Yugoslav Journal of Operations Research 2014 Volume 24, Issue 1, Pages: 87-98
https://doi.org/10.2298/YJOR120823018M
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Controllable deterioration rate for time-dependent demand and time-varying holding cost
Mishra Vinod Kumar (Department of Computer Science & Engineering, B.T. Kumaon Institute of Technology, Dwarahat, Almora, (Uttarakhand), India)
In this paper, we develop an inventory model for non-instantaneous
deteriorating items under the consideration of the facts: deterioration rate
can be controlled by using the preservation technology (PT) during
deteriorating period, and holding cost and demand rate both are linear
function of time, which was treated as constant in most of the deteriorating
inventory models. So in this paper, we developed a deterministic inventory
model for non-instantaneous deteriorating items in which both demand rate and
holding cost are a linear function of time, deterioration rate is constant,
backlogging rate is variable and depend on the length of the next
replenishment, shortages are allowed and partially backlogged. The model is
solved analytically by minimizing the total cost of the inventory system. The
model can be applied to optimizing the total inventory cost of
non-instantaneous deteriorating items inventory for the business enterprises,
where the preservation technology is used to control the deterioration rate,
and demand & holding cost both are a linear function of time.
Keywords: inventory, non-instantaneous deteriorating items, controllable deterioration rate, preservation technology, time dependent holding cost