OPTIMAL INVENTORY MODEL FOR DETERIORATING PRODUCTS WITH WEIBULL DISTRIBUTION DETERIORATION, STOCK AND TIME-DEPENDENT DEMAND, TIME-VARYING HOLDING COST UNDER FULLY BACKLOGGING

TitleOPTIMAL INVENTORY MODEL FOR DETERIORATING PRODUCTS WITH WEIBULL DISTRIBUTION DETERIORATION, STOCK AND TIME-DEPENDENT DEMAND, TIME-VARYING HOLDING COST UNDER FULLY BACKLOGGING
Publication TypeJournal Article
Year of Publication2016
AuthorsSHARMILA, D, UTHAYAKUMAR, R
Secondary TitleCommunications in Applied Analysis
Volume20
Issue2
Start Page277
Pagination14
Date Published04/2016
Type of Workscientific: mathematics
ISSN1056-2176
AMS03B52, 90B05
Abstract

Effect of deterioration plays a vital role in present environment of market. In this paper, an optimal inventory model for deteriorating items having stock and time dependent demand under the effects of deterioration is studied. A two parameter Weibull distribution is used to represent the distribution of the time to deterioration. In which the shortages are allowed and fully backlogged. The model is solved analytically by minimizing the total inventory cost. Some numerical examples have been carried out to illustrate the developed model.
URLhttp://www.acadsol.eu/en/articles/20/2/8.pdf
DOI10.12732/caa.v20i2.8
Short TitleOPTIMAL INVENTORY MODEL
Refereed DesignationRefereed
Full Text

REFERENCES

[1] Amutha, R. and Chandrasekaran,E.(2012),An inventory model for deteriorating products with Weibull distribution deterioration, time- varying demand and partial backlogging, International Journal of Scientific Engineering Research,Vol.3, 1-4.
[2] Babu,K.R. and Nagarani,V.(2015),An Inventory Model with Weibull Distribution Deterioration under Selling Price Demand Rate Using Partial Backlogging,IOSR Journal of Mathematics (IOSR-JM),Vol.11,26-31.
[3] Chun,T.C.(2004),Inventory models with stock dependent demand and non linear holding costs for deteriorating items,Asia Pacific Journal of Operational Research, Vol. 21, 435-446.
[4] Diwakar ,S., Uttam,K.K and Raghovendra,P.S.C.(2013),Time and Price Dependent Demand with Varying Holding Cost Inventory Model for Deteriorating Items,International Journal of Operations Research and Information Systems, Vol.4,75-95.
[5] Hesham,K.A. and Ahmed,M.G.(2016),Inventory and pricing model with price-dependent demand, time-varying holding cost, and quantity discounts,Computers & Industrial Engineering, Vol.94, 170 ? 177.
[6] Jie,M.,Yong,W.Z. and Ju,Z.(2010),An inventory model for deteriorating items under stock dependent demand and two level trade credit,Applied Mathematical Modelling,Vol.34,3273?3285.
[7] Karuppasamy,S.K. and Uthayakumar,R.(2015), An Economic order quantity model for health care industries with time dependent demand and holding cost under permissible delay in payment,1-6. 
[8] Krishna,P. and Bani,M.(2014), Optimal inventory model under stock and time dependent demand for time varying deterioration rate with shortages, Springer.
[9] Kiransinh,D.R. and Pravin,H.B.(2014),Inventory model with stock dependent demand rate variable ordering cost and variable holding cost, International Journal of Scientific and Innovation Mathematical Research,Vol.2,637-641.
[10] Mishra,N.,Mishra,S.P.,Srichandan,M.,panda,J.and Mishra,U.K.(2015),Inventory Model of Deteriorating Items for Linear Holding Cost with Time Dependent Demand,Mathematical Journal of Interdisciplinary Sciences,Vol.4,29-36.
[11] Mohan,R.and Venkateswarlu,R.(2013),Inventory Management Models with Variable Holding Cost and Salvage value,IOSR Journal of Business and Management (IOSR-JBM),Vol.12,37-42.
[12] Pareek,S. and Sharma,G.(2014),An inventory model with weibull distribution deteriorating item with exponential declining demand and partial backlogging,ZENITH International Journal
of Multidisciplinary Research,Vol.4,145-154.
[13] Sarkar,S. and Chakrabarti,T.(2013),An Epq Model Having Weibull Distribution Deterioration With Exponential Demand and Production With Shortages Under Permissible Delay In Payments,Mathematical Theory and Modeling,Vol.3,1-6.
[14] Sharma ,A.K., Aggarwal,N.K. and Khurana,S.K.(2015),An EOQ model for deteriorating items with ramp type demand, weibull distributed deterioration and shortages,Arya Bhatta Journal of Mathematics and Informatics, Vol.7,297-304.
[15] Singh, S.R., Kumar,N. and Kumari, R.(2010) An inventory model for deteriorating items with shortages and stock dependent demand under inflation for two shops under one management,Opsearch,
Vol. 47, 311-329.
[16] Singh,S.R. and Malik,A.K.(2011),An Inventory Model with Stock-Dependent Demand with Two Storages Capacity for Non-Instantaneous Deteriorating Items,International Journal of Mathematical Sciences and Applications,Vol.1,1255-1260.
[17] Sunil,V.K. and Pravin,B.B.(2013),An Inventory Model for Time Varying Holding Cost and Weibull Distribution for Deterioration with Fully Backlogged Shortages,International Journal of Mathematics Trends and Technology, Vol. 4,201-206
[18] Trailokyanath,S. and Hadibandhu,P.(2012),An EOQ inventory model for deteriorating items with varying trapezoidal type demand rate and Weibull distribution deterioration,Journal of Information and Optimization Sciences,Vol.34, 341-360
[19] Vikas,S. and Rekha,R.C.(2013),An inventory Model for deteriorating items with Weibull Deterioration with Time Dependent Demand and Shortages,Research Journal of Management Sciences,Vol.2,28-30.
[20] Vinod,K.M. and Lal, S.S.(2010), Deteriorating inventory model with time dependent demand and partial backlogging, Applied Mathematical Science, Vol.4,3611-3619.
[21] Vinod, K.M and Lal, S.S,(2011),Deteriorating inventory model for time dependent demand and holding cost with partial backlogging, International Journal of Management Science and Engineering Management, Vol. 6, 267-271.
[22] Zeinab,S.,Armand,B. and Mohammad,R.A.J.(2013),A replenishment policy for perishable products with nonlinear holding cost under stochastic supply lead time, The International Journal of Advanced Manufacturing Technology,Vol.64,1087-1098