An inventory model for ameliorating/deteriorating items with trapezoidal demand and complete backlogging under inflation and time discounting

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30 citations0/0 files storedMathematical Methods in the Applied Sciences

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

Abstract

Recently, numerous inventory models were developed for ameliorating items (say, fish, ducklings, chicken, etc.) considering the constant demand rate. However, such types of problems are not useful in the real market. The demand rate of ameliorating items is fluctuates in their life‐period. The consumption and demand of ameliorating items are not generally steady. In a few seasons, the demand rate increases; ordinarily, it is static, and sometimes, it declines. With the outcome that their demand rate can be properly portrayed by a trapezoidal‐type. In the proposed model, an inventory model for ameliorating/deteriorating items are considered with inflationary condition and time discounting rate. Additionally, having shortages that is completely backlogged. The demand rate is taken as the continuous trapezoidal‐type function of time. The amelioration and deterioration rate are considered as Weibull distribution. To obtain the minimum cost, mathematical formulation of the proposed model with solution procedure is talked about. Numerical cases are given to be checked the optimal solution. Additionally, we have talked about the convexity of the proposed model through graphically. Conclusion with future worked are clarified appropriately. Copyright © 2016 John Wiley & Sons, Ltd.

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References

1975Economic Order Quantities with Inflation 1977Inventory Replenishment Policy for a Linear Trend in Demand—An Analytical Solution 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 1995A deterministic lot-size inventory model for deteriorating items with shortages and a declining market 1993Economic production lot size model for deteriorating items with partial back-ordering 1999Deteriorating inventory model with quantity discount, pricing and partial backordering 1997An EOQ model with stock-dependent demand, shortage, inflation and time discounting

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