A deterministic two warehouse inventory model for deteriorating items with stock-dependent demand and shortages under the conditions of permissible delay

S.R. Singh · Rachna Kumari · Neeraj Kumar

25 citations0/0 files storedInternational Journal of Mathematical Modelling and Numerical Optimisation

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

Abstract

In this paper, a deterministic inventory model for deteriorating items with two warehouses and shortages is developed. It is observed that in supermarkets, the demand rate is usually influenced by the amount of the stock level, i.e., the demand rate may go up or down with the on-hand inventory level. Influenced by this, we develop a model where the demand is dependent on the present stock level. Trade credit is provided to the customer to attract them and boost up the demand. A rented warehouse (RW) is used when the ordering quantity exceeds the limited capacity of the own warehouse. Due to different storage conditions, deterioration rate in two warehouses may be different. In addition, shortages are neither completely backlogged nor completely lost assuming the backlogging rate to the inversely proportional to the waiting time for the next replenishment. The associated cost minimisation is illustrated by numerical example and also its sensitivity analysis is carried out 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 1985Economic Order Quantity under Conditions of Permissible Delay in Payments 1995Ordering Policies of Deteriorating Items under Permissible Delay in Payments 1997An ordering policy for deteriorating items with allowable shortage and permissible delay in payment 1973Inventory Policy and Trade Credit Financing 1989An Inventory Model for Deteriorating Items and Stock-dependent Consumption Rate 1974A Generalized EOQ Model for Items with Weibull Distribution Deterioration 1983Production/Operations Management: Contemporary Policy for Managing Operating Systems

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