An Inventory Model for Deteriorating Items Having Seasonal and Stock-Dependent Demand with Allowable Shortages

Singh, S.R.; Rastogi, Mohit; Tayal, Shilpy

doi:10.1007/978-981-10-0451-3_46

Cited by 13 publications

(4 citation statements)

References 13 publications

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“…Choudhury et al (2015) framed an inventory model considering stock-dependent demand rate with allowable shortages. Singh et al (2016a) developed an inventory model for deteriorating items having seasonal and stock-dependent demand with allowable shortages.…”

Section: Introductionmentioning

confidence: 99%

Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand

Bardhan¹,

Pal

Giri

2017

Oper Res Int J

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An inventory model with stock-dependent demand and non-instantaneous deterioration is developed in this paper. It is assumed that the item starts deteriorating at a constant rate after a certain period of time from the instant of receiving the delivery by the retailer. The retailer can reduce the rate of deterioration by investing in preservation technology. Depending on the fact that the on-hand stock may be finished before or after deterioration starts, two different inventory scenarios have been considered and analyzed. Optimal length of an inventory cycle as well as investment in preservation technology have been obtained in both the scenarios. Certain conditions have also been derived to identify situations where the retailer should or should not invest in preservation technology. The proposed model is illustrated with a numerical example.

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Section: Introductionmentioning

confidence: 99%

Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand

Bardhan¹,

Pal

Giri

2017

Oper Res Int J

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“…Mishra et al [22] proposed a system for deteriorating items by using salvage value. Singh [23] preferred the policy of inventory for decaying products with deficiency and different condition of backlogging. They assumed demand rate is seasonal pattern and stock-based.…”

Section: Literature Reviewmentioning

confidence: 99%

An inventory system for varying decaying medicinal products in healthcare trade

Kumar

Kumar²,

2021

YUGOSLAV J OPERATION

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This paper introduces an inventory system for declining medicinal products under the effect of ination with price-sensitive demand. Usually, pharmaceutical inventory systems assume the deteriorating rate as constant, which is insignificant and illogical because healthcare products medicines and drugs deteriorate significantly. Thus, the deteriorating rate of medicinal products is supposed to be time-dependent and to follow three-parameter Weibull distribution. The lack of commodities is permitted with the rate of partial backlogging. This research work develops a model to optimize the total average cost of the items by calculating the ordering quantity and the optimum time intervals. Finally, through a numerical example, with sensitivity analysis, we demonstrate the effect of different parameters.

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“…Some items are seasonal and their demand is also based as per their need and season, so, by considering this fact in mind, [20]explained and presented an inventory model by allowable shortages and deteriorating items having seasonal and stock-dependent demand. The demand in most of the study was assumed to be single parameter based but [21] assumed the demand a function of price and stock dependent and presented an optimal pricing and ordering policy for deterioration under partial backlogging. Inventory preservation also plays important role in the management of inventory models, by assuming revenue sharing on preservation an inventory model under price-sensitive and stock-dependent demand was developed by [22].…”

Section: Introductionmentioning

confidence: 99%

An Inventory Control Model for Deteriorating Items Under Demand Dependent Production with Time and Stock Dependent Demand

Sharma¹,

Tyagi²,

Verma³

et al. 2022

International Journal of Operations and Quantitative Management

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In inventory control models where most of the studies are focused on demand, it is obvious that the profit can only be improved by handling the demand of the items according to the fluctuations and pattern of the market ups and downs. In most of the models, demand is taken as time-dependent, pricedependent, and stock-dependent for one complete cycle of the model, which is not realistic in the case of low-life products with a high rate of deterioration like milk products, vegetables. It is also not possible to fix the demand for such items for the entire cycle of the model. In the current study, we have assumed different demands at the different stage of the model which can help to improve the profit as well as to control the deterioration. We have assumed timedependent demand from the initial to the end of the stock level, after that we have assumed demand as price dependent which is the key of the current study and a better approach for handling low-life items. For low-life items, production is also a very important key parameter as it can directly affect the profit. Therefore, in the current study, we have assumed production of items as demand dependent and deterioration is taken time-dependent, a shortage is allowed under partial backlogging. The model is validated by taking numerical data along with a real example based on the model.

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An Inventory Model for Deteriorating Items Having Seasonal and Stock-Dependent Demand with Allowable Shortages

Cited by 13 publications

References 13 publications

Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand

Optimal replenishment policy and preservation technology investment for a non-instantaneous deteriorating item with stock-dependent demand

An inventory system for varying decaying medicinal products in healthcare trade

An Inventory Control Model for Deteriorating Items Under Demand Dependent Production with Time and Stock Dependent Demand

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