2011International Journal of Management Science and Engineering ManagementRequires access

Deteriorating inventory model for time dependent demand and holding cost with partial backlogging

Vinod Kumar Mishra, Lal Sahab Singh

Open publisher page 55 citations

Abstract

In most of the deteriorating items inventory model the holding cost and demand rate has considered as a constant function. But in realistic situation these cost varying according to time. So in this paper, we developed a deterministic deteriorating inventory model in which demand rate and holding cost both is linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total inventory cost. The model is tested for a set of parameter and results indicate that the model is quite stable. The model can be applied for optimizing the total inventory cost of deteriorating items inventory for a business enterprise where demand and holding cost both is linear function of time.

About this research paper

What this paper is about

In most of the deteriorating items inventory model the holding cost and demand rate has considered as a constant function. But in realistic situation these cost varying according to time. So in this paper, we developed a deterministic deteriorating inventory model in which demand rate and holding cost both is linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total inventory cost. The model is tested for a set of parameter and results indicate that the model is quite stable. The model can be applied for optimizing the total inventory cost of deteriorating items inventory for a business enterprise where demand and holding cost both is linear function of time.

Why it matters

OpenAlex reports 55 citations for this work. Citation counts describe recorded attention and do not establish research quality.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

In most of the deteriorating items inventory model the holding cost and demand rate has considered as a constant function. But in realistic situation these cost varying according to time. So in this paper, we developed a deterministic deteriorating inventory model in which demand rate and holding cost both is linear function of time, deterioration rate is constant, backlogging rate is variable and depend on the length of the next replenishment, shortages are allowed and partially backlogged. The model is solved analytically by minimizing the total inventory cost. The model is tested for a set of parameter and results indicate that the model is quite stable. The model can be applied for optimizing the total inventory cost of deteriorating items inventory for a business enterprise where demand and holding cost both is linear function of time.

Key concepts: Holding cost, Economic shortage, Inventory cost, Carrying cost, Constant (computer programming), Function (biology), Total cost, Variable (mathematics)

Related papers

Back to paper searchBrowse research topicsOriginal source
Deteriorating inventory model for time dependent demand and holding cost with partial backlogging — Research Paper | ScholarLens