scholarly journals A production inventory model with deteriorating items and shortages

2004 ◽  
Vol 14 (2) ◽  
pp. 219-230 ◽  
Author(s):  
G.P. Samanta ◽  
Ajanta Roy
Keyword(s):  
Cycle Time ◽  
Production Control ◽  
Continuous Production ◽  
Optimal Solution ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Production Cycle ◽  
Stock Level ◽  
Deterioration Rate ◽  
Time Sensitivity

A continuous production control inventory model for deteriorating items with shortages is developed. A number of structural properties of the inventory system are studied analytically. The formulae for the optimal average system cost, stock level, backlog level and production cycle time are derived when the deterioration rate is very small. Numerical examples are taken to illustrate the procedure of finding the optimal total inventory cost, stock level, backlog level and production cycle time. Sensitivity analysis is carried out to demonstrate the effects of changing parameter values on the optimal solution of the system.

scholarly journals A Fuzzy Production Inventory Model for Deteriorating Items with Shortages

2021 ◽  
Vol 8 (5) ◽  
pp. 140-146
Author(s):  
Ayan Chakraborty ◽  
Srabani Shee ◽  
Tripti Chakrabarti
Keyword(s):  
Optimal Solution ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Production Cycle ◽  
Distance Method ◽  
Stock Level ◽  
Deterioration Rate ◽  
Production Inventory ◽  
Average System ◽  
Optimal Average

In this paper we have developed a supply chain production inventory model for deteriorating items with shortage under Fuzzy environment. The formulae for the optimal average system cost, stock level, backlog level and production cycle time are derived when the deterioration rate is very small. In reality it is seen that we cannot define all parameters precisely due to imprecision or uncertainty in the environment. So, we have defined the inventory parameter deterioration rate as triangular fuzzy numbers. The signed distance method and graded mean integration method have been used for defuzzification. Numerical examples are taken to illustrate the procedure of finding the optimal total inventory cost, stock level and backlog level. Sensitivity analysis is carried out to demonstrate the effects of changing parameter values on the optimal solution of the system.

scholarly journals A Deterministic Inventory Model of Deteriorating Items with Two Rates of Production, Shortages, and Variable Production Cycle

2011 ◽  
Vol 2011 ◽  
pp. 1-16 ◽  
Author(s):  
Jhuma Bhowmick ◽  
G. P. Samanta
Keyword(s):  
Production Control ◽  
Continuous Production ◽  
Decision Rules ◽  
Optimal Solution ◽  
Inventory Model ◽  
Optimal Decision ◽  
Inventory Level ◽  
Production Cycle ◽  
Demand Rate ◽  
Variable Production

A Continuous production control inventory model is developed for a deteriorating item having shortages and variable production cycle. It is assumed that the production rate is changed to another at a time when the inventory level reaches a prefixed level and continued until the inventory level reaches the level . The demand rate is assumed to be constant, and the production cycle T is taken as variable. The production is started again at a time when the shortage level reaches a prefixed quantity . For this model, the total cost per unit time as a function of , , S, and T is derived. The optimal decision rules for , , S, and T are computed. The sensitivity of the optimal solution towards changes in the values of different system parameters is also studied. Results are illustrated by numerical examples.

scholarly journals Production inventory model for controllable deterioration rate with shortages

2019 ◽  
Author(s):  
Umakanta Mishra ◽  
Jacobo Tijerina-Aguilera ◽  
Sunil Tiwari ◽  
Leopoldo Eduardo Cárdenas-Barrón
Keyword(s):  
Optimal Solution ◽  
Solution Procedure ◽  
Inventory Model ◽  
Production Cycle ◽  
Proper Solution ◽  
Deterioration Rate ◽  
Preservation Technology ◽  
Production Policy ◽  
Production Inventory ◽  
Theoretical Results

This paper deals with an economic production quantity (EPQ) inventory model for deteriorating items under preservation technology. The preservation technology is used to protect the items from deterioration. Three different production levels are considered. It is assumed that initially the production rate is at lower rate and it increases gradually over the period. This is just in order to reduce the holding cost by avoiding the larger stock quantity in the beginning of production cycle. The shortages are permitted and fully backordered. The objective of the production inventory model is to determine optimal production policy which minimizes the manufacturer’s total cost. Theoretical results are established in order to demonstrate the existence of the optimal solution and a proper solution procedure is presented. A numerical example and a sensitivity analysis are presented to validate the theoretical results. Also, some managerial insights are provided.

THE OPTIMAL CYCLE TIME FOR DETERIORATING ITEMS WITH LIMITED STORAGE CAPACITY UNDER PERMISSIBLE DELAY IN PAYMENTS

2006 ◽  
Vol 23 (03) ◽  
pp. 347-370 ◽  
Author(s):  
KUN-JEN CHUNG ◽  
TIEN-SHOU HUANG
Keyword(s):  
Cycle Time ◽  
Storage Capacity ◽  
Transportation Cost ◽  
Deteriorating Items ◽  
Inventory Models ◽  
Permissible Delay In Payments ◽  
Continuous Release ◽  
Deterioration Rate ◽  
Holding Cost ◽  
Delay In Payments

Inventory models with deteriorating items have received considerable attention in recent years. In considering the deteriorating inventory with permissible delay in payments, most researchers pay attention to a single warehouse. Under conditions of permissible delay in payments, this paper develops a model to determine the optimal cycle time for a single deteriorating item that is stored in two different warehouses. A rented warehouse (RW) is used to store the excess units over the fixed capacity W of the owned warehouse (OW). The rented warehouse is assumed to charge higher unit holding cost than the OW. In this paper, we propose a two-warehouse inventory model for deteriorating items under permissible delay in payments. It is assumed that the deterioration rate in RW is the same as in OW, and the holding cost in RW is greater than that in OW. The stocks of RW are transported to OW in continuous release pattern and the transportation cost is ignored. Three theorems are developed to determine the optimal cycle time and numerical examples are given to illustrate these theorems.

scholarly journals Study of Inventory Model for Deteriorating Items With Exponential Demand Function

2016 ◽  
Vol 34 ◽  
pp. 89-100
Author(s):  
Manik Mondal ◽  
Mohammed Forhad Uddin ◽  
Kazi Anowar Hussain
Keyword(s):  
Opportunity Cost ◽  
Demand Function ◽  
Trade Credit ◽  
Unit Cost ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Bisection Method ◽  
Credit Policy ◽  
Deterioration Rate ◽  
Linear Demand

This paper develops an inventory model for deteriorating items consisting the ordering cost, unit cost, opportunity cost, deterioration cost and shortage cost. In this inventory model instead of linear demand function nonlinear exponential function of time for deteriorating items with deterioration rate has been considered. The formulated model has numerically solved by bisection method. The effects of inflation and cash flow are also taken into account under a trade-credit policy of discount with time. In order to validate the model, numerical examples have been solved by bisection method using Matlab. Further, the sensitivity of different parameters is considered in order to estimate the cash flow.GANIT J. Bangladesh Math. Soc.Vol. 34 (2014) 89-100

scholarly journals Two warehouse inventory model for deteriorating item with exponential demand rate and permissible delay in payment

2017 ◽  
Vol 27 (1) ◽  
pp. 109-124 ◽  
Author(s):  
Naresh Kaliraman ◽  
Ritu Raj ◽  
Shalini Chandra ◽  
Harish Chaudhary
Keyword(s):  
Sensitivity Analysis ◽  
Inventory Model ◽  
Deteriorating Items ◽  
The Other ◽  
Inventory Cost ◽  
Numerical Illustration ◽  
Deterioration Rate ◽  
Permissible Delay In Payment ◽  
Demand Rate

A two warehouse inventory model for deteriorating items is considered with exponential demand rate and permissible delay in payment. Shortage is not allowed and deterioration rate is constant. In the model, one warehouse is rented and the other is owned. The rented warehouse is provided with better facility for the stock than the owned warehouse, but is charged more. The objective of this model is to find the best replenishment policies for minimizing the total appropriate inventory cost. A numerical illustration and sensitivity analysis is provided.

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