A partial backlogging production-inventory lot-size model for deteriorating items with time-varying production and demand rate over a finite time horizon

Hui‐Ling Yang

27 citations0/0 files storedInternational Journal of Systems Science

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

Abstract

In this article, I extend Balkhi ((2001), ‘On a Finite Horizon Production Lot Size Inventory Model for Deteriorating Items: An Optimal Solution’, European Journal of Operational Research, 132, 210–223), by considering a generalised mathematical production-inventory model for deteriorating items with partial backlogging. The demand, production and backlogging rates are assumed to be continuous and varying with time. The objective is to find the optimal production restarting and stopping time to keep the total relevant cost as low as possible. To ascertain the optimal solution exists, the conditions for the total relevant cost in the system which attains its global minimum are provided. In addition, based on the minimum total relevant cost, an alternative among the proposed four cases is also suggested. Finally, a numerical example and sensitivity analysis is illustrated and some management insights are presented.

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References

1999An EOQ model for deteriorating items with time varying demand and partial backlogging 2002Optimal pricing and lot-sizing under conditions of perishability, finite production and partial backordering and lost sale 2000An optimal replenishment policy for deteriorating items with time-varying demand and partial–exponential type – backlogging 2003An integrated multi-lot-size production inventory model for deteriorating item 2003The production–inventory problem of a product with time varying demand, production and deterioration rates 2002An optimal replenishment policy for deteriorating items with time-varying demand and partial backlogging 2001Deterministic inventory lot-size models under inflation with shortages and deterioration for fluctuating demand 2003A production–inventory model for a deteriorating item with trended demand and shortages

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2017Analysis and optimization of an EOQ inventory model with promotional efforts and back ordering under delay in payments 2012A discrete-in-time deteriorating inventory model with time-varying demand, variable deterioration rate and waiting-time-dependent partial backlogging 2013Pricing and inventory policies for Hi-tech products under replacement warranty

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