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Non-instantaneous deterioration inventory model with price and stock dependent demand for fully backlogged shortages under inflation

Author

Listed:
  • Ali Akbar Shaikh
  • Abu Hashan Md Mashud
  • Md. Sharif Uddin
  • Md. Al-Amin Khan

Abstract

In this paper we have developed an inventory model according to consideration of price, stock dependent, fully backlogged shortage and inflation. In this model we have described the demand function is dependent on price and stock and in shortage time the demand is depend only price of the product. Price of the product is dependent on different markup rate. The deterioration is considered as a non-instantaneous, i.e., when the item stock in retailer's house after some time deterioration will start. Shortages, if any are allowed and it is fully backlogged. The corresponding inventory problem constitutes a constraint optimisation problem. Here we have solved this problem by using Lingo 10 software. Finally, to illustrate and validate the inventory model, we have used a numerical example considered different markup rate. A sensitivity analysis has been carried out to study the effect of changes of different inventory parameters changing one parameter at a time and the others value of parameters is same.

Suggested Citation

  • Ali Akbar Shaikh & Abu Hashan Md Mashud & Md. Sharif Uddin & Md. Al-Amin Khan, 2017. "Non-instantaneous deterioration inventory model with price and stock dependent demand for fully backlogged shortages under inflation," International Journal of Business Forecasting and Marketing Intelligence, Inderscience Enterprises Ltd, vol. 3(2), pages 152-164.
    • Handle: RePEc:ids:ijbfmi:v:3:y:2017:i:2:p:152-164
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    Citations

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    Cited by:

    1. Chaudhari, Urmila & Bhadoriya, Amrita & Jani, Mrudul Y. & Sarkar, Biswajit, 2023. "A generalized payment policy for deteriorating items when demand depends on price, stock, and advertisement under carbon tax regulations," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 207(C), pages 556-574.
    2. Al-Amin Khan, Md. & Shaikh, Ali Akbar & Konstantaras, Ioannis & Bhunia, Asoke Kumar & Cárdenas-Barrón, Leopoldo Eduardo, 2020. "Inventory models for perishable items with advanced payment, linearly time-dependent holding cost and demand dependent on advertisement and selling price," International Journal of Production Economics, Elsevier, vol. 230(C).
    3. Md. Al-Amin Khan & Ali Akbar Shaikh & Gobinda Chandra Panda & Asoke Kumar Bhunia & Ioannis Konstantaras, 2020. "Non-instantaneous deterioration effect in ordering decisions for a two-warehouse inventory system under advance payment and backlogging," Annals of Operations Research, Springer, vol. 289(2), pages 243-275, June.
    4. Nabajyoti Bhattacharjee & Nabendu Sen, 2021. "An inventory model to study the effect of the probabilistic rate of carbon emission on the profit earned by a supplier," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 31(4), pages 5-33.
    5. Md Al-Amin Khan & Ali Akbar Shaikh & Leopoldo Eduardo Cárdenas-Barrón & Abu Hashan Md Mashud & Gerardo Treviño-Garza & Armando Céspedes-Mota, 2022. "An Inventory Model for Non-Instantaneously Deteriorating Items with Nonlinear Stock-Dependent Demand, Hybrid Payment Scheme and Partially Backlogged Shortages," Mathematics, MDPI, vol. 10(3), pages 1-23, January.

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