An EOQ model for deteriorating items with a linear trend in demand and shortages in all cycles

Article Abstract:

The Goswami-Chaudhuri model for inventory replenishment problem has been revised to develop a framework for deteriorating items with linear trend in demand and shortages in all cycles. Through the use of sensitivity analysis, it has been determined that the model establishes an optimal reorder system which reduces overall system cost considerably. Further, the revised model allows firms to reduce the number of their reorders in order to lessen their operational loads. Such a model is less expensive and easier to operate than other traditional inventory policies.

Methods, Manufacturing processes, Manufacturing

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Variations of order-level inventory models for deteriorating items

Article Abstract:

Two deterministic order-level inventory models for deteriorating items were developed and analyzed mathematically. Both models, varied according to the presence or absence of shortages, were based on the assumption that deterioration, demand and finite production rates were time-dependent. Results indicate that inventory shortages significantly prolong planning periods. Analysis also reveals that increases in shortage cost are followed by reductions in scheduling periods and that backlogging reduces average system cost.

Analysis, Inventory shrinkage, Inventory shortages

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An EOQ model with stock-dependent demand, shortage, inflation and time discounting

Article Abstract:

An economic order quantity model that takes into account several realistic features of a real market economy was formulated for effective inventory. The model considers stock-dependent demand rate since stock level creates a motivational effect on customers. It also takes into consideration the inventory-level-dependent demand rate and the effects of inflation, as well as the time value of money.

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