A production inventory model with deteriorating items and shortages
DOI:
https://doi.org/10.2298/YJOR0402219SKeywords:
deteriorating item, shortage, economic order quantity modelAbstract
A continuous production control inventory model for deteriorating items with shortages is developed. A number of structural properties of the inventory system are studied analytically. The formulae for the optimal average system cost, stock level, backlog level and production cycle time are derived when the deterioration rate is very small. Numerical examples are taken to illustrate the procedure of finding the optimal total inventory cost, stock level, backlog level and production cycle time. Sensitivity analysis is carried out to demonstrate the effects of changing parameter values on the optimal solution of the system.References
Aggarwal, S.P. (1978) A note on an order level inventory model for a system with constant rate of deterioration. Opsearch, 15, 4, 184-187
Bahari-Kashani, H. (1989) Replenishment schedule for deteriorating items with time-proportional demand. Journal of the Operational Research Society, 40, 75-81
Covert, R.P., Philip, G.C. (1973) An EOQ model for items with Weibull distribution deteriorating. AIIE Transactions, vol. 5, str. 323-326
Dave, U., Patel, L.K. (1981) T, Si: Policy inventory model for deteriorating items with time proportional demand. Journal of the Operational Research Society, 32, 137-142
Dave, U. (1986) An order level inventory model for deteriorating items with variable instantaneous demand and discrete opportunities for replenishment. Opsearch, 23, 4, 244-249
Deb, M., Chaudhuri, K.S. (1992) An EOQ model for items with finite rate of production and variable rate of deterioration. J Oper Res Soc, vol. 43, 175-181
Ghare, P.M., Schrader, G.F. (1956) A model for exponentially decaying inventory. Journal of Industrial Engineering, vol. 14, str. 238-243
Goswami, A., Chaudhuri, K.S. (1991) An EOQ model for deteriorating items with shortages and a linear trend in demand. Journal of the Operational Research Society, 42, 1105-1110
Goswami, A., Chaudhuri, K.S. (1992) Variations of order-level inventory models for deteriorating items. International Journal of Production Economics, 27, 111-117
Jalan, A.K., Chaudhuri, K.S. (1999) Structural properties of an inventory system with deterioration and trended demand. International Journal of Systems Science, 30, 627-633
Mishra, R.B. (1975) Optimum production lot-size model for a system with deteriorating inventory. International Journal of Production Research, 13, 495-505
Nahmias, S. (1982) Perishable inventory theory: A review. Oper Res, 30(4): 680-708
Philip, G.C. (1974) A generalized EOQ model for items with Weibull distribution deterioration. AIIE Transactions, vol. 6, str. 159-162
Rafaat, F. (1991) Survey of literature on continuously deteriorating inventory model. J Oper Res Soc, 42, 27-37
Shah, Y.K., Jaiswal, M.C. (1977) An order-level inventory model for a system with constant rate of deterioration. Opsearch, 14, 174-184
Whitin, T.M. (1957) Theory of inventory management. Princeton, NJ: Princeton University Press
Downloads
Published
Issue
Section
License
Copyright (c) YUJOR
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.