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An inventory model with generalized type demand, deterioration and backorder rates

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  • Hung, Kuo-Chen

Abstract

This study is motivated by the paper of Skouri et al. [Skouri, Konstantaras, Papachristos, Ganas, European Journal of Operational Research 192 (1) (2009) 79-92]. We extend their inventory model from ramp type demand rate and Weibull deterioration rate to arbitrary demand rate and arbitrary deterioration rate in the consideration of partial backorder. We demonstrate that the optimal solution is actually independent of demand. That is, for a finite time horizon, any attempt at tackling targeted inventory models under ramp type or any other types of the demand becomes redundant. Our analytical approach dramatically simplifies the solution procedure.

Suggested Citation

  • Hung, Kuo-Chen, 2011. "An inventory model with generalized type demand, deterioration and backorder rates," European Journal of Operational Research, Elsevier, vol. 208(3), pages 239-242, February.
    • Handle: RePEc:eee:ejores:v:208:y:2011:i:3:p:239-242
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    1. Skouri, K. & Konstantaras, I. & Papachristos, S. & Ganas, I., 2009. "Inventory models with ramp type demand rate, partial backlogging and Weibull deterioration rate," European Journal of Operational Research, Elsevier, vol. 192(1), pages 79-92, January.
    2. Wee, Hui-Ming, 1995. "Joint pricing and replenishment policy for deteriorating inventory with declining market," International Journal of Production Economics, Elsevier, vol. 40(2-3), pages 163-171, August.
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    6. Manna, S.K. & Chaudhuri, K.S., 2006. "An EOQ model with ramp type demand rate, time dependent deterioration rate, unit production cost and shortages," European Journal of Operational Research, Elsevier, vol. 171(2), pages 557-566, June.
    7. S. Panda & S. Saha & M. Basu, 2007. "An Eoq Model With Generalized Ramp-Type Demand And Weibull Distribution Deterioration," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 24(01), pages 93-109.
    8. Chu, Peter & Yang, Kuo-Lung & Liang, Shing-Ko & Niu, Thomas, 2004. "Note on inventory model with a mixture of back orders and lost sales," European Journal of Operational Research, Elsevier, vol. 159(2), pages 470-475, December.
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    Cited by:

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    2. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    3. Huang, Yeu-Shiang & Su, Wei-Jun & Lin, Zu-Liang, 2011. "A study on lead-time discount coordination for deteriorating products," European Journal of Operational Research, Elsevier, vol. 215(2), pages 358-366, December.
    4. Lin, Shih-Wei, 2011. "Inventory models with managerial policy independent of demand," European Journal of Operational Research, Elsevier, vol. 211(3), pages 520-524, June.
    5. Dye, Chung-Yuan & Hsieh, Tsu-Pang, 2012. "An optimal replenishment policy for deteriorating items with effective investment in preservation technology," European Journal of Operational Research, Elsevier, vol. 218(1), pages 106-112.
    6. Xu, Xinsheng & Wang, Hongwei & Dang, Chuangyin & Ji, Ping, 2017. "The loss-averse newsvendor model with backordering," International Journal of Production Economics, Elsevier, vol. 188(C), pages 1-10.
    7. Mehran Ullah & Biswajit Sarkar & Iqra Asghar, 2019. "Effects of Preservation Technology Investment on Waste Generation in a Two-Echelon Supply Chain Model," Mathematics, MDPI, vol. 7(2), pages 1-20, February.
    8. Yu-Lan Wang & Ming-Li Chen & Peterson Julian, 2022. "Maximum-Profit Inventory Model with Generalized Deterioration Rate," Mathematics, MDPI, vol. 10(17), pages 1-14, September.
    9. Sudip Adak & G. S. Mahapatra, 2022. "Effect of reliability on multi-item inventory system with shortages and partial backlog incorporating time dependent demand and deterioration," Annals of Operations Research, Springer, vol. 315(2), pages 1551-1571, August.
    10. Tai, Allen H. & Xie, Yue & Ching, Wai-Ki, 2016. "Inspection policy for inventory system with deteriorating products," International Journal of Production Economics, Elsevier, vol. 173(C), pages 22-29.
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    16. Pentico, David W. & Drake, Matthew J., 2011. "A survey of deterministic models for the EOQ and EPQ with partial backordering," European Journal of Operational Research, Elsevier, vol. 214(2), pages 179-198, October.

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