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Background: Physical decay or deterioration of goods in stock is an important feature of real inventory systems. Material and methods: In the present paper, we discuss an production inventory model for a Weibull deteriorating item over a finite planning horizon with a linearly time-varying demand rate and a uniform production rate, allowing shortages, which are completely backlogged. Results and conclusions:...
This paper derives an inventory model is developed for items that deteriorates at a generalized Weibull distributed rate when demand for the items is dependent on the selling price. Shortages are not allowed and price inflation is taken into consideration over finite planning horizon. A brief analysis of the cost involved is carried out by theoretical analysis.
Background: In this paper, an economic production quantity model is considered under a fuzzy environment. Both the demand cost and holding cost are considered using fuzzy pentagonal numbers. The Signed Distance Method is used to defuzzify the total cost function. Methods: The results obtained by these methods are compared with the help of a numerical example. Sensitivity analysis is also carried out...
Background: As in the case of deteriorating items, expiration plays a major role in inventory management, a generalized approach is studied based on an inventory model for deteriorating items with expiration dates. Methods: In this paper, the demand rate during the cycle time is assumed to be trapezoidal. Shortages are allowed and partially backlogged. An inventory replenishment strategy is formulated...
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