Development of new hybrid discrete-time perishable inventory model based on Weibull distribution with time-varying demand using system dynamics approach

In this paper, an EOQ inventory model is depleted not only by time varying demand but also by Weibull distribution deterioration, in which the inventory is permitted to start with shortages and end without shortages. A theory is developed to obtain the optimal solution of the problem; it is then illustrated with the aid of several numerical examples. Moreover, we also assume that the holding cost is a continuous, non-negative and non-decreasing function of time in order to extend the EOQ model. Finally, sensitivity of the optimal solution to changes in the values of different system parameters is also studied.

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EOQ inventory model for items with Weibull distribution deterioration, time-varying demand and partial backlogging

International Journal of Systems Science ◽

10.1080/00207720110102575 ◽

2002 ◽

Vol 33 (5) ◽

pp. 323-329 ◽

Cited By ~ 17

Author(s):

Kun-Shan Wu

Keyword(s):

Weibull Distribution ◽

Inventory Model ◽

Time Varying ◽

Partial Backlogging ◽

Varying Demand ◽

Weibull Distribution Deterioration

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An Ordering Policy for Deteriorating and Weibull Ameliorating items with Time-Varying Demand and Partial Backlogging

10.47260/jcomod/1031 ◽

2020 ◽

pp. 1-13

Author(s):

Biswaranjan Manda

Keyword(s):

Weibull Distribution ◽

Optimal Solution ◽

Fixed Time ◽

Inventory Model ◽

Time Varying ◽

Partial Backlogging ◽

Marginal Value ◽

Ordering Policy ◽

Demand Rate ◽

Varying Demand

Deterioration means decay, evaporation, and obsolescence, loss of quality or marginal value of a commodity. Obviously, deterioration decreases the usefulness of the good from its original condition. Again we know the longer the goods which are kept in inventory, the higher the deteriorating cost. Pertinently there are few research papers dealing with the inventory model under the environment of Amelioration of items. The present paper deals with an inventory model for both ameliorating and deteriorating items. The amelioration rate follows the Weibull distribution and the time-varying demand rate is assumed as over a fixed time horizon and shortages which is partially backlogged. Finally the model is illustrated with the help of a numerical example, some particular cases are derived and the sensitivity analysis of the optimal solution towards the changes in the values of different parameters is also studied. Subject classification: AMS Classification No. 90B05, 97M40. Key Words: Inventory, Deteriorating, Ameliorating, Weibull distribution, Timevarying demand, Shortages, and Partial backlogging.

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An inventory model for deteriorating items under time varying demand condition

INTERNATIONAL JOURNAL OF MANAGEMENT & INFORMATION TECHNOLOGY ◽

10.24297/ijmit.v8i1.691 ◽

2013 ◽

Vol 8 (1) ◽

pp. 1273-1278

Author(s):

Srichandan Mishra ◽

S.P. Mishra ◽

N. Mishra ◽

J. Panda

Keyword(s):

Time Horizon ◽

Cost Minimization ◽

Inventory Model ◽

Deteriorating Items ◽

Time Varying ◽

Infinite Time ◽

Infinite Time Horizon ◽

Demand Rate ◽

Demand Condition ◽

Varying Demand

In this paper we discuss the development of an inventory model for deteriorating items which investigates an instantaneous replenishment model for the items under cost minimization. A time varying type of demand rate with infinite time horizon, exponential deterioration and with shortage in considered. The result is illustrated with numerical example.

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