Articlebronze2012

Inventory Model For Time Dependent Holding Cost And Deterioration With Salvage Value And Shortages

33 citations0/0 files storedJournal of Mathematics and Computer Science

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Supply Chain and Inventory Management Reliability and Maintenance Optimization Optimization and Mathematical Programming

Abstract

In this paper, a deterministic inventory model is developed for deteriorating items in which shortages are allowed and salvage value is incorporated to the deteriorated items. In this model the demand rate is constant, deterioration rate is time dependent with weibull’s distribution and holding cost is a linear function of time. The model is solved analytically by minimizing the total inventory cost. Numerical analysis is provided to illustrate the solution and application of the model. The model can be applied to optimizing the total inventory cost for the business enterprises where holding cost and deterioration rate both are time dependent and salvage value is incorporated to the deteriorated items.

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References

2001Recent trends in modeling of deteriorating inventory 1963A model for an exponentially decaying inventory 1996Optimal Pricing and Lot-Sizing Under Conditions of Perishability and Partial Backordering 2007Inventory models with ramp type demand rate, partial backlogging and Weibull deterioration rate 2001Optimal price and order size for a reseller under partial backordering 2008An EOQ model with noninstantaneous receipt and exponentially deteriorating items under two-level trade credit 2008AN INVENTORY MODEL FOR DETERIORATING ITEMS WITH PRICE DEPENDENT DEMAND AND TIME VARYING HOLDING COST 2010An inventory model with generalized type demand, deterioration and backorder rates

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