An EOQ model for items with Weibull distribution deterioration, shortages and trended demand: An extension of Philip's model

Chakrabarty, Tina; Giri, Bibhas C.; Chaudhuri, Kripasindhu

doi:10.1016/s0305-0548(97)00081-6

Cited by 148 publications

(71 citation statements)

References 7 publications

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“…In recent research, more and more studies have begun to consider the relationship between time and deteriorating rate. In this situation there are several scenarios: deteriorating rate is a linear increasing function of time (Mukhopadhyay et al 2004), deteriorating rate is three-parameter Weibull distributed (Chakrabarty et al 1998), and deteriorating rate is other function of time (Abad 2001). Under fuzzy environment, the readers are referred to Taleizadeh et al (2010); Taleizadeha et al (2013c) and their references.…”

Section: Introduction and Literature Reviewmentioning

confidence: 99%

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Rajan¹,

Uthayakumar

2017

J Ind Eng Int

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In this paper we develop an economic order quantity model to investigate the optimal replenishment policies for instantaneous deteriorating items under inflation and trade credit. Demand rate is a linear function of selling price and decreases negative exponentially with time over a finite planning horizon. Shortages are allowed and partially backlogged. Under these conditions, we model the retailer's inventory system as a profit maximization problem to determine the optimal selling price, optimal order quantity and optimal replenishment time. An easy-to-use algorithm is developed to determine the optimal replenishment policies for the retailer. We also provide optimal present value of profit when shortages are completely backlogged as a special case. Numerical examples are presented to illustrate the algorithm provided to obtain optimal profit. And we also obtain managerial implications from numerical examples to substantiate our model. The results show that there is an improvement in total profit from complete backlogging rather than the items being partially backlogged.

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Section: Introduction and Literature Reviewmentioning

confidence: 99%

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Rajan¹,

Uthayakumar

2017

J Ind Eng Int

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“…Covert and Philip (1973) extended Ghare and Schrader's model and obtained an economic order quantity model for variable rate of deterioration by assuming a two-parameter Weibull distribution. Researchers such as Philip (1974), Misra (1975), Tadikamalla (1978), Wee (1997), Chakrabarty et al (1998), and Mukhopadhyay et al (2004) developed economic order quantity models by concentrating on this type of products. Abad (1996) considered a pricing and lot sizing problem for a product with variable rate of deterioration and partial backlogging.…”

Section: Introductionmentioning

confidence: 99%

Pricing and inventory control policy for non-instantaneous deteriorating items with time- and price-dependent demand and partial backlogging

Farughi¹,

Khanlarzade²,

Yegane³

2014

10.5267/j.dsl

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Determining the optimal inventory control and selling price for deteriorating items is of great significance. In this paper, a joint pricing and inventory control model for deteriorating items with price-and time-dependent demand rate and time-dependent deteriorating rate with partial backlogging is considered. The objective is to determine the optimal price, the replenishment time, and economic order quantity such that the total profit per unit time is maximized. After modeling the problem, an algorithm is proposed to solve the resulted problem. We also prove that the problem statement is concave function and the optimal solution is indeed global.

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“…Kuo-Lung Hou [4] derived an inventory model for deteriorating items with stock-dependent consumption rate and shortages under inflation and time discounting over a finite planning horizon..Sahoo et al [5] developed an inventory model for constant deteriorating items under the assumption that the demand rate is a function of selling price . Chakrabarti et al [6] considerd an EOQ model with three parameter weibull distributed deteriorating items.…”

Section: Introductionmentioning

confidence: 99%

An EOQ Model for Deteriorating Items with Fuzzy Demand and Fuzzy Partial Backlogging

Kundu¹

2012

IOSR-JM

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An EOQ model for items with Weibull distribution deterioration, shortages and trended demand: An extension of Philip's model

Cited by 148 publications

References 7 publications

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Pricing and inventory control policy for non-instantaneous deteriorating items with time- and price-dependent demand and partial backlogging

An EOQ Model for Deteriorating Items with Fuzzy Demand and Fuzzy Partial Backlogging

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