AN EOQ MODEL WITH GENERALIZED RAMP-TYPE DEMAND AND WEIBULL DISTRIBUTION DETERIORATION

S. Panda (), S. Saha () and M. Basu ()
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S. Panda: Department of Mathematics, Bengal Institute of Technology, 1, No. Govt. Colony, Kolkata-700150, West Bengal, India
S. Saha: Department of Mathematics, University of Kalyani, Kalyani-741235, West Bengal, India
M. Basu: Department of Mathematics, University of Kalyani, Kalyani-741235, West Bengal, India

Asia-Pacific Journal of Operational Research (APJOR), 2007, vol. 24, issue 01, 93-109

Abstract: An inventory model is discussed with generalized ramp-type demand where the time to deterioration follows Weibull distribution. Shortages of inventories are allowed and completely backlogged. Total cost is derived by trading off setup cost, holding cost, deterioration cost, and shortage cost. The optimal replenishment policy for a single period is derived by minimizing the total cost per unit time over infinite time horizon. A numerical example is presented and sensitivity analysis is also carried out. The rationale for generalized ramp-type demand is discussed.

Keywords: Inventory; ramp-type demand; deterioration; shortage (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (5)

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DOI: 10.1142/S0217595907001152

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