An Inventory Model with Power Demand Pattern, Weibull Distribution Deterioration and without Shortages

Abstract

Abstract. An inventory problem can be solved by using several methods starting from trial and error methods to mathematical and simulation methods. Mathematical methods help in deriving certain rule and which may suggest how to minimize the total inventory cost in case of deterministic demand. Here an attempt has been made for obtaining a deterministic inventory model for power demand pattern incorporating two-parameter Weibull distribution deterioration and without shortages.

Production Inventory System under Weibull Amelioration, Pareto Deterioration and Exponentially Time Based Demand under Fully Backlogged Shortages

“…Lan, Yu, Lin, Tung, Yen and Deng [4] had presented a note on the improved algebric method for the EPQ model with stochastic lead time. Shamsi, Haji, Shadrokh and Nourbakhsh [13] published their work on economic production quantity in reworkable production systems with inspection errors, scraps and backlogging. Wee, Wang and Yang [5] had formulated a production quantity model for imperfect quality items with shortage and screening constraint.…”