Articles written in Sadhana
Volume 41 Issue 5 May 2016 pp 541-548
We consider the problem of a two-warehouse inventory system under the effect of stock dependent demand. There are two warehouses to store the goods in which the first is rented warehouse and the second is own warehouse that deteriorates with two different rates. The aim of this study is to determine the optimal order quantity to maximize the profit of the projected model. Finally, some numerical examples and sensitivity analysis of parameters are made to validate the results of the proposed model.
Volume 41 Issue 9 September 2016 pp 977-984
In this study, we have discussed the development of an inventory model when the deterioration rate of the item follows Weibull two parameter distributions under the effect of selling price and time dependent demand, since, not only the selling price, but also the time is a crucial factor to enhance the demand in the market as well as affecting the overall finance. In the present model, shortages are approved and also partially backlogged. Optimum inventory level, the optimal length of a cycle and the expressions for profit function under various cost considerations are obtained using differential equations. These are illustrated graphically with the help of numerical examples. The sensitivity analysis of the standards of the parameters has been performed tostudy the effect on inventory optimizations.