An Inventory Model with Time-Dependent Demand and Limited Storage Facility under Inflation
Joint Authors
Kumar, Neeraj
Singh, S. R.
Kumari, Rachna
Source
Advances in Operations Research
Issue
Vol. 2012, Issue 2012 (31 Dec. 2012), pp.1-17, 17 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2012-11-12
Country of Publication
Egypt
No. of Pages
17
Main Subjects
Information Technology and Computer Science
Abstract EN
The main objective of this paper is to develop a two-warehouse inventory model with partial backordering and Weibull distribution deterioration.
We consider inflation and apply the discounted cash flow in problem analysis.
The discounted cash flow (DCF) and optimization framework are presented to derive the optimal replenishment policy that minimizes the total present value cost per unit time.
When only rented or own warehouse model is considered, the present value of the total relevant cost is higher than the case when two-warehouse is considered.
The results have been validated with the help of a numerical example.
Sensitivity analysis with respect to various parameters is also performed.
From the sensitivity analysis, we show that the total cost of the system is influenced by the deterioration rate, the inflation rate, and the backordering ratio.
American Psychological Association (APA)
Kumar, Neeraj& Singh, S. R.& Kumari, Rachna. 2012. An Inventory Model with Time-Dependent Demand and Limited Storage Facility under Inflation. Advances in Operations Research،Vol. 2012, no. 2012, pp.1-17.
https://search.emarefa.net/detail/BIM-463366
Modern Language Association (MLA)
Kumar, Neeraj…[et al.]. An Inventory Model with Time-Dependent Demand and Limited Storage Facility under Inflation. Advances in Operations Research No. 2012 (2012), pp.1-17.
https://search.emarefa.net/detail/BIM-463366
American Medical Association (AMA)
Kumar, Neeraj& Singh, S. R.& Kumari, Rachna. An Inventory Model with Time-Dependent Demand and Limited Storage Facility under Inflation. Advances in Operations Research. 2012. Vol. 2012, no. 2012, pp.1-17.
https://search.emarefa.net/detail/BIM-463366
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-463366