Two-warehouse partial backlogging inventory models for deteriorating items under inflation

Yang, Hui‐Ling

doi:10.1016/j.ijpe.2005.09.003

Cited by 124 publications

(70 citation statements)

References 21 publications

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“…Zhou and Yang (2005) derived the model for two warehouses with stock-level-dependent demand. Yang (2006) developed two-warehouse partial backlogging inventory models for deteriorating items under inflation. Lee (2006) investigated two-warehouse inventory model with deterioration under FIFO dispatching policy.…”

Section: Literature Reviewmentioning

confidence: 99%

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

Udayakumar

Geetha

2017

J Ind Eng Int

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A deterministic inventory model with two levels of storage (own warehouse and rented warehouse) with non-instantaneous deteriorating items is studied. The supplier offers the retailer a trade credit period to settle the amount. Different scenarios based on the deterioration and the trade credit period have been considered. In this article, we have framed two models considering single warehouse (Model-I) and two warehouses (Model-II) for non-instantaneous deteriorating items. The objective of this work is to minimize the total inventory cost and to find the optimal length of replenishment and the optimal order quantity. Mathematical theorems have been developed to determine the existence and the uniqueness of the optimal solution. Computational algorithms for the two different models are designed to find the optimal order quantity and the optimal cycle time. Comparison between the optimal solutions for the two models is also given. Numerical illustrations and managerial insights obtained demonstrate the application and the performance of the proposed theory.

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Section: Literature Reviewmentioning

confidence: 99%

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

Udayakumar

Geetha

2017

J Ind Eng Int

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“…In addition, the allowable shortage as partial backlogging for deteriorating items was investigated for four various inventory models. Yang (2006) developed the model of by considering the partial backlogging. Then, two models of two-warehouse inventory control model based on cost minimizing target function were compared.…”

Section: Uniform Demandmentioning

confidence: 99%

Inventory control with deteriorating items: A state-of-the-art literature review

Khanlarzade¹,

Yegane²,

Kamalabadi³

et al. 2014

10.5267/j.ijiec

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The present study reviews different studies on inventory control of deteriorating items in chain supply published over the period 1963-2013. The study investigates supply chain of the items in terms of various perspectives. Finally, the summary of the studies is shown in two tables for oneechelon and multi-echelon supply chain including the main information and assumptions of each paper. In the mentioned tables, the papers were classified in terms of the type of demand rate, deterioration rate, solution procedure and findings. It can be said that no analysis on the results was done in the present study and it can be only used as a good reference in the study field for other researchers.

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“…(Abad, 1996) first developed a pricing and ordering policy for a variable rate of deterioration with partially backlogged shortages. Later to reflect this phenomenon, (Yang, 2006) modified (Yang, 2004) model for partially backlogged shortages. Dye et al (2007) modified the (Abad, 1996) model taking into consideration the backorder cost and lost sale.…”

Section: Introductionmentioning

confidence: 99%

“…Further, (Yang, 2012) extended (Yang, 2006) model for the three-parameter Weibull deterioration distribution. Recently, explored the effect of FIFO and LIFO dispatching policies in a two warehouse inventory system for deteriorating items with partially backlogged shortages.…”

Section: Introductionmentioning

confidence: 99%

Two-warehouse inventory model for deteriorating items with price-sensitive demand and partially backlogged shortages under inflationary conditions

Jaggi¹,

Pareek²,

Khanna³

et al. 2015

10.5267/j.ijiec

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In today's competition inherited business world, managing inventory of goods is a major challenge in all the sectors of economy. The demand of an item plays a significant role while managing the stock of goods, as it may depend on several factors viz., inflation, selling price, advertisement, etc. Among these, selling price of an item is a decisive factor for the organization; because in this competitive world of business one is constantly on the lookout for the ways to beat the competition. It is a well-known accepted fact that keeping a reasonable price helps in attracting more customers, which in turn increases the aggregate demand. Thus in order to improve efficiency of business performance organization needs to stock a higher inventory, which needs an additional storage space. Moreover, in today's unstable global economy there is consequent decline in the real value of money, because the general level of prices of goods and services is rising (i.e., inflation). And since inventories represent a considerable investment for every organization, it is inevitable to consider the effects of inflation and time value of money while determining the optimal inventory policy. With this motivation, this paper is aimed at developing a two-warehouse inventory model for deteriorating items where the demand rate is a decreasing function of the selling price under inflationary conditions. In addition, shortages are allowed and partially backlogged, and the backlogging rate has been considered as an exponentially decreasing function of the waiting time. The model jointly optimizes the initial inventory and the price for the product, so as to maximize the total average profit. Finally, the model is analysed and validated with the help of numerical examples, and a comprehensive sensitivity analysis has been performed which provides some important managerial implications.

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Two-warehouse partial backlogging inventory models for deteriorating items under inflation

Cited by 124 publications

References 21 publications

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

An EOQ model for non-instantaneous deteriorating items with two levels of storage under trade credit policy

Inventory control with deteriorating items: A state-of-the-art literature review

Two-warehouse inventory model for deteriorating items with price-sensitive demand and partially backlogged shortages under inflationary conditions

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