Optimal Replenishment Policy for Weibull-Distributed Deteriorating Items with Trapezoidal Demand Rate and Partial Backlogging

Lianxia Zhao

Mathematical Problems in Engineering, 2016, vol. 2016, 1-10

Abstract:

An inventory model for Weibull-distributed deteriorating items is considered so as to minimize the total cost per unit time in this paper. The model starts with shortage, allowed partial backlogging, and trapezoidal demand rate. By analyzing the model, an efficient solution procedure is proposed to determine the optimal replenishment and the optimal order quantity and the average total costs are also obtained. Finally, numerical examples are provided to illustrate the theoretical results and a sensitivity analysis of the major parameters with respect to the stability of optimal solution is also carried out.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:1490712

DOI: 10.1155/2016/1490712

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