation in the company. Minitab 21 software was used to analyze the data collected, and the results showed that the mean for quality, availability, and performance obtained were 96.929%, 63.35%, and 61.20%, respectively. This shows that the quality of products is the greatest OEE factor that vegetable oil manufacturing companies must consider meticulously to reduce the six big losses in their production processes. Response Surface Method (RSM) with Central Composite design, with the application of Design Expert 13 software, was used to model, analyze, and optimize the Overall Equipment Effectiveness (OEE) using availability, quality, and performance as the input parameters. The analysis of both the actual and coded values, which is the main contribution of the study, showed that quality has the greatest value followed by availability and performance. It was found that, to effectively reduce the six big losses, the quality, performance, and availability should be targeted as 98.3052%, 81.6022%, and 80.103%, respectively.

Over time, the number of smart grids installed worldwide is gradually increasing. However, the major portion of the required electricity is still being produced by traditional large-scale and centralized power systems. The main requirement, then, is to study and develop mathematical methods that attend the integration between the two systems previously announced. In this paper, a novel model that addresses this issue is presented. The model minimizes the total operating cost of the large-scale system considering the participation of the smart grid as a dynamic entity, entailing a close relationship between both systems. This approach distinguishes the novel proposal from others that solve similar situations by taking into account the two systems in isolation. Besides, the models that represent the most common organizational structures of the smart grids are also presented in this paper. They are needed to develop the integrated model. Many similar problems in the literature are solved by implementing decomposition techniques, which might obtain a local optimum different from the global one. By contrast, problems with this proposal are solved by using mixed-integer linear programming models that ensure the reaching of a global optimum. The real test case is the integrated Argentine large-scale system and the Armstrong smart grid. Results indicate that the novel model can reach solutions that are 5% lower in comparison with the traditional techniques of considering in isolation. Efficient CPU times enable the possibility of promptly obtaining solutions if there is any change in the parameters. In addition, other benefits, apart from the economical reductions, are also achieved. Operating information closer to the reality of both systems is obtained because it considers the effects of the smart grid in large-scale system solving.

The purpose of the loop layout problem is to determine the optimal sequence for operations by giving a cyclical arrangement of the machines along a given route. Calculating the initial cost of processes is critical in general. Additionally, these expenses can be reduced by proposing an alternate flow for the system's components. It has been observed that machines at gyms are utilized in accordance with a certain program, and so they require the optimal arrangement to accommodate these programs. In this study, the best cyclical arrangement of the machines in a gym was determined using an intuitive method. Customers enrolled in various training programs will be required to change machines in accordance with the sequence of the machines in their training program. The purpose of this study is to determine the optimal layout of these machines in order to alleviate gym traffic congestion and provide a more intuitive movement plan for consumers. The purpose is to build a layout plan that minimizes backward movement using an objective function created from the positions of the machines in the training programs, the number of customers who use these programs, and the frequency with which the machines appear in multiple programs. For the first time in gyms, an effective solution to the machine layout problem has been proposed using an optimization approach.