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International Transactions in Applied SciencesJuly-september 2016 Vol:8 Issue:3

An economic lot-size inventory model for exponential demand with learning effect and Weibull deterioration under waiting time dependent partial backlogging

Abstract

The article has established an economic order lot-size inventory model in realistic approach. We have considered the two parametric Weibull deterioration which is a much more practical than the other deteriorating rates. Demand is taken to be exponentially decreasing function of time. The effect of learning is taken into consideration. Shortages are allowed and partially backlogged. Backlogging rate is assumed to be the exponentially decreasing function of the waiting time, that is; as the waiting time increases, backlogging rate decreases as well. Holding cost is considered as time varying. A mathematical formulation has been done to find the optimal replenishment policy for the given problem. Numerical analysis is presented to illustrate the problem. Finally a sensitivity analysis is also reported.

Author

Sudhir Kumar, R. K. Sharma ( Pages 201-217 )
Email:sudhirsk19@gmail.com
Affiliation: Department of Mathematics S.G. (P.G) College, Sarurpur Khurd, Meerut (U.P), India DOI:

Keyword

Inventory; Weibull deterioration; Partial Backlogging; Learning Effect;

References

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