An Order-Level Inventory Model for a Deteriorating Item with Time-Quadratic Demand and Time-Dependent Partial Backlogging with Shortages in All Cycles

Chowdhury, R. Roy; Ghosh, Santanu Kumar; Chaudhuri, Kripasindhu

doi:10.1080/01966324.2014.881173

Cited by 10 publications

(5 citation statements)

References 51 publications

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“…Items are partial backlogged during the shortage period for those who are interested to wait for the next lot. Chowdhury et al [5] considered an order-level inventory model with time-quadratic demand and partial backlogging. Rastogi et al [25] designed an inventory model for two-warehouse system under partial backlogging with price-dependent demand.…”

Section: Motivation and Review On Researchmentioning

confidence: 99%

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Paul

Pervin²,

Roy

et al. 2021

RAIRO-Oper. Res.

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In this paper, we formulate and solve an economic order quantity model with default risk. Our main purpose is to investigate retailer's optimal replenishment time and credit period for deteriorating items under selling price-dependent demand while maximizing profit per unit time. Here, shortages are allowed and items are partially backlogged for interested customers. We show that optimal replenishment time and credit period not only exist but they are also unique. We solve the proposed problem analytically. An algorithm is presented to derive the optimal solution of the model. The mathematical model is evaluated by numerical examples. We use Mathematica to obtain a global maximum solution to the optimal cycle time and the optimal credit period for the proposed model. A sensitivity analysis with respect to major parameters is performed in order to examine the stability of our model. At the end of the paper, conclusions are drawn and an outlook of possible future directions is depicted.

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Section: Motivation and Review On Researchmentioning

confidence: 99%

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Paul

Pervin²,

Roy

et al. 2021

RAIRO-Oper. Res.

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show abstract

“…Roy [7] recommended a structure for deteriorating goods with cost-based demand, and holding cost of goods are based on time. Chowdhury et al [8] offered an order level system with constant holding cost and quadratic rate of demand. Partial backlogged shortages are allowed.…”

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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“…Goh [7] studied general demand with various holding cost functions. Bose et al [4], Lee and Ying [10] studied inventory model with time dependent consumption rate whereas Chowdhury et al [5] has taken time-quadratic demand function. Teng and Chang [23] has taken demand due to price of product and available stock.Sana and Chaudhuri [19] discusses the demand dependent on advertising.…”

Section: Introductionmentioning

confidence: 99%

Replenishment model for deteriorating items with price dependent demand and complete backlogging in two storage facilities under the effect of inflation

Jindal¹,

Prasher²,

Pathania³

2021

Malaya J. Mat

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An Order-Level Inventory Model for a Deteriorating Item with Time-Quadratic Demand and Time-Dependent Partial Backlogging with Shortages in All Cycles

Cited by 10 publications

References 51 publications

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

Effect of price-sensitive demand and default risk on optimal credit period and cycle time for a deteriorating inventory model

An inventory system for varying decaying medicinal products in healthcare trade

Replenishment model for deteriorating items with price dependent demand and complete backlogging in two storage facilities under the effect of inflation

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