Journal of Computations & Modelling

An Ordering Policy for Deteriorating and Weibull Ameliorating items with Time-Varying Demand and Partial Backlogging

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  • Abstract

     

    Deterioration means decay, evaporation, and obsolescence, loss of quality or marginal value of a commodity. Obviously, deterioration decreases the usefulness of the good from its original condition. Again we know the longer the goods which are kept in inventory, the higher the deteriorating cost. Pertinently there are few research papers dealing with the inventory model under the environment of Amelioration of items. The present paper deals with an inventory model for both ameliorating and deteriorating items. The amelioration rate follows the Weibull distribution and the time-varying demand rate is assumed as over a fixed time horizon and shortages which is partially backlogged. Finally the model is illustrated with the help of a numerical example, some particular cases are derived and the sensitivity analysis of the optimal solution towards the changes in the values of different parameters is also studied.

     

    Subject classification: AMS Classification No. 90B05, 97M40.

    Key Words: Inventory, Deteriorating, Ameliorating, Weibull distribution, Time-varying demand, Shortages, and Partial backlogging.