Order Level Inventory Models for Deteriorating Seasonable/Fashionable Products with Time Dependent Demand and Shortages

K. Skouri · Ioannis Konstantaras

31 citations0/0 files storedMathematical Problems in Engineering

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Supply Chain and Inventory Management Reliability and Maintenance Optimization Sustainable Supply Chain Management

Abstract

An order level inventory model for seasonable/fashionable products subject to a period of increasing demand followed by a period of level demand and then by a period of decreasing demand rate (three branches ramp type demand rate) is considered. The unsatisfied demand is partially backlogged with a time dependent backlogging rate. In addition, the product deteriorates with a time dependent, namely, Weibull, deterioration rate. The model is studied under the following different replenishment policies: (a) starting with no shortages and (b) starting with shortages. The optimal replenishment policy for the model is derived for both the above mentioned policies.

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References

2001Recent trends in modeling of deteriorating inventory 1973An EOQ Model for Items with Weibull Distribution Deterioration 1991Survey of Literature on Continuously Deteriorating Inventory Models 1977Inventory Replenishment Policy for a Linear Trend in Demand—An Analytical Solution 1996Optimal Pricing and Lot-Sizing Under Conditions of Perishability and Partial Backordering 1981(T, Si) Policy Inventory Model for Deteriorating Items with Time Proportional Demand 1999An EOQ model for deteriorating items with time varying demand and partial backlogging 2007Inventory models with ramp type demand rate, partial backlogging and Weibull deterioration rate

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