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Panda, S.; Saha, S.; Basu, M.

An EOQ model with generalized ramp-type demand and Weibull distribution deterioration. (English) Zbl 1137.90321

Asia-Pac. J. Oper. Res. 24, No. 1, 93-109 (2007).
Summary: An inventory model is discussed with generalized ramp-type demand where the time to deterioration follows Weibull distribution. Shortages of inventories are allowed and completely backlogged. Total cost is derived by trading off setup cost, holding cost, deterioration cost, and shortage cost. The optimal replenishment policy for a single period is derived by minimizing the total cost per unit time over infinite time horizon. A numerical example is presented and sensitivity analysis is also carried out. The rationale for generalized ramp-type demand is discussed.

Cited in 8 Documents

MSC:

90B05 Inventory, storage, reservoirs
60K25 Queueing theory (aspects of probability theory)
60K30 Applications of queueing theory (congestion, allocation, storage, traffic, etc.)

Keywords:

inventory; ramp-type demand; deterioration; shortage
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\textit{S. Panda} et al., Asia-Pac. J. Oper. Res. 24, No. 1, 93--109 (2007; Zbl 1137.90321)
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