Inventory Model for Deteriorating Seasonal Products with Time Varying Demand Rate
Abstract
The objective of this study is to propose the inventory models for deteriorating seasonal products with time dependent demand and finite horizon time. There are two patterns of demand rate; The first pattern, demand rate exponentially increases and immediately decreases with time and the second pattern, demand rate exponentially increases and immediate demand linearly decreases with time. In this study, a shortage is not allowed. These models can find the optimal quantity of product and optimal of time for purchasing which provides the minimum cost per order. Furthermore, the numerical examples are shown to support the results of theoretical study and sensitivity analysis is also considered for some parameters. Keywords : inventory model, seasonal products, deteriorating products, time varying demand rateReferences
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Ghosh, S.K. and Chaudhuri, K.S. (2005). An EOQ model for a deteriorating item with trended demand and
shortages in all cycles. Advanced Modeling and Optimization, 7, 57-68.
Manna, S.K., and Chaudhuri, K.S. (2006). An EOQ model with ramp type demand rate, time dependent
deterioration rate, unit production cost and shortages. European Journal of Operational research, 171,
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Ouyang, L.Y. Wu, K.S. and Cheng, M.C. (2004). An inventory model for deteriorating items with exponential
declining demand and partial backlogging. Yugoslav Journal of Operations Research, 15, 277-288.
Panda, S., Senapati, S., and Basu, M. (2008). Optimal replenishment policy for perishable seasonal products in a
season with ramp-type time dependent demand. Computers & Industrial Engineering, Vol. 54, 301-314.
Sharma, S. (2015). A generalized EOQ model for time dependent deteriorating items under inflation,
exponentially increasing demand and partial backlogging. American Journal of Computational and
Applied Mathematics, 5, 178-181.
Shukla, H.S., Shukla, V., and Yadav, S.K. (2013). EOQ model for deteriorating items with exponential demand
rate and shortages. Uncertain supply chain management, 1, 67-76.
Singh, T., and Pattnayak, H. (2013). An EOQ model for deteriorating items with linear demand, variable
deterioration and partial backlogging. Journal of service science and management, 6, 186-190.
Wu, K.S., and Ouyang, L.Y. (2000). A replenishment policy for deteriorating items with ramp type demand rate.
Proc. Natl. Sci. Counc. ROC(A), 24, 279-286.
and partial backlogging. International Journal of Information and Management Sciences, 10, 1-11.
Ghosh, S.K. and Chaudhuri, K.S. (2005). An EOQ model for a deteriorating item with trended demand and
shortages in all cycles. Advanced Modeling and Optimization, 7, 57-68.
Manna, S.K., and Chaudhuri, K.S. (2006). An EOQ model with ramp type demand rate, time dependent
deterioration rate, unit production cost and shortages. European Journal of Operational research, 171,
557-566.
Office of Agricultural Economics Ministry of Agriculture and Cooperatives. (2006-2015). Volume and value of
fresh and mango. Retrieved December 2, 2016, from http://www.oae.go.th/oae_report/export_import/
export.php
Ouyang, L.Y. Wu, K.S. and Cheng, M.C. (2004). An inventory model for deteriorating items with exponential
declining demand and partial backlogging. Yugoslav Journal of Operations Research, 15, 277-288.
Panda, S., Senapati, S., and Basu, M. (2008). Optimal replenishment policy for perishable seasonal products in a
season with ramp-type time dependent demand. Computers & Industrial Engineering, Vol. 54, 301-314.
Sharma, S. (2015). A generalized EOQ model for time dependent deteriorating items under inflation,
exponentially increasing demand and partial backlogging. American Journal of Computational and
Applied Mathematics, 5, 178-181.
Shukla, H.S., Shukla, V., and Yadav, S.K. (2013). EOQ model for deteriorating items with exponential demand
rate and shortages. Uncertain supply chain management, 1, 67-76.
Singh, T., and Pattnayak, H. (2013). An EOQ model for deteriorating items with linear demand, variable
deterioration and partial backlogging. Journal of service science and management, 6, 186-190.
Wu, K.S., and Ouyang, L.Y. (2000). A replenishment policy for deteriorating items with ramp type demand rate.
Proc. Natl. Sci. Counc. ROC(A), 24, 279-286.
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Published
2018-11-30
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