Imperfect production inventory model for time and effort dependent demand under inflation and maximum reliability

Nita H. Shah · Chetansinh R. Vaghela

23 citations0/0 files storedInternational Journal of Systems Science Operations & Logistics

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

Abstract

This paper analyses an economic production quantity (EPQ) model with time and advertisement sensitive demand with the effect of inflation when defective items are produced. In every manufacturing sector, some problems (like labor problems , machine breakdown, etc.) may arise in production system in long run. Due to this, imperfect or defective items are produced. These defective items are reworked to get fresh items again. This rework process is done at some cost. To reduce this additional rework cost some improvement in product reliability is very much needed. Keeping these facts in mind we have incorporated reliability as decision variable in our model. The objective of the model is to maximise profit function with respect to reliability parameter. We have used Euler-Lagrange method to optimise profit function. The problem is validated by numerical example and effects of inventory parameters are studied by sensitivity analysis.

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References

1983Production and inventory management 2001Recent trends in modeling of deteriorating inventory 1982Perishable Inventory Theory: A Review 1986Optimal Lot Sizing, Process Quality Improvement and Setup Cost Reduction 1973An EOQ Model for Items with Weibull Distribution Deterioration 1991Survey of Literature on Continuously Deteriorating Inventory Models 1963A model for an exponentially decaying inventory 2012Review of inventory systems with deterioration since 2001

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2019Joint Effects of Carbon Emission, Deterioration, and Multi-stage Inspection Policy in an Integrated Inventory Model 2022A Fuzzy Imperfect Production Inventory Model Based on Fuzzy Differential and Fuzzy Integral Method 2020Unreliable EPQ model with variable demand under two-tier credit financing

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