Effect of salvage value on a two-warehouse inventory model for deteriorating items with stock-dependent demand rate and partial backlogging

Neeraj Kumar · S.R. Singh

11 citations0/0 files storedInternational Journal of Operational Research

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Supply Chain and Inventory Management Sustainable Supply Chain Management Optimization and Mathematical Programming

Abstract

In this study, an EOQ model with two level of storage is developed when units in inventory deteriorate at a constant rate and demand is stock dependent. The salvage value is allied to deteriorated units. When stock level exceeds the capability of own warehouse (OW), it is to be kept in additional rented warehouse (RW) with higher holding cost than OW. The inventory held in RW is transferred to OW in continuous release pattern till the stock in RW gets exhausted. In developing the model it is assumed that shortages are allowed and partially backlogged. An algorithm is given to find the optimal solution. The sensitivity analysis is voted for out to analyse the effect of critical parameters on optimal solution by using MATHEMATICA–5.2 for the feasibility and applicability of our model.

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References

2001Recent trends in modeling of deteriorating inventory 2005An optimal replenishment policy for non-instantaneous deteriorating items with stock-dependent demand and partial backlogging 1989An Inventory Model for Deteriorating Items and Stock-dependent Consumption Rate 1974A Generalized EOQ Model for Items with Weibull Distribution Deterioration 1995A deterministic lot-size inventory model for deteriorating items with shortages and a declining market 1983Production/Operations Management: Contemporary Policy for Managing Operating Systems 1987A deterministic order level inventory model for deteriorating items with two storage facilities 2003Two-warehouse inventory models for deteriorating items with shortages under inflation

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