International Journal of Mathematics Trends and Technology
Volume 25 | Number 1 | Year 2015 | Article Id. IJMTT-V25P504 | DOI : https://doi.org/10.14445/22315373/IJMTT-V25P504
Many real life situations, the stock level of the inventoried items is continuously depleting due to the combined effects of its demand and deterioration. This paper develops an optimal lot-sizing EPQ model for Weibull deteriorated items with constant rate of demand and time-varying holding cost over a finite planning horizon. Specifically a 3-parameter Weibull distribution is used to represent the deterioration rate. Shortages are permitted and are completely backlogged. Numerical example along with sensitivity analysis is given to support the model.
[1] Aggarwal, S. P., “A note on an order-level inventory model for a system with constant rate of deterioration”, Opsearch, 15 (1978) 184-187.
[2] Bahari-Kashani, H., “Replenishment schedule for deteriorating items with time-proportional demand”, Journal of the Operational Research Society, 40 (1989) 75-81.
[3] Begum, Sahoo, Sahu and Mishra, “An EOQ model for varying items with Weibull distribution deterioration and price dependent demand,” Journal of Scientific Research, 2(1), pp. 24-36, 2010.
[4] Covert, R.P., and Philip, G.C., “An EOQ model for items with Weibull distribution deterioration”, AIIE Transaction, 5 (1973) 323-326.
[5] Dave, U., “An order-level inventory model for deteriorating items with variable instantaneous demand and discrete opportunities for replenishment”, Opsearch, 23 (1986) 244-249.
[6] Dave, U., and Patel, L.K., “(T,Si) policy inventory model for deteriorating items with time proportional demand”, Journal of the Operational Research Society, 32 (1981) 137-142.
[7] Goyal S.K. and Giri B.C., “Recent trends in modeling of deteriorating inventory”. European Journal of Operational Research, 134, 1-16, 2001.
[8] Goswami, A., and Chaudhuri, K.S., "An EOQ model for deteriorating items with shortages anda linear trend in demand", Journal of the Operational Research Society, 42 (1991) 1105-1110.
[9] Gothi, U.B. and Chatterji, D., “EPQ model for imperfect quality items under constant demand rate and varying IHC.” Sankhya Vignan, NSV 11, No. 1, pp. 7- 19, June 2015.
[10] Gothi, U.B. & Parmar, K.C., “Order level lot Size inventory model for deteriorating items under quadratic demand with time dependent IHC and partial backlogging,” Research Hub – International Multidisciplinary Research Journal (RHIMRJ), Vol 2, Issue 2, 2015.
[11] Ghare, P.M., and Schrader, G.P., "A model for exponentially decaying inventories", Journalof Industrial Engineering, 14 (1963) 238-243.
[12] Kawale, S.V., and Bansode, P. B., “An inventory model for time varying holding cost and weibull distribution for deterioration with fully backlogged shortages”, International Journal of Mathematics Trends and Technology – Volume 4 Issue 10 – Nov 2013, Page 201.
[13] Philip, G.C., "A generalized EOQ model for items with Weibull distribution deterioration", AIIE Transaction, 6 (1974) 159-162.
[14] Parmar, K.C. and Gothi, U. B., “Order level inventory model for deteriorating items under quadratic demand with time dependent IHC,” Sankhaya Vignan, NSV 10, No. 2, pp. 1 – 12, 2014.
[15] Parmar, K.C. and Gothi, U. B., “An EPQ model of deteriorating items using three parameter weibull distribution with constant production rate and time varying holding cost” International Journal of Science, Engineering and Technology Research (IJSETR), Volume 4, Issue 2, February 2015.
[16] Sarkar, S. and Chakrabarty, T., “An EPQ model having Weibull distribution deterioration with exponential demand and production with shortages under permissible delay in payments.” Mathematical Theory and Modelling, Vol. 3, No. 1, 1-6, 2013.
[17] 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.
[18] Sugapriya, C. and Jeyaraman K., “An EPQ model for non-instantaneous deteriorating item in which holding cost varies with time.” Electronic Journal of Applied Statistical Analysis, (1), 16-23, 2008.
[19] Wee H.M., “Deteriorating inventory model with quantity discount, pricing and partial backordering.” International Journal of Production Economics, Vol.59, 511-518, 1999.
[20] Whitin, T.M., “Theory of Inventory Management”, Princeton University Press, Princeton, NJ.
Devyani A.Chatterji, U. B. Gothi, "Optimal EPQ Model with Weibully Distributed Deterioration Rate and Time Varying IHC," International Journal of Mathematics Trends and Technology (IJMTT), vol. 25, no. 1, pp. 16-26, 2015. Crossref, https://doi.org/10.14445/22315373/IJMTT-V25P504
PDF 
Abstract 
Keywords 
References 
Citation