Study of Memory Effect in an Inventory Model with Constant Deterioration Rate

2021 ◽  
Vol 10 (2) ◽  
pp. 229-243
Author(s):  
Rituparna Pakhira ◽  
Uttam Ghosh ◽  
Susmita Sarkar ◽  
Vishnu Narayan Mishra
Keyword(s):  
Memory Effect ◽  
Inventory Model ◽  
Deterioration Rate ◽  
Constant Deterioration

scholarly journals Two Warehouse Optimal Inventory Model for Non-Instantaneous Deteriorating Items

2018 ◽  
Vol 7 (4.10) ◽  
pp. 946
Author(s):  
K. Rangarajan ◽  
K. Karthikeyan
Keyword(s):  
Present Article ◽  
Inventory Model ◽  
Numerical Examples ◽  
Deterioration Rate ◽  
Ordering Policy ◽  
Stock Model ◽  
Optimal Ordering Policy ◽  
Optimal Ordering ◽  
Total Stock ◽  
Constant Deterioration

In this article, an optimal ordering policy for the stock model of items, whose deterioration starts after a certain period of time under the  dispatching policy Last in First Out (i.e. LIFO) in owned and rented warehouses is presented  with the demand of the product increases up to a certain point and that remains constant, deterioration rate which depends on time and  inflation.  The main aim of the present article is to find an optimal    inventory model, which minimizes the total stock cost. Finally, this model is analyzed through by numerical examples . 

scholarly journals Study of Memory Effect in an Inventory Model with Linear Demand and Shortage

2019 ◽  
Vol 5 (2) ◽  
pp. 54-70 ◽  
Author(s):  
Rituparna Pakhira ◽  
◽  
Uttam Ghosh ◽  
Susmita Sarkar
Keyword(s):  
Memory Effect ◽  
Inventory Model ◽  
Linear Demand

scholarly journals Inventory and preservation investment for deteriorating system with stock-dependent demand and partial backlogged shortages

2020 ◽  
pp. 38-38
Author(s):  
Nita Shah ◽  
Kavita Rabari ◽  
Ekta Patel
Keyword(s):  
Sensitivity Analysis ◽  
Total Cost ◽  
Deterioration Rate ◽  
Preservation Technology ◽  
Decision Variables ◽  
Stock Dependent Demand ◽  
Rate Controlled ◽  
Financial Losses ◽  
Constant Deterioration ◽  
Dependent Demand

Our model deals with the stock-dependent demand as exhibiting huge volume of commodities leads to more costumers and augment the trading of the goods. As some goods like vegetables, fruits, medicines deteriorate after a period of time, resulting in economical and financial losses, we took this factor into consideration and included a constant deterioration rate, controlled by suitable preservation technologies. Preservation technology investments are made for the valuable business as it helps to decrease the rate of deterioration. Our model allows shortages, and back-ordering is permissible to manage the loss that occurs due to perishable objects and shortages. The objectives are to find the optimal cycle time, preservation technology cost, and positive inventory time. The paper also proves the convexity of total cost through graphs with respect to decision variables. A sensitivity analysis of decision variables with respect to different inventory parameters is carried out.

Study of memory effect in an inventory model with quadratic type demand rate and salvage value

2019 ◽  
Vol 13 (5) ◽  
pp. 209-223 ◽  
Author(s):  
Rituparna Pakhira ◽  
Uttam Ghosh ◽  
Susmita Sarkar
Keyword(s):  
Memory Effect ◽  
Inventory Model ◽  
Demand Rate

An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit

2019 ◽  
Vol 53 (3) ◽  
pp. 903-916 ◽  
Author(s):  
Ali Akbar Shaikh ◽  
Leopoldo Eduardo Cárdenas–Barrón ◽  
Asoke Kumar Bhunia ◽  
Sunil Tiwari
Keyword(s):  
Trade Credit ◽  
Inventory Model ◽  
Selling Price ◽  
Credit Policy ◽  
Variable Demand ◽  
Reduced Gradient Method ◽  
Deterioration Rate ◽  
Rate Dependent ◽  
Reduced Gradient ◽  
Generalized Reduced Gradient

This paper develops an inventory model for a deteriorating item with variable demand dependent on the selling price and frequency of advertisement of the item under the financial trade credit policy. Shortages are allowed and these are partially backlogged with a variable rate dependent on the duration of waiting time until to the arrival of next order. In this inventory model, the deterioration rate follows a three-parameter Weibull distribution. The corresponding inventory model is formulated and solved by using the well-known generalized reduced gradient method along with an algorithm. To validate the inventory model, two numerical examples are considered and solved. Finally, based on one numerical example, the impacts of different parameters are studied by a sensitivity analysis considering one parameter at a time and leaving the other parameters fixed.

An Optimal Inventory Policy for Items Having Constant Demand and Constant Deterioration Rate with Trade Credit

2012 ◽  
Vol 5 (2) ◽  
pp. 89-95 ◽  
Author(s):  
R. P. Tripathi ◽  
S. S. Misra
Keyword(s):  
Trade Credit ◽  
Optimal Order ◽  
Order Quantity ◽  
Inventory Models ◽  
Inventory Policy ◽  
Deterioration Rate ◽  
Optimal Order Quantity ◽  
Optimal Ordering ◽  
Constant Deterioration ◽  
Ordering Quantity

In most of the classical inventory models the demand is considered as constant. In this paper the model has been framed to study the items whose demand and deterioration both are constant. The authors developed a model to determine an optimal order quantity by using calculus technique of maxima and minima. Thus, it helps a retailer to decide its optimal ordering quantity under the constraints of constant deterioration rate and constant pattern of demand.

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