An EOQ model for non-instantaneous deteriorating items with time-dependent demand under partial backlogging

R. Udayakumar

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

Abstract

This article discusses an economic order quantity model for non-instantaneous deteriorating items in which the demand is assumed to be a linear function of time over an infinite planning horizon. In addition, the salvage value associated with the deteriorated units is also considered. The shortages are allowed and partially backlogged. A mathematical model is framed to obtain the replenishment policy which aids the retailer to minimize the total inventory cost. The objective of this work is to minimize the total inventory cost and to find the optimal length of replenishment and the optimal order quantity. The theory developed in this article is illustrated using numerical examples. A computational algorithm is designed to find the optimal solution. Sensitivity analysis is carried out to study the changes in the effect on the optimal solutions and some managerial insights are obtained.

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References

1962International Journal of Production Research 2016Literature review of deteriorating inventory models by key topics from 2012 to 2015 2006A study on an inventory model for non-instantaneous deteriorating items with permissible delay in payments 2004An inventory model for deteriorating items with stock-dependent consumption rate and shortages under inflation and time discounting 2009An inventory model under inflation for deteriorating items with stock-dependent consumption rate and partial backlogging shortages 2003An inventory system of ameliorating items for price dependent demand rate 2013An inventory control problem for deteriorating items with back-ordering and financial considerations 2011Joint control of inventory and its pricing for non-instantaneously deteriorating items under permissible delay in payments and partial backlogging

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