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Sustainable Mathematical Modelling in Business Analysis
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Sustainable Mathematical Modelling in Business Analysis

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Sustainability and Finance".

Deadline for manuscript submissions: closed (31 March 2023) | Viewed by 18085

Special Issue Editor

Prof. Dr. Hari Mohan Srivastava

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Guest Editor
Department of Mathematics and Statistics, University of Victoria, Victoria, BC V8W 3R4, Canada
Interests: real and complex analysis; fractional calculus and its applications; integral equations and transforms; higher transcendental functions and their applications; q-series and q-polynomials; analytic number theory; analytic and geometric Inequalities; probability and statistics; inventory modeling and optimization
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The mathematical modeling of real-world problems can enhance decision-making capabilities in order to achieve an optimal strategy in a competitive business environment. Generally speaking, the issues of environment and usage of natural resources are extremely significant to reduce environmental pollution, global warming, and unnecessary consumption of limited resources. In this context, environmentally sustainable mathematical modeling can augment the learning and representation of patterns and structure of the data linked with various challenging problems. The idea of green management and operations is to enhance environmental sustainability. Identification, characterization, and business analysis using mathematical models help decision-makers to obtain optimal strategies to tackle complex problems. This Special Issue searches for challenging applied and methodological papers which emphasize on, but are not limited to, the following topics:

  • Business analytics;
  • Risk supply chain management and marketing;
  • Production planning and control: Green manufacturing, waste reduction, recycling, and remanufacturing;
  • Sustainable inventory control and management;
  • Disaster management;
  • Healthcare;
  • Environmental sciences, energy and power systems;
  • Transportation and logistics;
  • Corporate social responsibility;
  • Dynamical system analysis of problems related to agriculture and aquaculture.

This Special Issue welcomes high-quality submissions by researchers around the world.

Prof. Dr. Hari Mohan Srivastava
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

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Published Papers (5 papers)

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Research

19 pages, 447 KiB  
Article
A Fuzzy Imperfect Production Inventory Model Based on Fuzzy Differential and Fuzzy Integral Method
by Amalesh Kumar Manna, Leopoldo Eduardo Cárdenas-Barrón, Jayanta Kumar Dey, Shyamal Kumar Mondal, Ali Akbar Shaikh, Armando Céspedes-Mota and Gerardo Treviño-Garza
J. Risk Financial Manag. 2022, 15(6), 239; https://doi.org/10.3390/jrfm15060239 - 27 May 2022
Cited by 9 | Viewed by 3578
Abstract
In the inventory theory, to treat the uncertainty, the fuzzy set concept is used in order to provide a feasible approach to deal with the uncertainty problem. In this research work, a fuzzy economic production quantity model with interactive fuzzy demands is proposed. [...] Read more.
In the inventory theory, to treat the uncertainty, the fuzzy set concept is used in order to provide a feasible approach to deal with the uncertainty problem. In this research work, a fuzzy economic production quantity model with interactive fuzzy demands is proposed. In a production process, in the beginning, the system is assumed to be in a controlled state in which only perfect items are manufactured. Later, the manufacturing production process shifts to be an out-of-control-state system; producing both perfect and imperfect items simultaneously, this is considered as a fuzzy state. The defective production rate is also taken into account as a fuzzy state. Here, the selection process of produced items is realized during the production period. With the aim of studying the practical feasibility of the fuzzy economic production inventory model along with a sensitivity analysis of some parameters, different numerical examples are illustrated. Full article
(This article belongs to the Special Issue Sustainable Mathematical Modelling in Business Analysis)
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13 pages, 735 KiB  
Article
Optimal Returns in Indian Stock Market during Global Pandemic: A Comparative Study
by Pradip Debnath and Hari Mohan Srivastava
J. Risk Financial Manag. 2021, 14(12), 592; https://doi.org/10.3390/jrfm14120592 - 8 Dec 2021
Cited by 4 | Viewed by 2792
Abstract
This research is an extension of our previous work [Debnath and Srivastava (2021)]. In that paper, we designed a portfolio based on data taken from National Stock Exchange (NSE), India, during 1 January 2020 to 31 December 2020 and performance of that portfolio [...] Read more.
This research is an extension of our previous work [Debnath and Srivastava (2021)]. In that paper, we designed a portfolio based on data taken from National Stock Exchange (NSE), India, during 1 January 2020 to 31 December 2020 and performance of that portfolio in real-life situation was examined during 1 January 2021 to 21 May 2021 assuming investments were made according to the proposed model. We observed that our proposed portfolio was efficient enough in that period to beat the performance of most of the in-demand mutual funds. It was also conjectured that this portfolio would be sustainable post the second wave of COVID-19 in India. In the present paper, our aim is to validate this conjecture. Here, we examine the performance of this portfolio during the period 1 January 2021 to 18 October 2021 using the same previous data set. We also investigate the performance of this portfolio if it was blindly adopted without applying the stock selection methodology during 1 January 2019 to 31 December 2019. Using paired t-test between the difference of means of the performances in the year 2019 and the year 2021, we show that the performance in 2021 was significantly enhanced because of selecting the stocks applying our proposed model. Full article
(This article belongs to the Special Issue Sustainable Mathematical Modelling in Business Analysis)
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20 pages, 422 KiB  
Article
An Imperfect Production Model for Breakable Multi-Item with Dynamic Demand and Learning Effect on Rework over Random Planning Horizon
by Amalesh Kumar Manna, Leopoldo Eduardo Cárdenas-Barrón, Barun Das, Ali Akbar Shaikh, Armando Céspedes-Mota and Gerardo Treviño-Garza
J. Risk Financial Manag. 2021, 14(12), 574; https://doi.org/10.3390/jrfm14120574 - 29 Nov 2021
Cited by 4 | Viewed by 3104
Abstract
In recent times, in the literature of inventory management there exists a notorious interest in production-inventory models focused on imperfect production processes with a deterministic time horizon. Nevertheless, it is well-known that there is a high influence and impact caused by the learning [...] Read more.
In recent times, in the literature of inventory management there exists a notorious interest in production-inventory models focused on imperfect production processes with a deterministic time horizon. Nevertheless, it is well-known that there is a high influence and impact caused by the learning effect on the production-inventory models in the random planning horizon. This research work formulates a mathematical model for a re-workable multi-item production-inventory system, in which the demand of the items depends on the accessible stock and selling revenue. The production-inventory model allows shortages and these are partial backlogged over a random planning horizon. Also, the learning effect on the rework policy, inflation, and the time value of money are considered. The main aim is to determine the optimum production rates that minimize the expected total cost of the multi-item production-inventory system. A numerical example is solved and a detailed sensitivity analysis is conducted in order to study the production-inventory model. Full article
(This article belongs to the Special Issue Sustainable Mathematical Modelling in Business Analysis)
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16 pages, 996 KiB  
Article
A Discount Technique-Based Inventory Management on Electronics Products Supply Chain
by Md. Sujan Miah, Md. Mominul Islam, Mahmudul Hasan, Abu Hashan Md. Mashud, Dipa Roy and Shib Sankar Sana
J. Risk Financial Manag. 2021, 14(9), 398; https://doi.org/10.3390/jrfm14090398 - 25 Aug 2021
Cited by 5 | Viewed by 3310
Abstract
Inventory management is becoming very challenging for the retailer over the years due to the uncertainty in the demand and supply of products in financial risk and management systems. In a competitive market, running a business smoothly in a highly suitable place is [...] Read more.
Inventory management is becoming very challenging for the retailer over the years due to the uncertainty in the demand and supply of products in financial risk and management systems. In a competitive market, running a business smoothly in a highly suitable place is day by day becoming tough due to the very high fare for those locations. Thus, limited storage is available in those elite places with high fares, and a retailer takes a financial risk by stocking huge amounts of products in those limited storage stores. Thus, the appropriate financial analysis is required to find out optimal strategies (financial decisions) to sustain a business organization of electronic products in a global competitive business environment. As a result, when bulk purchases of electronic products, for example, T.V., Fridges, Oven, etc., have been made by the retailer, he faces two problems. The first one is related to the limited storage; as a result, he has to pay a considerable amount to hold the products for a long time. The second one is shortages of liquid money as he invested massive amounts. To avoid these problems, he offers some price discounts on the market’s original selling price to sell the products quickly for a limited time prior to recovering his capital investment. For that reason, a price, time, and stock dependent realistic demand function have been considered in this proposed paper with two modes of discount policy. The proposed model has been solved by a classical optimization technique from calculus and provides some insights for the retailer. Some numerical examples and graphs are provided to illustrate the model. Full article
(This article belongs to the Special Issue Sustainable Mathematical Modelling in Business Analysis)
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21 pages, 2351 KiB  
Article
A Sustainable Economic Recycle Quantity Model for Imperfect Production System with Shortages
by Ali AlArjani, Md. Maniruzzaman Miah, Md. Sharif Uddin, Abu Hashan Md. Mashud, Hui-Ming Wee, Shib Sankar Sana and Hari Mohan Srivastava
J. Risk Financial Manag. 2021, 14(4), 173; https://doi.org/10.3390/jrfm14040173 - 10 Apr 2021
Cited by 16 | Viewed by 3209
Abstract
Recycling of products has a great impact on contemporary sustainable business strategies. In this study, a sustainable recycling process in a production-inventory model for an imperfect production system with a fixed ratio of recyclable defective products is introduced. The piecewise constant demand rates [...] Read more.
Recycling of products has a great impact on contemporary sustainable business strategies. In this study, a sustainable recycling process in a production-inventory model for an imperfect production system with a fixed ratio of recyclable defective products is introduced. The piecewise constant demand rates of the non-defective items are considered under production run-time, production off-time with positive stock, and production off-time with shortages under varying conditions. Based on the production process, two cases are studied using this model. The first case does not consider recycling processes, while the second case picks up all defective items before sending these items to recycling during the production off-time; the recycled items are added to the main inventory. The aim of this study is to minimize the total cost and identify the optimal order quantity. The manufacturing process with the recycling process provides a better result compared to without recycling in the first case. Some theoretical derivations are developed to enunciate the objective function using the classical optimization technique. To validate the proposed study, sensitivity analysis is performed, and numerical examples are given. Finally, some managerial insights and the scope of future research are provided. Full article
(This article belongs to the Special Issue Sustainable Mathematical Modelling in Business Analysis)
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