A deterministic two warehouse inventory model for deteriorating items with stock-dependent demand and shortages under the conditions of permissible delay (Q425574): Difference between revisions
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Summarya: A deterministic inventory model for deteriorating items with two warehouses and shortages is developed. It is observed that in supermarkets, the demand rate is usually influenced by the amount of the stock level, i.e., the demand rate may go up or down with the on-hand inventory level. Influenced by this, we develop a model where the demand is dependent on the present stock level. Trade credit is provided to the customer to attract them and boost up the demand. A rented warehouse (RW) is used when the ordering quantity exceeds the limited capacity of the own warehouse. Due to different storage conditions, deterioration rate in two warehouses may be different. In addition, shortages are neither completely backlogged nor completely lost assuming the backlogging rate to the inversely proportional to the waiting time for the next replenishment. The associated cost minimisation is illustrated by numerical example and also its sensitivity analysis is carried out by using Mathematica-5.2 for the feasibility and applicability of our model. | |||
Property / review text: Summarya: A deterministic inventory model for deteriorating items with two warehouses and shortages is developed. It is observed that in supermarkets, the demand rate is usually influenced by the amount of the stock level, i.e., the demand rate may go up or down with the on-hand inventory level. Influenced by this, we develop a model where the demand is dependent on the present stock level. Trade credit is provided to the customer to attract them and boost up the demand. A rented warehouse (RW) is used when the ordering quantity exceeds the limited capacity of the own warehouse. Due to different storage conditions, deterioration rate in two warehouses may be different. In addition, shortages are neither completely backlogged nor completely lost assuming the backlogging rate to the inversely proportional to the waiting time for the next replenishment. The associated cost minimisation is illustrated by numerical example and also its sensitivity analysis is carried out by using Mathematica-5.2 for the feasibility and applicability of our model. / rank | |||
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Property / Mathematics Subject Classification ID: 90B05 / rank | |||
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Property / zbMATH DE Number: 6044074 / rank | |||
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two-warehouse inventory modelling | |||
Property / zbMATH Keywords: two-warehouse inventory modelling / rank | |||
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shortages | |||
Property / zbMATH Keywords: shortages / rank | |||
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stock-dependent demand rate | |||
Property / zbMATH Keywords: stock-dependent demand rate / rank | |||
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time-dependent partial backlogging rate | |||
Property / zbMATH Keywords: time-dependent partial backlogging rate / rank | |||
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permissible delay | |||
Property / zbMATH Keywords: permissible delay / rank | |||
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payment delays | |||
Property / zbMATH Keywords: payment delays / rank | |||
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deteriorating items | |||
Property / zbMATH Keywords: deteriorating items / rank | |||
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Property / describes a project that uses | |||
Property / describes a project that uses: Mathematica / rank | |||
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Property / MaRDI profile type: MaRDI publication profile / rank | |||
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Property / full work available at URL: https://doi.org/10.1504/ijmmno.2011.043084 / rank | |||
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Property / OpenAlex ID: W2170459837 / rank | |||
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Latest revision as of 10:14, 30 July 2024
scientific article
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English | A deterministic two warehouse inventory model for deteriorating items with stock-dependent demand and shortages under the conditions of permissible delay |
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A deterministic two warehouse inventory model for deteriorating items with stock-dependent demand and shortages under the conditions of permissible delay (English)
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8 June 2012
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Summarya: A deterministic inventory model for deteriorating items with two warehouses and shortages is developed. It is observed that in supermarkets, the demand rate is usually influenced by the amount of the stock level, i.e., the demand rate may go up or down with the on-hand inventory level. Influenced by this, we develop a model where the demand is dependent on the present stock level. Trade credit is provided to the customer to attract them and boost up the demand. A rented warehouse (RW) is used when the ordering quantity exceeds the limited capacity of the own warehouse. Due to different storage conditions, deterioration rate in two warehouses may be different. In addition, shortages are neither completely backlogged nor completely lost assuming the backlogging rate to the inversely proportional to the waiting time for the next replenishment. The associated cost minimisation is illustrated by numerical example and also its sensitivity analysis is carried out by using Mathematica-5.2 for the feasibility and applicability of our model.
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two-warehouse inventory modelling
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shortages
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stock-dependent demand rate
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time-dependent partial backlogging rate
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permissible delay
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payment delays
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deteriorating items
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