Inventory Model: Deteriorating Items with Time-Dependent Deterioration Rate for Quadratic Demand Rate With Unit Production Cost and Shortage

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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Controllable deterioration rate for time-dependent demand and time-varying holding cost

Yugoslav journal of operations research ◽

10.2298/yjor120823018m ◽

2014 ◽

Vol 24 (1) ◽

pp. 87-98 ◽

Cited By ~ 10

Author(s):

Vinod Mishra

Keyword(s):

Linear Function ◽

Inventory Model ◽

Deteriorating Items ◽

Inventory Cost ◽

Deterioration Rate ◽

Preservation Technology ◽

Demand Rate ◽

Holding Cost ◽

Total Inventory ◽

Dependent Demand

In this paper, we develop an inventory model for non-instantaneous deteriorating items under the consideration of the facts: deterioration rate can be controlled by using the preservation technology (PT) during deteriorating period, and holding cost and demand rate both are linear function of time, which was treated as constant in most of the deteriorating inventory models. So in this paper, we developed a deterministic inventory model for non-instantaneous deteriorating items in which both demand rate and holding cost are a linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total cost of the inventory system. The model can be applied to optimizing the total inventory cost of non-instantaneous deteriorating items inventory for the business enterprises, where the preservation technology is used to control the deterioration rate, and demand & holding cost both are a linear function of time.

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Inventory Model with Exponential Time-Dependent Demand Rate, Variable Deterioration, Shortages and Production Cost

International Journal of Applied and Computational Mathematics ◽

10.1007/s40819-016-0185-4 ◽

2016 ◽

Vol 3 (2) ◽

pp. 1407-1419 ◽

Cited By ~ 1

Author(s):

R. P. Tripathi ◽

Sarla Pareek ◽

Manjit Kaur

Keyword(s):

Production Cost ◽

Inventory Model ◽

Time Dependent ◽

Exponential Time ◽

Demand Rate ◽

Dependent Demand Rate ◽

Dependent Demand

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A New Mathematical Inventory Model with Stochastic and Fuzzy Deterioration Rate under Inflation

Chinese Journal of Engineering ◽

10.1155/2014/347857 ◽

2014 ◽

Vol 2014 ◽

pp. 1-10 ◽

Cited By ~ 1

Author(s):

Bahar Naserabadi ◽

Abolfazl Mirzazadeh ◽

Sara Nodoust

Keyword(s):

Lead Time ◽

Inflation Rate ◽

Inventory Model ◽

Time Dependent ◽

Nonincreasing Function ◽

Deterioration Rate ◽

Fuzzy Function ◽

First Case ◽

Replenishment Policy ◽

Demand Rate

This paper develops an inventory model for items with uncertain deterioration rate, time-dependent demand rate with nonincreasing function, and allowable shortage under fuzzy inflationary situation. The goods are not deteriorating upon reception, but the deteriorating starts after elapsing a specified time. The lead time and inflation rate are both uncertain in the model. The resultant effect of inflation and time value of money is assumed to be fuzzy in nature and also we consider lead time as a fuzzy function of order quantity. Furthermore the following different deterioration rates have been considered: for the first case we consider fuzzy deterioration rate and for the second case we assume that the deterioration rate is time dependent and follows Weibull distribution with three known parameters. Since the inflation rate, deterioration rate, and the lead time are fuzzy numbers, the objective function becomes fuzzy. Therefore the estimate of total costs for each case is derived using signed distance technique for defuzzification. The optimal replenishment policy for the model is to minimize the total present value of inventory system costs, derived for both the above mentioned policies. Numerical examples are then presented to illustrate how the proposed model is applied.

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