An EOQ model with two-parameter Weibull distribution deterioration and price-dependent demand

Rathindra Nath Mukherjee · Kripasindhu S. Chaudhuri

72 citations0/0 files storedInternational Journal of Mathematical Education in Science and Technology

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

Abstract

An Inventory replenishment policy is developed for a deteriorating item and price-dependent demand. The rate of deterioration is taken to be time-proportional and the time to deterioration is assumed to follow a two-parameter Weibull distribution. A power law form of the price dependence of demand is considered. The model is solved analytically and is illustrated with a numerical example.

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References

1958Dynamic Version of the Economic Lot Size Model 1973An EOQ Model for Items with Weibull Distribution Deterioration 1977Inventory Replenishment Policy for a Linear Trend in Demand—An Analytical Solution 1981(T, Si) Policy Inventory Model for Deteriorating Items with Time Proportional Demand 1997Retailer's pricing and lot sizing policy for exponentially deteriorating products under the condition of permissible delay in payments 1979A Simple Inventory Replenishment Decision Rule for a Linear Trend in Demand 1991An EOQ Model for Deteriorating Items with Shortages and a Linear Trend in Demand 1984On (T, Si) Policy Inventory Model for Deteriorating Items with Time Proportional Demand

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