An EPQ Model for Delayed Deteriorating Items with Two-Phase Production Period, Variable Demand Rate and Linear Holding Cost

In this paper, we develop an inventory model for non-instantaneous deteriorating items under the consideration of the facts: deterioration rate can be controlled by using the preservation technology (PT) during deteriorating period, and holding cost and demand rate both are linear function of time, which was treated as constant in most of the deteriorating inventory models. So in this paper, we developed a deterministic inventory model for non-instantaneous deteriorating items in which both demand rate and holding cost are a linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total cost of the inventory system. The model can be applied to optimizing the total inventory cost of non-instantaneous deteriorating items inventory for the business enterprises, where the preservation technology is used to control the deterioration rate, and demand & holding cost both are a linear function of time.

Download Full-text

Two Warehouse Inventory Model for Deteriorating Items with Ramp Type Demand and Price Discount on Backorders

Journal of Scientific Research ◽

10.3329/jsr.v13i2.50000 ◽

2021 ◽

Vol 13 (2) ◽

pp. 455-465

Author(s):

S. Chandra

Keyword(s):

Fruits And Vegetables ◽

Inventory Model ◽

Deteriorating Items ◽

Price Discount ◽

Total Cost ◽

Deterioration Rate ◽

Ordering Policy ◽

Demand Rate ◽

Holding Cost ◽

Ramp Type Demand

In this paper, a two warehouse inventory model for deteriorating items is studied with ramp type demand rate. Holding cost of rented warehouse has higher than the owned warehouse due to better preservation facilities in rented warehouse. Due to the improved services offer in rented warehouse, the deterioration rate in rented warehouse is less than deterioration rate in owned warehouse. When stock on hand is zero, the inventory manager offers a price discount to customers who are willing to backorder their demand. The study includes some features that are likely to be associated with certain types of inventory, like inventory of seasonal fruits and vegetables, newly launched fashion items, etc. The optimum ordering policy and the optimum discount offered for each backorder are determined by minimizing the total cost in a replenishment interval.

Download Full-text

An EPQ model for delayed deteriorating items with quadratic demand and linear holding cost

OPSEARCH ◽

10.1007/s12597-019-00404-0 ◽

2019 ◽

Vol 57 (1) ◽

pp. 46-72

Author(s):

S. Dari ◽

B. Sani

Keyword(s):

Deteriorating Items ◽

Holding Cost ◽

Epq Model

Download Full-text

PERISHABLE INVENTORY MODEL WITH FINITE RATE OF REPLENISHMENT HAVING GENERALIZED PARETO DECAY

EPRA International Journal of Multidisciplinary Research (IJMR) ◽

10.36713/epra3130 ◽

2020 ◽

pp. 426-437

Author(s):

Dr. Kousar Jaha Begum ◽

Dr. K.Suryanarayana Rao ◽

Dr. Shaik Shamshuddin ◽

Dr. Haniefuddin Shaik

Keyword(s):

Generalized Pareto Distribution ◽

Inventory Model ◽

Deteriorating Items ◽

Numerical Illustration ◽

Generalized Pareto ◽

Demand Rate ◽

Total Profit ◽

Epq Model ◽

Optimal Ordering ◽

Ordering Quantity

In this paper an EPQ model for deteriorating items is developed and analyzed an inventory model for deteriorating items with the assumptions that the lifetime of the community is random and follows a Generalized Pareto distribution, having constant demand rate with shortages. The total cycle length in this model is divided into our non-over lapping intervals depending on the decrease of stock. Assuming that shortages are allowed and fully back backlogged, the differential equations governing the instantaneous state of inventory are developed and solved for I(t). The loss due to deterioration, the total backlogged demand, the ordering quantity is also derived with suitable cost consideration. The total profit per unit time is developed and optimized with respect to the time at which production is to be started, time at which shortages occur, the time at which production is to be restated. The optimal ordering quantity, Q is also obtained for given values of the parameters. A numerical illustration is presented. This model also includes some of the earlier models as particular cases for specific values of the parameters. KEYWORDS: Random Replenishment; Generalized Pareto Decay; Constant Demand; Shortages.

Download Full-text