 Replenishment decision for ameliorating inventory with time dependent demand and partial backlogging rateYusuf Ibrahim Gwanda and Vijay Vir Singh International Journal of Operational Research, 2023, vol. 46, issue 4, 571-584 Abstract: In contrast to deterioration, amelioration refers to a situation where stocked items incur increased value, quantity, or utility while in stock. It is generally seen in poultry, piggeries, wine industries, etc.; when these items are kept in the farm or the sales counter, they usually incur increase in quantity and value. In this research, we study an inventory model that outlines the optimal replenishment decision for ameliorating items with a partially backlogged time-varying demand rate to raise productivity and understand opportunity cost due to lost sales. Until recently, most of the research in inventory has been focused essentially on deteriorating inventory, giving little or no attention to its ameliorative nature. Therefore, in this research, we developed an EOQ model for such items with time dependent demand and partial backlogging rate. Using differential calculus concept, the various inventory optimising functions, like total cost, number of replenishments, backlogging factors, etc., are computed. Keywords: ameliorating inventory; time dependent demand; replenishment decision; partial backlogging; lost sales. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:46:y:2023:i:4:p:571-584 Access Statistics for this article More articles in International Journal of Operational Research from Inderscience Enterprises Ltd |
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