Inventory model with multivariate demands in different phases with customer returns and inflation

S.R. Singh, Seema Sharma and Sanjay Singh

International Journal of Mathematics in Operational Research, 2016, vol. 8, issue 4, 477-489

Abstract: This paper presents an EOQ model of deteriorating item with the demand depending on three significant factors like inventory level, time and price. Shortages are allowed and partially backordered with a time dependent rate. The concept of customer returns as a function of price and demand has been included. A profit function is formulated and maximised for the considered system. A numerical example has been given to illustrate the model and sensitivity analysis is performed in order to examine the impact of various parameters on the optimal policy.

Keywords: customer returns; partial backlogging; inflation; deterioration; inventory modelling; inventory management; multivariate demand; EOQ model; economic order quantity; deteriorating items; inventory level; time dependent demand; price dependent demand. (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=76788 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmore:v:8:y:2016:i:4:p:477-489

Access Statistics for this article

More articles in International Journal of Mathematics in Operational Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().