In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in th...In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.展开更多
One of the major concerns for the technology market is the demand volatility andits impact on inventory policies. Demand volatility in the technology sector mayarise due to many factors namely customer choices, compet...One of the major concerns for the technology market is the demand volatility andits impact on inventory policies. Demand volatility in the technology sector mayarise due to many factors namely customer choices, competition, growingmarket size, and so on. Often companies use rented warehouses to absorb anyfluctuations in demand. Unfortunately, warehouse and inventory researchesignore the phenomenon of growing market size to formulate policy decisions. Inthis paper, we proposed a two-warehouse inventory model with deterioration fortechnology products with linearly increasing market size where demand followsinnovation diffusion criterion. The model is based on the assumption that theholding costs in the rented warehouse are more than the own warehouse. Asimple solution procedure also discussed to solve nonlinear cost function.Numerical example and sensitivity analysis are also used to describe the utilityof the model.展开更多
This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by...This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by incorporating the fact that granting the trade credit from the seller to its buyer not only increases sales and revenue but also opportunity cost and default risk.Moreover,in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The purpose of this study is to determine the optimal credit period and the optimal order quantity such that the total profit of the seller is maximised.Some numerical examples are presented for illustrating the proposed inventory model.Furthermore,sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained.展开更多
基金The first author’s research work is supported by DST INSPIRE,Ministry of Science and Technology,Government of India under grant no.DST/INSPIRE Fellowship/2011/413B dated 2 December 2014.
文摘In this paper,a two-warehouse economic order quantity(EOQ)model for noninstantaneously deteriorating items with stock-dependent demand under the effects of inflation and the time value of money is presented.Also in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The objective of this model is to minimize the total inventory cost of the retailer by finding the optimal intervals and the optimal order quantity.An algorithm is designed to find the optimum solution of the proposed model.Numerical examples are given to demonstrate the results.Sensitivity analysis of the model with respect to several system parameters has been carried out and some managerial inferences are obtained.
文摘One of the major concerns for the technology market is the demand volatility andits impact on inventory policies. Demand volatility in the technology sector mayarise due to many factors namely customer choices, competition, growingmarket size, and so on. Often companies use rented warehouses to absorb anyfluctuations in demand. Unfortunately, warehouse and inventory researchesignore the phenomenon of growing market size to formulate policy decisions. Inthis paper, we proposed a two-warehouse inventory model with deterioration fortechnology products with linearly increasing market size where demand followsinnovation diffusion criterion. The model is based on the assumption that theholding costs in the rented warehouse are more than the own warehouse. Asimple solution procedure also discussed to solve nonlinear cost function.Numerical example and sensitivity analysis are also used to describe the utilityof the model.
基金supported by DST INSPIRE Fellowship,Ministry of Science and Technology,Government of India under the grant number DST/INSPIRE Fellowship/2011/413B dated 02.12.2014.
文摘This paper analyses an inventory model for non-instantaneous deteriorating items under a two-warehouse system with the effect of inflation and time value of money.We propose the model from the seller’s prospective by incorporating the fact that granting the trade credit from the seller to its buyer not only increases sales and revenue but also opportunity cost and default risk.Moreover,in this model,shortages are allowed and partially backlogged.The backlogging rate is dependent on the waiting time for the next replenishment.The purpose of this study is to determine the optimal credit period and the optimal order quantity such that the total profit of the seller is maximised.Some numerical examples are presented for illustrating the proposed inventory model.Furthermore,sensitivity analysis of the optimal solutions with respect to major parameters is carried out and some managerial inferences are obtained.
