An EOQ Model for Varying Items with Weibull Distribution Deterioration and Price-dependent Demand

Begum, R.; Sahoo, R.; Sahu, Sudhir Kumar; Mishra, Mrityunjay Kumar

doi:10.3329/jsr.v2i1.2764

Cited by 13 publications

(7 citation statements)

References 16 publications

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“…Further, Smith, Limo´n, and Ca´rdenas-Barro´n (2009) developed a model by assuming capacity and inventory constraints in optimal pricing and production planning. Recently, Begum, Sahoo, Sahu, and Mishra (2010) developed an EOQ model for varying deteriorating items with Weibull distribution deterioration and price-dependent demand. They assume that the demand and deterioration rates are continuous and differentiable function of price and time.…”

Section: Introductionmentioning

confidence: 99%

A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

Begum¹,

Sahoo²,

Sahu

2012

International Journal of Systems Science

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In this article, an order-level inventory system for deteriorating items has been developed with demand rate as a function of selling price. The demand and the deterioration rate are price dependent and time proportional, respectively. We have considered a perishable item that follows a three-parameter Weibull distribution deterioration. Shortages are not permitted in our model. The optimal solution is illustrated with a numerical example and the sensitivity analysis of parameters is carried out.

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Section: Introductionmentioning

confidence: 99%

A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

Begum¹,

Sahoo²,

Sahu

2012

International Journal of Systems Science

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“…Amutha and Chandrasekaran [3] developed model with constant deterioration rate and time dependent holding cost. R. Begum et al [5] developed the model with time dependent on quadratic demand rate.…”

Section: Literature Reviewmentioning

confidence: 99%

Inventory Model For Deteriorating Items With Quadratic Demand, Partial Backlogging And Partial Trade Credit

Sharmila¹,

Uthayakumar²

2015

ORAJ

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SUMMARY +91-451-2452371, Fax: 91-451-2453071 PROLOGUEInventory management is the administration of supply, storage and convenience of items in order to ensure a sufficient supply without excessive oversupply. It can also be referred as domestic control -an accounting method or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc. The main target of inventory organization deals with minimization of the inventory carrying costs for which it is necessary to determine the optimal stock and optimal time of refill for the future. Researchers had developed inventory models by assuming quadratic demand for items like fruits, vegetables, materials, iron goods, clothes, etc., since the demand rate is flexible due to buyers and sellers.Due to the customer's choice and the arrival of new products may decline the demand rate. Attempting the obvious fact of time-varying demand pattern in the deteriorating inventory models yields very much real time application. Inventory has two types based on time -varying demands namely discrete and continuous time. The continuous -time inventory models were developed the demand pattern by linearly increasing or decreasing.

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“…In their paper advertisement is modeled as the frequency of advertisement in each replenishment cycle. Begum et al (2009) developed an instantaneous replenishment policy for deteriorating items with price-dependent demand. They applied a three-parameter Weibull distribution to present timedependency of inventory deterioration rate.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal dynamic pricing and replenishment policies for deteriorating items

Rabbani¹,

Zia²,

Rafiei³

2014

10.5267/j.ijiec

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Marketing strategies and proper inventory replenishment policies are often incorporated by enterprises to stimulate demand and maximize profit. The aim of this paper is to represent an integrated model for dynamic pricing and inventory control of deteriorating items. To reflect the dynamic characteristic of the problem, the selling price is defined as a time-dependent function of the initial selling price and the discount rate. In this regard, the price is exponentially discounted to compensate negative impact of the deterioration. The planning horizon is assumed to be infinite and the deterioration rate is time-dependent. In addition to price, the demand rate is dependent on advertisement as a powerful marketing tool. Several theoretical results and an iterative solution algorithm are developed to provide the optimal solution. Finally, to show validity of the model and illustrate the solution procedure, numerical results are presented.

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An EOQ Model for Varying Items with Weibull Distribution Deterioration and Price-dependent Demand

Cited by 13 publications

References 16 publications

A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

A replenishment policy for items with price-dependent demand, time-proportional deterioration and no shortages

Inventory Model For Deteriorating Items With Quadratic Demand, Partial Backlogging And Partial Trade Credit

Optimal dynamic pricing and replenishment policies for deteriorating items

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