Share This Article:

A Production Inventory Model of Power Demand and Constant Production Rate Where the Products Have Finite Shelf-Life

Abstract Full-Text HTML XML Download Download as PDF (Size:622KB) PP. 874-885
DOI: 10.4236/jssm.2015.86088    4,485 Downloads   4,979 Views   Citations

ABSTRACT

A production inventory model has been developed in this paper, basing on constant production rate and market demand, which varies time to time. Seeing the demand pattern the proposed model has been formulated in a power pattern which can be expressed in a linear or exponential form. The model finds the total average optimum inventory cost and optimum time cycle. The model also considers the small amount of decay. Without having backlogs, production starts. Reaching at the desired level of inventories, it stops production. After that due to demands along with the deterioration, it initiates its depletion and after certain periods the inventory gets zero. The model has also been justified with proving the convex property and by giving a numerical example with the sensitivity test.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

Ukil, S. , Ekramol Islam, M. and Uddin, M. (2015) A Production Inventory Model of Power Demand and Constant Production Rate Where the Products Have Finite Shelf-Life. Journal of Service Science and Management, 8, 874-885. doi: 10.4236/jssm.2015.86088.

References

[1] Harris, F.W. (1915) Operations and Costs. A. W. Shaw Company, Chicago, 48-54.
[2] Whitin, T.M. (1957) Theory of Inventory Management. Princeton University Press, Princeton, 62-72.
[3] Ghare, P.M. and Schrader, G.F. (1963) A Model for an Exponential Decaying Inventory. Journal of Industrial Engineering, 14, 238-243.
[4] Sarker, B.R., Mukhaerjee, S. and Balam, C.V. (1997) An Order Level Lot Size Inventory Model with Inventory Level Dependent Demand and Deterioration. International Journal of Production Economics, 48, 227-236.
http://dx.doi.org/10.1016/S0925-5273(96)00107-7
[5] Teng, J.T., Chern, M.S. and Yang, H.L. (1999) Deterministic Lot Size Inventory Models with Shortages and Deteriorating for Fluctuating Demand. Operation Research Letters, 24, 65-72.
http://dx.doi.org/10.1016/S0167-6377(98)00042-X
[6] Skouri, K. and Papachristos, S. (2002) A Continuous Review Inventory Model, with Deteriorating Items, Time Varying Demand, Linear Replenishment Cost, Partially Time Varying Backlogging. Applied Mathematical Modeling, 26, 603-617.
http://dx.doi.org/10.1016/S0307-904X(01)00071-3
[7] Chund, C.J. and Wee, H.M. (2008) Scheduling and Replenishment Plan for an Integrated Deteriorating Inventory Model with Stock Dependent Selling Rate. International Journal of Advanced Manufacturing Technology, 35, 665-679.
http://dx.doi.org/10.1007/s00170-006-0744-7
[8] Cheng, M. and Wang, G. (2009) A Note on the Inventory Model for Deteriorating Items with Trapezoidal Type Demand Rate. Computers and Industrial Engineering, 56, 1296-1300.
http://dx.doi.org/10.1016/j.cie.2008.07.020
[9] Shavandi, H. and Sozorgi, B. (2012) Developing a Location Inventory Model under Fuzzy Environment. International Journal of Advanced Manufacturing Technology, 63, 191-200.
http://dx.doi.org/10.1007/s00170-012-3897-6
[10] Chang, H.J. and Dye, C.Y. (1999) An EOQ Model for Deteriorating Items with Time Varying Demand and Partial Backlogging. Journal of the Operation Research Society, 50, 1176-1182.
http://dx.doi.org/10.1057/palgrave.jors.2600801
[11] Tripathy, C.K. and Mishra, U. (2010) Ordering Policy for Weibull Deteriorating Items for Quadratic Demand with Permissible Delay in Payments. Applied Mathematical Science, 4, 2181-2191.
[12] Sarkar, B., Sana, S.S. and Chaudhuri, K. (2013) An Inventory Model with Finite Replenishment Rate, Trade Credit Policy and Price Discount Offer. Journal of Industrial Engineering, 2013, 1-18.
[13] Khieng, J.H., Labban, J. and Richard, J.L. (1991) An Order Level Lot Size Inventory Model for Deteriorating Items with Finite Replenishment Rate. Computers Industrial Engineering, 20, 187-197.
http://dx.doi.org/10.1016/0360-8352(91)90024-Z
[14] Ekramol, M.I. (2004) A Production Inventory Model for Deteriorating Items with Various Production Rates and Constant Demand. Proceedings of the Annual Conference of KMA and National Seminar on Fuzzy Mathematics and Applications, Payyanur, 8-10 January 2004, 14-23.
[15] Ekramol, M.I. (2007) A Production Inventory with Three Production Rates and Constant Demands. Bangladesh Islamic University Journal, 1, 14-20.
[16] Mishra, V.K., Singh, L.S. and Kumar, R. (2013) An Inventory Model for Deteriorating Items with Time Dependent Demand and Time Varying Holding Cost under Partial Backlogging. Journal of Industrial Engineering International, 9, 1-4.
http://dx.doi.org/10.1186/2251-712x-9-4
[17] Aggarwal, S.P. (1978) A Note on an Order Level Inventory Model for a System Constant Rate of Deterioration. Opsearch, 15, 184-187.
[18] Ukil, S.I., Ahmed, M.M., Sultana, S. and Uddin, M.S. (2015) Effect on Probabilistic Continuous EOQ Review Model after Applying Third Party Logistics. Journal of Mechanics of Continua and Mathematical Science, 9, 1385-1396.
[19] Sivazlin, B.D. and Stenfel, L.E. (1975) Analysis of System in Operations Research. 203-230.
[20] Shah, Y.K. and Jaiswal, M.C. (1977) Order Level Inventory Model for a System of Constant Rate of Deterioration. Opsearch, 14, 174-184.
[21] Dye, C.Y. (2007) Joint Pricing and Ordering Policy for a Deteriorating Inventory with Partial Backlogging. Omega, 35, 184-189.
http://dx.doi.org/10.1016/j.omega.2005.05.002
[22] Billington, P.L. (1987) The Classic Economic Production Quantity Model with Set up Cost as a Function of Capital Expenditure. Decision Series, 18, 25-42.
http://dx.doi.org/10.1111/j.1540-5915.1987.tb01501.x
[23] Pakkala, T.P.M. and Achary, K.K. (1992) A Deterministic Inventory Model for Deteriorating Items with Two Warehouses and Finite Replenishment Rate. European Journal of Operational Research, 57, 71-76.
http://dx.doi.org/10.1016/0377-2217(92)90306-T
[24] Abad, P.L. (1996) Optimal Pricing and Lot Sizing under Conditions of Perish ability and Partial Backordering. Management Science, 42, 1093-1104.
http://dx.doi.org/10.1287/mnsc.42.8.1093
[25] Singh, T. and Pattnayak, H. (2013) An EOQ Model for Deteriorating Items with Linear Demand, Variable Deterioration and Partial Backlogging. Journal of Service Science and Management, 6, 186-190.
http://dx.doi.org/10.4236/jssm.2013.62019
[26] Singh, T. and Pattnayak, H. (2012) An EOQ Model for a Deteriorating Item with Time Dependent Exponentially Declining Demand under Permissible Delay in Payment. IOSR Journal of Mathematics, 2, 30-37.
http://dx.doi.org/10.9790/5728-0223037
[27] Singh, T. and Pattnayak, H. (2013) An EOQ Model for a Deteriorating Item with Time Dependent Quadratic Demand and Variable Deterioration under Permissible Delay in Payment. Applied Mathematical Science, 7, 2939-2951.
[28] Amutha, R. and Chandrasekaran, E. (2013) An EOQ Model for Deteriorating Items with Quadratic Demand and Tie Dependent Holding Cost. International Journal of Emerging Science and Engineering, 1, 5-6.
[29] Ouyang, W. and Cheng, X. (2005) An Inventory Model for Deteriorating Items with Exponential Declining Demand and Partial Backlogging. Yugoslav Journal of Operation Research, 15, 277-288.
http://dx.doi.org/10.2298/YJOR0502277O
[30] Dave, U. and Patel, L.K. (1981) Policy Inventory Model for Deteriorating Items with Time Proportional Demand. Journal of the Operational Research Society, 32, 137-142.

  
comments powered by Disqus

Copyright © 2018 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.