An Inventory Model for Items with Two Parameter Weibull Distribution Deterioration and Backlogging

Nandagopal Rajeswari, Thirumalaisamy Vanjikkodi

Sri GVG Visalakshi College for Women, Udumalpet, India.

DOI: 10.4236/ajor.2012.22029                

Abstract

In this paper an inventory model is developed with time dependent power pattern demand and shortages due to deterioration and demand. The deterioration is assumed to follow a two parameter Weibull distribution. Three different cases with complete, partial, no backlogging are considered. The optimal analytical solution of the model is derived. Suitable numerical example has been discussed to understand the problem. Further sensitivity analysis of the decision variables has been done to examine the effect of changes in the values of the parameters on the optimal inventory policy.

Keywords

Inventory; Weibull Deterioration; Shortages; Power Demand; Partial Backlogging; Complete Backlogging

Conflicts of Interest

The authors declare no conflicts of interest.

References

[1]	G. Hadley and T. M. Whitin, “Analysis of Inventory Systems,” Prentice-Hall, New Jersey, 1963.
[2]	P. M. Ghare and G. F. Schrader, “A Model for an Exponentially decaying Inventory,” Journal of Industrial Engineering, Vol. 14, 1963, pp. 238-243.
[3]	R. P. Covert and G. C. Philip, “An EOQ Model for Deteriorating Items with Weibull Distributions Deterioration” AIIE Transactions, Vol. 5, No. 4, 1973, pp. 323-332. doi:10.1080/05695557308974918
[4]	U. Dave and L. K. Patel, “(T, Si) Policy Inventory Model for Deteriorating Items with Time Proportional Demand,” Journal of the Operational Research Society, Vol. 32, 1981, pp. 137-142.
[5]	R. S. Sachan, “On (T, Si) Policy Inventory Model for Deteriorating Items with Time Proportional Demand,” Journal of the Operational Research Society, Vol. 35, No. 11, 1984, pp. 1013-1019.
[6]	V. P. Goel and S. P. Aggarwal, “Order Level Inventory System with Power Demand Pattern for Deteriorating Items,” Proceedings of the All India Seminar on Operational Research and Decision Making, University of Delhi, New Delhi, 1981, pp. 19-34.
[7]	T. K. Datta and A. K. Pal, “Order Level Inventory System with Power Demand Pattern for Items with Variable Rate of Deterioration,” Indian Journal of Pure and Applied Mathematics, Vol. 19, No. 11, 1988, pp. 1043-1053.
[8]	H. J. Chang and C. Y. Dye, “An EOQ Model for Deteriorating Items with Time Varying Demand and Partial Backlogging,” Journal of the Operational Research Society, Vol. 50, No. 11, 1999, pp. 1176-1182.
[9]	S. R. Singh and T. J. Singh, “An EOQ Inventory Model with Weibull Distribution Deterioration, Ramp Type Demand and Partial Backlogging,” Indian Journal of Mathematics and Mathematical Sciences, Vol. 3, No. 2, 2007, pp. 127-137.
[10]	T. J. Singh, S. R. Singh and R. Dutt, “An EOQ Model for Perishable Items with Power Demand and Partial Backlogging,” International Journal of Production Economics, Vol. 15, No. 1, 2009, pp. 65-72.
[11]	C. K. Tripathy and L. M. Pradhan, “An EOQ Model for Weibull Deteriorating Items with Power Demand and Partial Backlogging,” International Journal of Contemporary Mathematical Sciences, Vol. 5, No. 38, 2010, pp. 1895-1904.