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Inventory model for deteriorating items with time and reliability dependent demand and partial backorder

Author

Listed:
  • G.S. Mahapatra
  • Sudip Adak
  • T.K. Mandal
  • Shilpi Pal

Abstract

The objective of this paper is to show how providing high-quality reliable products and balancing of the stock availability to maintain customer satisfaction can be the key factor in governing the inventory management of a company which in turn can increase its market share, productivity, and profitability. So, an economic order quantity (EOQ) model is developed to analyse the effect of reliability and time-based demand rate on inventory management system. The effect of constant deterioration and shortages are permitted with partial backlogging. The core objective of a good inventory management system is to provide the best possible customer service within the restraint of the lowest practical inventory costs. Thus, a minimisation of the total inventory cost has been tried to achieve with optimisation of inventory. To support our study, we have illustrated it with a numerical example and finally, sensitivity analysis is carried out to find the effect of the parameters on the optimal solution.

Suggested Citation

  • G.S. Mahapatra & Sudip Adak & T.K. Mandal & Shilpi Pal, 2017. "Inventory model for deteriorating items with time and reliability dependent demand and partial backorder," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 29(3), pages 344-359.
    • Handle: RePEc:ids:ijores:v:29:y:2017:i:3:p:344-359
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    Citations

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    Cited by:

    1. Ali Khaleel Dhaiban, 2022. "Two models of inventory system with stochastic demand and deteriorating items: case study of a local cheese factory," OPSEARCH, Springer;Operational Research Society of India, vol. 59(1), pages 78-101, March.
    2. Xiaowei Hu & Jaejin Jang & Nabeel Hamoud & Amirsaman Bajgiran, 2021. "Strategic Inventories in a Supply Chain with Downstream Cournot Duopoly," Papers 2109.06995, arXiv.org, revised Jan 2022.
    3. Sushil Kumar, 2019. "An EOQ model for deteriorating items with time-dependent exponential demand rate and penalty cost," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 29(3), pages 37-49.
    4. 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.
    5. Sudip Adak & G. S. Mahapatra, 2021. "Effect of inspection and rework of probabilistic defective production on two-layer supply chain incorporating deterioration and reliability dependent demand," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 12(3), pages 565-578, June.

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