 Production policy for ameliorating/deteriorating items with ramp type demandS.K. Goyal, S.R. Singh and Himani Dem International Journal of Procurement Management, 2013, vol. 6, issue 4, 444-465 Abstract: The present work emphasises on livestock production systems having demand varying according to season. Almost all the inventory models have been developed based on such products assuming that all units ameliorate till the stock lasts. However, we have considered a more practical approach considering the gap between the time up to which the entire produced lot ameliorates and the time up to which stock depletes fully. Seasonal variations are commonly observed in livestock consumption across geographies. Therefore, demand varying production is the key to control the yield to avoid the loss due to overstocking. The purpose of this study is to determine the optimal production running, amelioration and shortage time so as to minimise the total relevant cost of the system. A genetic algorithm (GA) has been scripted to solve the mathematically developed economic production quantity (EPQ) model. Numerical examples and some sensitivity analyses are presented to illustrate the model. Keywords: production policy; ameliorating items; deteriorating items; ramp type demand; time varying demand; amelioration; shortages; genetic algorithms; livestock production; inventory modelling; overstocking; economic production quantity; EPQ model. (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:ijpman:v:6:y:2013:i:4:p:444-465 Access Statistics for this article More articles in International Journal of Procurement Management from Inderscience Enterprises Ltd |
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