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

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.

Sustainable optimal ordering quantity for non-instantaneous deteriorating items under joint replenishment with substitution and carbon emission

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ranu Singh ◽  
Vinod Kumar Mishra
Keyword(s):  
Cost Function ◽  
Carbon Emission ◽  
Inventory Model ◽  
Deteriorating Items ◽  
Joint Replenishment ◽  
Content Type ◽  
Total Cost ◽  
Optimal Ordering ◽  
Ordering Quantity ◽  
Total Cost Function

Purpose Carbon emission is a significant issue for the current business market and global warming. Nowadays, most countries have focused to reduce the environmental impact of business with durable financial benefits. The purpose of this study is to optimize the entire cost functions with carbon emission and to find the sustainable optimal ordering quantity for retailers. Design/methodology/approach This paper illustrates a sustainable inventory model having a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. In this model demand and deterioration rate are considered as deterministic, constant and triangular fuzzy numbers. The objective is to find the optimal ordering quantity for retailers and to minimize the total cost function per unit time with carbon emission. The model is then solved with the help of Maple software. Findings This paper presents a solution method and also develop an algorithm to determine the order quantities which optimize the total cost function. A numerical experiment illustrates the improvement in optimal total cost of the inventory model with substitution over without substitution. The graphical results show the convexity of the cost function. Finally, sensitivity analysis is given to get the impact of parameters and validity of the model. Originality/value This study considers a set of two non-instantaneous substitutable deteriorating items under joint replenishment with carbon emission. From the literature review, in the authors’ knowledge no researcher has undergone this kind of study.

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.

scholarly journals A Fuzzy type Backlogging Production Inventory Model for Perishable Items with Time Dependent Exponential Demand Rate

2021 ◽  
Vol 33 (4) ◽  
pp. 51-65
Author(s):  
SUSHIL KUMAR ◽  
Keyword(s):  
Inventory Model ◽  
Time Dependent ◽  
Planning And Scheduling ◽  
Perishable Items ◽  
Economic Production ◽  
Production Inventory ◽  
Demand Rate ◽  
Total Profit ◽  
Epq Model ◽  
Production Quantity

Production inventory models have an important role in production planning and scheduling. In any economic production quantity (EPQ) model, the production rate is dependent on demand. In this paper we have established a production inventory model for perishable items with partial backlogging and time dependent exponential demand rate. Allowing shortage, it is partially backlogged. The unsatisfied demand is backlogged and it is considered a function of waiting time. The aim of our study is to optimizing the total profit during a given cycle. A numerical example is given in showing the applicability of the developed model.

scholarly journals An inventory model for deteriorating items under time varying demand condition

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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