An optimal policy for deteriorating items with time-proportional deterioration rate and constant and time-dependent linear demand rate

Trailokyanath Singh · Pandit Jagatananda Mishra · Hadibandhu Pattanayak

25 citations0/0 files storedJournal of industrial engineering international

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

Abstract

In this paper, an economic order quantity (EOQ) inventory model for a deteriorating item is developed with the following characteristics: The optimal cycle time and the optimal order quantity have been derived by minimizing the total average cost. A simple solution procedure is provided to illustrate the proposed model. The article concludes with a numerical example and sensitivity analysis of various parameters as illustrations of the theoretical results.

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References

1958Dynamic Version of the Economic Lot Size Model 2004Dynamic Version of the Economic Lot Size Model 2001Recent trends in modeling of deteriorating inventory 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 1977Inventory Replenishment Policy for a Linear Trend in Demand—An Analytical Solution

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2023Optimal inventory policies for time varying deteriorating items with dynamic demand under upstream and downstream trade credit by discounted cash-flow analysis

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