A Supply Chain Production Inventory Model for Deteriorationg Product with Stock Dependent Demand under Inflationary Environment and Partial Backlogging

Khurana, Deepa; Pundir, S. R.; Tayal, Shilpy

doi:10.5120/ijca2015906688

Cited by 6 publications

(4 citation statements)

References 14 publications

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“…Goyal et al (2013) derived a production policy for ameliorating products with ramp type demand. Khurana et al (2015) presented supply chain production (SCP) inventory model for deteriorating items with stock varying demand under inflationary surroundings with partial backlogging. Jauhari et al (2016) formulated an integrated model with freight rate discount considering stochastic demand.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Also, Jauhari (2016), Jauhari and Saga (2017) and Jauhari et al (2018) formulated integrated models with freight rate discounts considering stochastic demand, defective items, price-sensitive demand and setup cost reduction. Some researchers (Khurana et al, 2015;Singh and Sharma, 2014;Singh et al, 2010) obtained the optimal lot size for decaying items with stock-dependent demand. Tripathi et al (2018) derived an EOQ model with inventory induced demand and time-dependent carrying cost.…”

Section: Literature Reviewmentioning

confidence: 99%

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An inventory model for decaying items with Pareto distribution, time-dependent demand and shortages

Mohan¹,

Ota²,

Kumar³

2022

IJMOR

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In this paper, we develop an EOQ model for time-varying demand with deterioration. We assumed that the deterioration of commodity follows a generalised Pareto distribution. Also, the shortage is allowed and fully backlogged. Keeping these assumptions under consideration, the mathematical expressions are obtained for carrying cost, shortage cost and deterioration cost. Inventory costs were used to constitute the total cost function. Subsequently, optimal time to consume physical stock, cycle time, and total cost per cycle were determined. The results are discussed with the help of numerical examples followed by a comparative analysis between quadratic demand rate and equivalent linear demand rate. A comparison of results obtained from numerical examples concludes that the optimum cost for quadratic demand is less than that of the linear demand model. Finally, sensitivity analysis is presented to describe the influence of changes in the parameters on optimal policies.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

An inventory model for decaying items with Pareto distribution, time-dependent demand and shortages

Mohan¹,

Ota²,

Kumar³

2022

IJMOR

View full text Add to dashboard Cite

show abstract

“…Giri and Bardhan (2015) established a vendor -buyer joint replenishment model with stock dependent demand and consigned inventory under buyer's space constraint. Khurana et al (2015) investigated a supply chain of deteriorating inventory having stock dependent demand with partial backlogging to derive EPQ. Singh et al (2016) worked on an inventory system consisting of deteriorating items following stock dependent demand to find economic order quantity.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal strategy for an inventory model based on agile manufacturing under imperfect production process

Dem

Singh

Parasher

2019

IJMOR

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This paper presents a production inventory model over infinite planning horizon with manufacturing process producing both perfect as well as imperfect items. Demand is stock dependent for perfect quality items and for imperfect items it depends on the reduction rate of selling price and the amount of imperfect production. The production rate is a function of demand. Reliability of the manufacturing system is assumed to be exponentially decreasing function of time. The objective is to determine the optimal policy for production system which maximises the total profit subject to some constraints under consideration. The results are discussed with a numerical example to illustrate the theory. The effects of important parameters on decision policy are also analysed through sensitivity analysis.

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“…An inventory model developed by Uthayakumar and Palanivel [13] projected the effect of inflation which showed a significant increase in the cycle length, the order quantity, and the total cost with an increase in the net discount rate of inflation. Khurana et al [14] constructed a production inventory model for deteriorating products, which also showed its adverse effect on the system's total cost. Mondal et.…”

Section: Introductionmentioning

confidence: 99%

Cost Minimization Policy for Manufacturer in a Supply Chain Management System with Two Rates of Production under Inflationary Condition

Saha¹,

Chakrabarti

2020

JTI

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This article presents a production inventory model for deteriorating goods with two different rates of production. The manufacturer starts manufacturing the items at a lower rate to avoid a huge investment at the initial stage and reduce the products' holding cost. However, when the stock level reaches a prefixed level, he switches on to a higher production rate to avoid shortage caused by an insufficient stock of the items. Moreover, the impact of inflation and the time value of money on the manufacturing system’s cost is considered here, which harms any business by reducing the value of an investment with time. We determined the optimum production times at both the low and high production rates by minimizing the system's total cost. Numerical examples illustrated the applicability of this proposed model. Sensitivity analysis studied the effect of changes in the parameters associated with this model on the optimal decision variables. This numerical experiment was done in LINGO 18.0 software. Results showed that the production strategy taken by the manufacturer helped reduce his total cost.

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A Supply Chain Production Inventory Model for Deteriorationg Product with Stock Dependent Demand under Inflationary Environment and Partial Backlogging

Cited by 6 publications

References 14 publications

An inventory model for decaying items with Pareto distribution, time-dependent demand and shortages

An inventory model for decaying items with Pareto distribution, time-dependent demand and shortages

Optimal strategy for an inventory model based on agile manufacturing under imperfect production process

Cost Minimization Policy for Manufacturer in a Supply Chain Management System with Two Rates of Production under Inflationary Condition

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