 Inventory model for deteriorating items with time and reliability dependent demand and partial backorderG.S. Mahapatra, Sudip Adak, T.K. Mandal and Shilpi Pal International Journal of Operational Research, 2017, vol. 29, issue 3, 344-359 Abstract: The objective of this paper is to show how providing high-quality reliable products and balancing of the stock availability to maintain customer satisfaction can be the key factor in governing the inventory management of a company which in turn can increase its market share, productivity, and profitability. So, an economic order quantity (EOQ) model is developed to analyse the effect of reliability and time-based demand rate on inventory management system. The effect of constant deterioration and shortages are permitted with partial backlogging. The core objective of a good inventory management system is to provide the best possible customer service within the restraint of the lowest practical inventory costs. Thus, a minimisation of the total inventory cost has been tried to achieve with optimisation of inventory. To support our study, we have illustrated it with a numerical example and finally, sensitivity analysis is carried out to find the effect of the parameters on the optimal solution. Keywords: inventory; deterioration; shortage; backorder; reliability. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:29:y:2017:i:3:p:344-359 Access Statistics for this article More articles in International Journal of Operational Research from Inderscience Enterprises Ltd |
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