Selling Price Dependent Demand with Allowable Shortages Model Under Partially Backlogged—Deteriorating Items
| Autor: | Umakanta Misra, S. K. Indrajitsingha, P. N. Samanta, Abhaya Kumar Sahoo |
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| Rok vydání: | 2019 |
| Předmět: |
021103 operations research
Applied Mathematics 05 social sciences Commodity 0211 other engineering and technologies Holding cost Economic shortage 02 engineering and technology Purchasing Supply and demand Deterioration rate Computational Mathematics Inventory management 0502 economics and business System parameters Economics Econometrics 050203 business & management |
| Zdroj: | International Journal of Applied and Computational Mathematics. 5 |
| ISSN: | 2199-5796 2349-5103 |
| DOI: | 10.1007/s40819-019-0670-7 |
| Popis: | In this paper an inventory model for items with linear deterioration rate is studied. Demand depends upon the selling price of the commodity i.e. if selling price increases, the market demand decreases and vice versa. Shortages allowed and partially backlogged. There is neither repair nor replacement of deteriorated units occurring during the cycle. The ordering cost, purchasing cost, deteriorating cost, holding cost and the lost sale cost are considered in the inventory management. The model is solved analytically by minimizing the total inventory cost. Finally results are analyzed and demonstrated with illustrative numerical example. Sensitivity analysis is carried out to study the changing of different system parameters of this model. |
| Databáze: | OpenAIRE |
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