Research Article

Optimal Inventory Model for Time Dependent Decaying Items with Stock Dependent Demand Rate and Shortages

by  Rekha Rani Chaudhary, Vikas Sharma, Urvashi Chaudhary
journal cover
International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 79 - Issue 17
Published: October 2013
Authors: Rekha Rani Chaudhary, Vikas Sharma, Urvashi Chaudhary
10.5120/13959-1568
PDF

Rekha Rani Chaudhary, Vikas Sharma, Urvashi Chaudhary . Optimal Inventory Model for Time Dependent Decaying Items with Stock Dependent Demand Rate and Shortages. International Journal of Computer Applications. 79, 17 (October 2013), 6-9. DOI=10.5120/13959-1568 

                        @article{ 10.5120/13959-1568,
                        author  = { Rekha Rani Chaudhary,Vikas Sharma,Urvashi Chaudhary },
                        title   = { Optimal Inventory Model for Time Dependent Decaying Items with Stock Dependent Demand Rate and Shortages },
                        journal = { International Journal of Computer Applications },
                        year    = { 2013 },
                        volume  = { 79 },
                        number  = { 17 },
                        pages   = { 6-9 },
                        doi     = { 10.5120/13959-1568 },
                        publisher = { Foundation of Computer Science (FCS), NY, USA }
                        }
                        %0 Journal Article
                        %D 2013
                        %A Rekha Rani Chaudhary
                        %A Vikas Sharma
                        %A Urvashi Chaudhary
                        %T Optimal Inventory Model for Time Dependent Decaying Items with Stock Dependent Demand Rate and Shortages%T 
                        %J International Journal of Computer Applications
                        %V 79
                        %N 17
                        %P 6-9
                        %R 10.5120/13959-1568
                        %I Foundation of Computer Science (FCS), NY, USA
Abstract

This paper deals with in developing an inventory model for time dependent decaying items as bread, food stuff, green vegetables and medicine etc. The rate of deterioration is time dependent and considers a linear function of time. Demand rate is stock dependent in linear form. It is a common phenomenon observed in the super market that a large pile of goods attracts more customers. Shortages are allowed and shortages are completely backlogged. The numerical example is given to illustrate the model developed. The model is solved analytically by maximizing the total profit.

References
  • Ghare, P. M. , and Schrader, G. F. , "An inventory model for exponentially deteriorating items", Journal of Industrial Engineering, 14(1963), 238-243.
  • Shah, Y. K. , and Jaiswal, M. C. , "An order-level inventory model for a system with Constant rate of deterioration", Opsearch, 14(1977), 174-184
  • Covert, R. P. , and Philip, G. C. , "An EOQ model for items with Weibull distribution deterioration. AIIE Transactions", 5(1973), 323-326.
  • Chung, K. , and Ting, P. , "A heuristic for replenishment of deteriorating items with a linear trend in demand", Journal of the Operational Research Society,44(1993), 1235-1241.
  • Fujiwara, O. , "EOQ models for continuously deteriorating products using linear and exponential penalty costs", European Journal of Operational Research, 70(1993), 104-14.
  • Hariga, M. A. , and Benkherouf, L. , "Optimal and heuristic inventory replenishment models for deteriorating items with exponential time- varying demand", European Journal of Operational Research. 79(1994), 123-137.
  • Wee, H. M. , "A deterministic lot-size inventory model for deteriorating with shortages and a declining market", Computers and Operations, 22(1995), 345-356.
  • Jalan, A. K. , and Chaudhuri, K. S. , "Structural properties of an inventory system with deterioration and trended demand", International Journal of Science, 30(1999), 627-633.
  • Giri, B. C. , and Chaudhuri, K. S. , "Heuristic models for deteriorating items with shortages and time varying demand and costs", International Journal of Systems Science, 28(1997), 53-159.
  • Burwell T. H. , Dave D. S. , Fitzpatrick K. E. , Roy M. R. , "Economic lot size model for price-dependent demand under quantity and freight discounts", International of Production Economics, 48(2)(1997), 141-155.
  • Mondal, B. , Bhunia, A. K. , Maiti, M. , "An inventory system of ameliorating items for price dependent demand rate", Computers and Industrial Engineering, 45(3)(2003), 443-456.
  • You, S. P. , "Inventory policy for products with price and time-dependent demands", Journal of the Operational Research Society, 56(2005), 870-873. Journal of the Operational Research Society, 56(2005), 870-873.
  • Goh, M. , EOQ models with general demand and holding cost functions", European Journal of Operational Research, 73(1994), 50-54.
  • Mondal, B. , Bhunia, A. K. , Maiti, M. , "An inventory system of ameliorating items for price dependent demand rate", Computers and Industrial Engineering, 45(3) (2003), 443-456.
  • T. K. Datta, A. K. Pal, deterministic inventory systems for deteriorating items with inventory level dependent demand rate and shortages, opsearch 27(1990) 213-224.
  • Giri, B. C. , and Chaudhuri, K. S. , Deterministic models of perishable inventory with stock dependent demand rate and nonlinear holding cost, European Journal of Operational Research. 105(1998), 467-474.
  • G. Padmanabhan , P. Vrat, EOQ models for perishable items under stock dependent selling rate , European Journal of Operational Research. 86(1995), 281-292.
Index Terms
Computer Science
Information Sciences
No index terms available.
Keywords

Inventory EOQ Model deteriorating items stock dependent demand rate

Powered by PhDFocusTM