Open Access
Deteriorating inventory model with controllable deterioration rate for time-dependent demand and time-varying holding cost
Vinod Kumar Mishra
- Vol. 24, Iss: 1
TLDR
In this article, the authors developed a deterministic inventory model for non-instantaneous deteriorating items in which both demand rate and holding cost are a linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged.Abstract:
In this paper, we develop an inventory model for non-instantaneous deteriorating items under the consideration of the facts: deterioration rate can be controlled by using the preservation technology (PT) during deteriorating period, and holding cost and demand rate both are linear function of time, which was treated as constant in most of the deteriorating inventory models. So in this paper, we developed a deterministic inventory model for non-instantaneous deteriorating items in which both demand rate and holding cost are a linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total cost of the inventory system. The model can be applied to optimizing the total inventory cost of non-instantaneous deteriorating items inventory for the business enterprises, where the preservation technology is used to control the deterioration rate, and demand & holding cost both are a linear function of time.read more
Citations
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Journal ArticleDOI
Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand
TL;DR: An inventory model with stock-dependent demand and non-instantaneous deterioration is developed and certain conditions have also been derived to identify situations where the retailer should or should not invest in preservation technology.
Journal ArticleDOI
EOQ and EPQ Production-Inventory Models with Variable Holding Cost: State-of-the-Art Review
TL;DR: This article reviewed and classified EOQ and EPQ inventory models formulated under the assumption of variable holding costs and classified them into three main types: time-dependent holding cost, stock dependent holding cost and multiple dependence or other holding cost variability.
Journal ArticleDOI
Preservation technology investment, trade credit and partial backordering model for a non-instantaneous deteriorating inventory
TL;DR: The aim of this study is to provide an insight into how preservation technology and credit financing could be used both to reduce the deterioration rate as well as to provide flexible financing for retailers.
Journal ArticleDOI
Optimal replenishment policy for non-instantaneously perishable items with preservation technology and random deterioration start time
TL;DR: In this article, an inventory model for non-instantaneously deteriorating items with constant demand is considered, where the items start deteriorating at a constant rate after a random period of time from receiving the delivery by the retailer.
Journal ArticleDOI
Joint pricing, advertisement, preservation technology investment and inventory policies for non-instantaneous deteriorating items under trade credit
TL;DR: In this article, the problem of optimizing price, advertisement frequency, preservation technology (PT) investment and ordering policies simultaneously for non-instantaneous deteriorating items whose deterioration rate can be reduced by investing in PT, while demand depends on both selling price and frequency of advertisement.
References
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Journal ArticleDOI
Inventory Replenishment Policy for a Linear Trend in Demand An Analytical Solution
TL;DR: In this paper, the classical no-shortage inventory policy is examined for the case of a linear trend in demand, and a computationally simple procedure for determining the optimal times for replenishment of inventory is established.
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(T, S i ) Policy Inventory Model for Deteriorating Items with Time Proportional Demand
Upendra Dave,L. K. Patel +1 more
TL;DR: In this article, an EOQ model is reconsidered in which the demand rate is changing linearly with time and the deterioration is assumed to be a constant fraction of the onhand inventory.
Journal ArticleDOI
An optimal replenishment policy for non-instantaneous deteriorating items with stock-dependent demand and partial backlogging
TL;DR: In this article, the optimal replenishment policy for non-instantaneous deteriorating items with stock-dependent demand is considered and the necessary and sufficient conditions of the existence and uniqueness of the optimal solution are shown.
Journal ArticleDOI
An EOQ model with delay in payments and time varying deterioration rate
TL;DR: The author develops an EOQ model for time varying deterioration rate where demand and deterioration rate are both time-dependent and the profit function of the model is maximized.
Journal ArticleDOI
A study on an inventory model for non-instantaneous deteriorating items with permissible delay in payments
TL;DR: The purpose of this study is to find an optimal replenishment policy for minimizing the total relevant inventory cost and developed some useful theorems to characterize the optimal solutions and provide an easy-to-use method to find the optimal replenishing cycle time and order quantity under various circumstances.