An EPQ Model under Constant Amelioration, Different Deteriorations with Exponential Demand Rate and Completely Backlogged Shortages

D, Khatri P; Gothi, U B

doi:10.26438/ijsrmss/v5i2.2128

Cited by 2 publications

(1 citation statement)

References 2 publications

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“…Srivastava proposed an inventory model for ameliorating/deteriorating items with inflationary condition and time discounting rate and also completely backlogged shortage. Khatri and Gothi (2018), developed an economic production quantity inventory model for ameliorating and deteriorating items where at the inception of production activity, the constant amelioration, two parameter Weibully distributed deterioration rate and exponential demand rate was considered. At the conclusion stage of production activity, deterioration of items has been assumed to follow Pareto Type-I distribution with the same amelioration and demand rate as at the inception stage.…”

Section: Introductionmentioning

confidence: 99%

An Optimal Decision Model for Ameliorating Inventory Items With Stock Dependent Demand

Gwanda

Iyanda²,

Abubakar³

2023

FJS

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In marketplace, it is normally observed that the utility of some items increases with time. For instance, in breweries, the value of some stocked wine increases with time. In farms, the quantity or weight of fish, fast growing animals including broilers, sheep, and so on, increase with time. These phenomena are termed amelioration. In this paper therefore, we study an inventory model that determines the optimal replenishment decision for ameliorating items with stock dependent demand where the holding cost and the rate of amelioration are considered constants. The concept of differential and integral calculus was used to optimize the cost function to obtain numerical examples that illustrate the effects of parameter changes on the decision variables and to find the optimum number of replenishments. The model could be used by the organizations that deal with the relevant items.

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Section: Introductionmentioning

confidence: 99%

An Optimal Decision Model for Ameliorating Inventory Items With Stock Dependent Demand

Gwanda

Iyanda²,

Abubakar³

2023

FJS

View full text Add to dashboard Cite

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Economic Order Quantity (Eoq) Model: Weibull Ameliorating Items With Constant Demand Rate

Zubairu,

Gwanda

2024

FJS

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In this study, we investigate the behavior of inventory items having the potential of incurring significant increase in their utilities or values while in stock in accordance to the Weibull distribution law. The amelioration of an inventory occurs when it remains in stock but depletes as a result of constant demand rate. The Weibull amelioration function plays the role of depicting the amelioration state of an inventory whereas the constant demand function describes the different possible stages of market demand. We describe the application of simple, yet analytical, approach for successful derivation and analyses of the underlying inventory system. We furthermore, analyze the model while providing, for the model, the necessary but sufficient and optimal replenishment policy. We use numerical results and examples to better illustrate the solution and successfully carryout the sensitivity analysis and the evaluation of the model.

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An EPQ Model under Constant Amelioration, Different Deteriorations with Exponential Demand Rate and Completely Backlogged Shortages

Cited by 2 publications

References 2 publications

An Optimal Decision Model for Ameliorating Inventory Items With Stock Dependent Demand

An Optimal Decision Model for Ameliorating Inventory Items With Stock Dependent Demand

Economic Order Quantity (Eoq) Model: Weibull Ameliorating Items With Constant Demand Rate

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