An inventory model under inflation for stock dependent consumption rate items

Vrat, Prem; Padmanabhan, G.

doi:10.1016/0167-188x(90)90068-s

Cited by 41 publications

(16 citation statements)

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“…Benkherouf (1995), Hariga (1996), Giri et al (2000), Teng et al (2002), Chaudhary et al (2011), and Dem and Singh (2013), all developed for inventory system with time-varying demand. Vrat and Padmanabhan (1990), Chung et al (2000), Giri and Chaudhuri (1998), Wu et al (2006), andSingh et al (2010) used inventory level-dependent demand. Wee and Law (1999), and Kumar et al (2012) studied price-dependent demand.…”

Section: Introductionmentioning

confidence: 99%

A note on the inventory models for deteriorating items with Verhulst's model type demand rate

Chauhan

Singh

2015

IJOR

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In this paper, we introduce the inventory model for deteriorating items with Verhulst's model type demand rate, that is, the integrated demand pattern for growth and maturity stage to the final decay stage for single-period products. We developed an inventory replenishment policy and found the Verhulst's model type demand rate is more applicable than ramp type demand rate model and trapezoidal type demand rate model in the stage of product life cycle. This paper provides interesting facts for the further study of such kind of demand rates. Numerical examples and solution procedure are presented to demonstrate the developed model.Reference to this paper should be made as follows: Chauhan, A. and Singh, A.P. (2015) 'A note on the inventory models for deteriorating items with Verhulst's model type demand rate', Int.

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Section: Introductionmentioning

confidence: 99%

A note on the inventory models for deteriorating items with Verhulst's model type demand rate

Chauhan

Singh

2015

IJOR

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“…The pioneer research in this direction was by Buzacott [15] who developed an EOQ model with inflation subject to different types of pricing policies. Vrat and Padmanabhan [16] developed an inventory model under a constant inflation rate for initial stock-dependent consumption rate. Later, Chung and Lin [17], Wee and Law [18], Sana and Chaudhuri [19] have investigated the effects of inflation, time value of money and deterioration on inventory models.…”

Section: Introductionmentioning

confidence: 99%

Replenishment policy for single item inventory model with money inflation

Uthayakumar

Geetha

2009

OPSEARCH

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Finding out the replenishment policy is a hot topic of research in inventory management. In this article, we propose an optimal replenishment policy by considering stock dependent consumption rate for non instantaneous deteriorating items with money inflation and time discounting. In this model shortages are allowed and backlogging is partial. Solution procedure is given and explained with examples. The impact of various parameters of the system on the optimal solution is analyzed by carrying out sensitivity analysis with perturbations in various parameters.

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“…In the same year, Misra (1975) also developed an EOQ model incorporating inflationary effects. Vrat and Padmanabhan (1990) developed an inventory model under a constant inflation rate for initial stock-dependent consumption rate. Datta and Pal (1991) developed a model with linear time-dependent demand rate and shortages to investigate the effects of inflation and time value of money on ordering policy over a finite time horizon.…”

Section: Introductionmentioning

confidence: 99%