Imperfect production process with exponential demand rate, Weibull deterioration under inflation

Chaman Singh and S.R. Singh

International Journal of Operational Research, 2011, vol. 12, issue 4, 430-445

Abstract: In this research, an integrated production inventory model is developed from the perspective of both the manufacturer and the retailer. The model assumes exponential demand rate, production rate is demand dependent under the inflation, imperfect production process and multiple deliveries. We have assumed that the produced items deteriorates at a constant rate at the producer’s end due to the proper storages conditions, and as the items reaches the retailer’s end follows the Weibull deterioration. Shortages are allowed at the retailer’s part only and the unfulfilled demand is partially backlogged. A numerical example along with sensitivity analysis is given to illustrate the model. Integrated cost policy is compared with the independent decisions made by the manufacturer and the retailer’s and the necessary conclusions are made. Mathematica5.2 is being used to reach the optimal policies.

Keywords: exponential demand rates; imperfect processes; production processes; inflation; partial back-ordering; Waloddi Weibull; deterioration rates; integrated models; production inventories; inventory models; manufacturers; retailers; production rates; multiple deliveries; constant rates; storage conditions; sensitivity analysis; integrated costs; independent decisions; Mathematica 5.2; operational research. (search for similar items in EconPapers)
Date: 2011
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