Inventory Model for Non – Instantaneous Deteriorating Items, Stock Dependent Demand, Partial Backlogging, and Inflation over a Finite Time Horizon

Kumar, Neeraj; Kumar, Sanjey

doi:10.22034/2016.1.05

Inventory Model for Non – Instantaneous Deteriorating Items, Stock Dependent Demand, Partial Backlogging, and Inflation over a Finite Time Horizon

Document Type : Research Paper

Authors

SRM University, Delhi - NCR, Sonepat, Haryana, India

10.22034/2016.1.05

Abstract

In the present study, the Economic Order Quantity (EOQ) model of two-warehouse deals with non-instantaneous deteriorating items, the demand rate considered as stock dependent and model affected by inflation under the pattern of time value of money over a finite planning horizon. Shortages are allowed and partially backordered depending on the waiting time for the next replenishment. The main objective of this work is to minimize the total inventory cost and finding the optimal interval 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. Also, the effect of changes in the different parameters on the optimal total cost is graphically presented.

Keywords

Main Subjects

production & inventory management

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