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An inventory model under inflation for deteriorating items with stock-dependent consumption rate and partial backlogging shortages

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  • Yang, Hui-Ling
  • Teng, Jinn-Tsair
  • Chern, Maw-Sheng

Abstract

In this paper, we extend Teng, J.T., Chang, H.J., Dye, C.Y., Hung, C.H. [2002. An optimal replenishment policy for deteriorating items with time-varying demand and partial backlogging. Operations Research Letters 30(6), 387-393.] and Hou, K.L. [2006. An inventory model for deteriorating items with stock-dependent consumption rate and shortages under inflation and time discounting. European Journal of Operational Research 168(2), 463-474.] by considering an inventory lot-size model under inflation for deteriorating items with stock-dependent consumption rate when shortages are partial backlogging. The proposed model allows for (1) partial backlogging, (2) time-varying replenishment cycles, and (3) time-varying shortage intervals. Consequently, the proposed model is in a general framework that includes numerous previous models as special cases. We then prove that the optimal replenishment schedule exists uniquely, and provide a good estimate for finding the optimal replenishment number. Furthermore, we briefly discuss some special cases of the proposed model related to previous models. Finally, numerical examples to illustrate the solution process and some managerial implications are provided.

Suggested Citation

  • Yang, Hui-Ling & Teng, Jinn-Tsair & Chern, Maw-Sheng, 2010. "An inventory model under inflation for deteriorating items with stock-dependent consumption rate and partial backlogging shortages," International Journal of Production Economics, Elsevier, vol. 123(1), pages 8-19, January.
    • Handle: RePEc:eee:proeco:v:123:y:2010:i:1:p:8-19
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    References listed on IDEAS

    as
    1. Chern, Maw-Sheng & Yang, Hui-Ling & Teng, Jinn-Tsair & Papachristos, Sotiris, 2008. "Partial backlogging inventory lot-size models for deteriorating items with fluctuating demand under inflation," European Journal of Operational Research, Elsevier, vol. 191(1), pages 127-141, November.
    2. J-T Teng & H-L Yang, 2004. "Deterministic economic order quantity models with partial backlogging when demand and cost are fluctuating with time," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(5), pages 495-503, May.
    3. Maw-Sheng Chern & Ya-Lan Chan & Jinn-Tsair Teng, 2005. "A Comparison Among Various Inventory Shortage Models For Deteriorating Items On The Basis Of Maximizing Profit," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 121-134.
    4. Hou, Kuo-Lung, 2006. "An inventory model for deteriorating items with stock-dependent consumption rate and shortages under inflation and time discounting," European Journal of Operational Research, Elsevier, vol. 168(2), pages 463-474, January.
    5. Goyal, S. K. & Giri, B. C., 2001. "Recent trends in modeling of deteriorating inventory," European Journal of Operational Research, Elsevier, vol. 134(1), pages 1-16, October.
    6. J-T Teng & H-L Yang & L-Y Ouyang, 2003. "On an EOQ model for deteriorating items with time-varying demand and partial backlogging," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 54(4), pages 432-436, April.
    7. San José, L.A. & Sicilia, J. & Garcia-Laguna, J., 2006. "Analysis of an inventory system with exponential partial backordering," International Journal of Production Economics, Elsevier, vol. 100(1), pages 76-86, March.
    8. Teng, Jinn-Tsair & Ouyang, Liang-Yuh & Chen, Liang-Ho, 2007. "A comparison between two pricing and lot-sizing models with partial backlogging and deteriorated items," International Journal of Production Economics, Elsevier, vol. 105(1), pages 190-203, January.
    9. Alfares, Hesham K., 2007. "Inventory model with stock-level dependent demand rate and variable holding cost," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 259-265, July.
    10. Yang, Hui-Ling, 2005. "A comparison among various partial backlogging inventory lot-size models for deteriorating items on the basis of maximum profit," International Journal of Production Economics, Elsevier, vol. 96(1), pages 119-128, April.
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