In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in th...In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.展开更多
In this paper,a deterministic inventory model for non-instantaneous deteriorating items with price-and time-dependent demand with inflation is developed.The demand is continuous and differentiable function of price an...In this paper,a deterministic inventory model for non-instantaneous deteriorating items with price-and time-dependent demand with inflation is developed.The demand is continuous and differentiable function of price and time.Shortages are allowed and the unsatisfied demand is partially backlogged at a negative exponential rate with the waiting time.The objective is to find the optimal replenishment cycle such that present value of total profit is maximized,for any given selling price.We then provide a simple algorithm to find the optimal selling price and replenishment schedule for the proposed model that can be easily implemented by practitioners.Comparisons of the present model with various cases are presented as the special case.Numerical examples are used to illustrate the theoretical results and the sensitivity analysis with respect to major parameters on the optimal solutions is also performed.展开更多
The major challenge of inventory decision makers is to determine an inventory optimization strategy that ensures the right balance between keeping abundant on hand inventory to meet the demand of the customers and opt...The major challenge of inventory decision makers is to determine an inventory optimization strategy that ensures the right balance between keeping abundant on hand inventory to meet the demand of the customers and optimizing costs related to holding inventory.This article analyzes on providing a general deterministic inventory model in which the rate of demand is determined by price and time over the ordering cycle time.The traditional assumption of zero ending invento ry level is relaxed to a non-zero ending inventory level.Shortages are allowed which are partially backlogged.We develop models with partial backlogging and without backlogging.The aim is to maximize the profit per unit time,assuming delay in payment and inflation.An algorithm is proposed to find the optimal selling price,optimal stockout period,optimal replenishment cycle time and the optimal ending inventory level.All the possible special cases of these two models are also discussed.The numerical examples,graphical representation,and sensitivity analysis are given to illustrate the practical application of the proposed model.展开更多
This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maxi...This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maximising the total profit by determining optimal replenishment policies.Shortages are allowed which are partially backlogged.This model also takes into cognizance the fact that in business activities nowadays customers are given delay in payments.Under these assumptions,a mathematical model is formulated over a finite planning horizon and then some useful theoretical results have been framed to characterise the optimal solutions.The necessary and sufficient conditions for the existence and the uniqueness of the optimal solutions are also derived.An algorithm is designed to find the optimum solutions of the proposed model.Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyse the behaviour of the model.展开更多
基金The first author’s research work is supported by DST INSPIRE,Ministry of Science and Technology,Government of India under grant no.DST/INSPIRE Fellowship/2011/413B dated 2 December 2014.
文摘In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.
文摘In this paper,a deterministic inventory model for non-instantaneous deteriorating items with price-and time-dependent demand with inflation is developed.The demand is continuous and differentiable function of price and time.Shortages are allowed and the unsatisfied demand is partially backlogged at a negative exponential rate with the waiting time.The objective is to find the optimal replenishment cycle such that present value of total profit is maximized,for any given selling price.We then provide a simple algorithm to find the optimal selling price and replenishment schedule for the proposed model that can be easily implemented by practitioners.Comparisons of the present model with various cases are presented as the special case.Numerical examples are used to illustrate the theoretical results and the sensitivity analysis with respect to major parameters on the optimal solutions is also performed.
文摘The major challenge of inventory decision makers is to determine an inventory optimization strategy that ensures the right balance between keeping abundant on hand inventory to meet the demand of the customers and optimizing costs related to holding inventory.This article analyzes on providing a general deterministic inventory model in which the rate of demand is determined by price and time over the ordering cycle time.The traditional assumption of zero ending invento ry level is relaxed to a non-zero ending inventory level.Shortages are allowed which are partially backlogged.We develop models with partial backlogging and without backlogging.The aim is to maximize the profit per unit time,assuming delay in payment and inflation.An algorithm is proposed to find the optimal selling price,optimal stockout period,optimal replenishment cycle time and the optimal ending inventory level.All the possible special cases of these two models are also discussed.The numerical examples,graphical representation,and sensitivity analysis are given to illustrate the practical application of the proposed model.
文摘This paper considers an inventory model with non-instantaneous deteriorating item in which demand rate is a function of selling price and time,taking account of time value of money.This paper aids the retailer in maximising the total profit by determining optimal replenishment policies.Shortages are allowed which are partially backlogged.This model also takes into cognizance the fact that in business activities nowadays customers are given delay in payments.Under these assumptions,a mathematical model is formulated over a finite planning horizon and then some useful theoretical results have been framed to characterise the optimal solutions.The necessary and sufficient conditions for the existence and the uniqueness of the optimal solutions are also derived.An algorithm is designed to find the optimum solutions of the proposed model.Numerical examples are included to illustrate the algorithmic procedure and the effects of key parameters are studied to analyse the behaviour of the model.
