A study on two-warehouse partially backlogged deteriorating inventory models under inflation via particle swarm optimisation

Asoke Kumar Bhunia · Ali Akbar Shaikh · Ranjan Kumar Gupta

50 citations0/0 files storedInternational Journal of Systems Science

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

Abstract

This paper deals with a deterministic inventory model for linear trend in demand under inflationary conditions with different rates of deterioration in two separate warehouses (owned and rented warehouses). The replenishment rate is infinite. The stock is transferred from the rented warehouse to owned warehouse in continuous release pattern and the associated transportation cost is taken into account. At owned warehouse, shortages, if any, are allowed and partially backlogged with a rate dependent on the duration of waiting time up to the arrival of the next lot. The corresponding problems have been formulated as nonlinear constrained optimisation problems for two different policies (inventory follows shortage (IFS) and shortage follows inventory (SFI)). Finally, the model has been illustrated with a numerical example and to study the effects of changes of different system parameters on initial stock level, maximum shortage level and cycle length with the minimum cost of the system, sensitivity analyses have been carried out by changing one parameter at a time and keeping the others at their original values.

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References

2017Journal of Industrial Engineering 1973An EOQ Model for Items with Weibull Distribution Deterioration 1963A model for an exponentially decaying inventory 1975Economic Order Quantities with Inflation 1987A deterministic order level inventory model for deteriorating items with two storage facilities 2003Two-warehouse inventory models for deteriorating items with shortages under inflation 1999Deteriorating inventory model with quantity discount, pricing and partial backordering 1992A deterministic inventory model for deteriorating items with two warehouses and finite replenishment rate

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