An inventory model with weibull deterioration rate, three-phase ramp type demand and partial backlogging

Monteiro, Ashma Dorothy (2010) An inventory model with weibull deterioration rate, three-phase ramp type demand and partial backlogging. In: International Conference on OPERATIONAL RESEARCH FOR URBAN AND RURAL DEVELOPMENT (ORURD), 15-17 Dec 2010, Madurai. (Submitted)

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Abstract

The demand pattern of products varies all throughout their life cycle. These variations have to be properly reflected in the management of inventory in order to prevent excess inventory or stock out case. Goods are sold at a faster rate when they are new and attractive. There is a constant rate of sale when the goods are in the peak of their life cycle but are sold at a slower rate at the end of their life cycle. The three phases represent the growth, the steady demand and the decline phase. In this paper, a single period inventory model with three-phase ramp type demand, Weibull deterioration rate and partial backlogging of unfulfilled demand is considered. It is assumed that the model starts with no shortages. The backlogging rate is any non increasing function of the waiting time up to the next replenishment. The optimal replenishment policy for the model is derived. A numerical example for the model is considered. The Optimal Replenishment policy and the total cost has been computed.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Inventory; Ramp type demand; Weibull deterioration; Partial backlogging.
Subjects: Departments at MU > Statistics
Depositing User: KMC Manipal
Date Deposited: 28 Apr 2014 04:30
Last Modified: 28 Apr 2014 04:30
URI: http://eprints.manipal.edu/id/eprint/139459

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