A probabilistic inventory model for deteriorating items with lead time equal to one scheduling period

1982 ◽  
Vol 9 (3) ◽  
pp. 281-285 ◽  
Author(s):  
Upendra Dave ◽  
Y.K. Shah
Keyword(s):  
Lead Time ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Probabilistic Inventory Model

scholarly journals Inventory model for deteriorating items with negative exponential demand, probabilistic deterioration and fuzzy lead time under partial back logging

2020 ◽  
Vol 30 (3) ◽  
Author(s):  
Nabendu Sen ◽  
Sumit Saha
Keyword(s):  
Inventory Management ◽  
Lead Time ◽  
Probability Distributions ◽  
Optimal Strategies ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Optimal Time ◽  
Inventory Cost ◽  
Total Inventory ◽  
Negative Exponential

The effect of lead time plays an important role in inventory management. It is also important to study the optimal strategies when the lead time is not precisely known to the decision makers. The aim of this paper is to examine the inventory model for deteriorating items with fuzzy lead time, negative exponential demand, and partially backlogged shortages. This model is unique in its nature due to probabilistic deterioration along with fuzzy lead time. The fuzzy lead time is assumed to be triangular, parabolic, trapezoidal numbers and the graded mean integration representation method is used for the defuzzification purpose. Moreover, three different types of probability distributions, namely uniform, triangular and Beta are used for rate of deterioration to find optimal time and associated total inventory cost. The developed model is validated numerically and values of optimal time and total inventory cost are given in tabular form, corresponding to different probability distribution and fuzzy lead-time. The sensitivity analysis is performed on variation of key parameters to observe its effect on the developed model. Graphical representations are also given in support of derived optimal inventory cost vs. time.

The (S-1, S) Inventory Model for Deteriorating Items with Exponential Lead Time

1989 ◽  
Vol 38 (1-2) ◽  
pp. 83-92 ◽  
Author(s):  
Manisha Pal
Keyword(s):  
Exponential Distribution ◽  
Lead Time ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Expected Cost ◽  
Constant Rate ◽  
Rate Of Decay

This paper considers an inventory model for items with a constant rate of decay, when lead time is random having an exponential distribution. The policy is to place an order with a supply centre whenever a demand is made or an item in stock deteriorates. The optimal stock to be maintained is obtained by minimising the total expected cost per unit time.

scholarly journals An EOQ Model of Selling-Price-Dependent Demand for Non-Instantaneous Deteriorating Items during the Pandemic COVID-19

2021 ◽  
Vol 18 (12) ◽  
Author(s):  
Susanta Kumar INDRAJITSINGHA ◽  
Padmini RAULA ◽  
Padmanava SAMANTA ◽  
Umakanta MISRA ◽  
Lakshmi Kanta RAJU
Keyword(s):  
Lead Time ◽  
Graphical Representation ◽  
Dominant Role ◽  
Solution Procedure ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Selling Price ◽  
Eoq Model ◽  
Optimal Ordering ◽  
Dependent Demand

A pricing factor plays a dominant role in consumer behavior in most countries affected by the COVID19 pandemic. People have lost their job while others renegotiated for low-paying jobs during this pandemic. Thus, this article aims to develop a viable model to consider various aspects of the COVID19 pandemic. Here, we develop an optimal ordering quantity inventory model of deteriorating items, which are still in demand depending upon the selling price of the product. The items are assumed to be non-instantaneous deteriorating. The shortage is allowed in lead time and is partially backlogged. A solution procedure is presented to determine an optimal cycle, order quantity, and total average cost. A realistic numerical example is given to validate the proposed model by changing different systems of parameters, where sensitivity analysis has been carried out. The effectiveness of the system has been observed through graphical representation. HIGHLIGHTS The study considers the inventory model for non-instantaneous deteriorating items. Selling price dependent demand is incorporated. The shortage is allowed in lead time and is partially backlogged. Theoretical results have been formed to characterize the optimal solutions. The effect of key parameters is studies rigorously. GRAPHICAL ABSTRACT

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