An EOQ inventory model with ramp type demand rate for items with Weibull deterioration. (English) Zbl 0963.90009

Wu, Jong-Wuu; Lin, Chinho; Tan, Bertram; Lee, Wen-Chuan

Int. J. Inf. Manage. Sci. 10, No. 3, 41-51 (1999).

Summary: The authors consider here an EOQ model in which inventory is depleted not only by demand, but also by deterioration at a Weibull distributed rate, assuming the demand rate with a ramp type function of time. The proposed model cannot be solved directly in a closed form, thus the computer software IMSL MATH/LIBRARY has been used to find the optimal reorder time. Finally, three numerical examples and sensitivity analyses are provided to assess the solution procedure.

MSC:

90B05

Inventory, storage, reservoirs

Keywords:

shortage; reorder time; EOQ model; inventory; deterioration; Weibull distributed rate; demand rate; ramp type function of time