Improvement for Amelioration Inventory Model with Weibull Distribution

Han-Wen Tuan, Shu-Cheng Lin and Peterson Julian

Mathematical Problems in Engineering, 2017, vol. 2017, 1-8

Abstract:

Most inventory models dealt with deteriorated items. On the contrary, just a few papers considered inventory systems under amelioration environment. We study an amelioration inventory model with Weibull distribution. However, there are some questionable results in the amelioration paper. We will first point out those questionable results in the previous paper that did not derive the optimal solution and then provide some improvements. We will provide a rigorous analytical work for different cases dependent on the size of the shape parameter. We present a detailed numerical example for different ranges of the sharp parameter to illustrate that our solution method attains the optimal solution. We developed a new amelioration model and then provided a detailed analyzed procedure to find the optimal solution. Our findings will help researchers develop their new inventory models.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:8946547

DOI: 10.1155/2017/8946547

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