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Effects of inspection on retailer's ordering policy for deteriorating items with time-dependent demand under inflationary conditions

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  • Chandra Jaggi
  • Mandeep Mittal
  • Aditi Khanna

Abstract

In this article, an Economic Order Quantity (EOQ) model has been developed with unreliable supply, where each received lot may have random fraction of defective items with known distribution. Thus, the inspection of lot becomes essential in almost all the situations. Moreover, its role becomes more significant when the items are deteriorating in nature. It is assumed that defective items are salvaged as a single batch after the screening process. Further, it has been observed that the demand as well as price for certain consumer items increases linearly with time, especially under inflationary conditions. Owing to this fact, this article investigates the impact of defective items on retailer's ordering policy for deteriorating items under inflation when both demand and price vary with the passage of time. The proposed model optimises the order quantity by maximising the retailer's expected profit. Results are demonstrated with the help of a numerical example and the sensitivity analysis is also presented to provide managerial insights into practice.

Suggested Citation

  • Chandra Jaggi & Mandeep Mittal & Aditi Khanna, 2013. "Effects of inspection on retailer's ordering policy for deteriorating items with time-dependent demand under inflationary conditions," International Journal of Systems Science, Taylor & Francis Journals, vol. 44(9), pages 1774-1782.
  • Handle: RePEc:taf:tsysxx:v:44:y:2013:i:9:p:1774-1782
    DOI: 10.1080/00207721.2012.704088
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    Cited by:

    1. Janssen, Larissa & Claus, Thorsten & Sauer, Jürgen, 2016. "Literature review of deteriorating inventory models by key topics from 2012 to 2015," International Journal of Production Economics, Elsevier, vol. 182(C), pages 86-112.
    2. Abu Hashan Md Mashud & Dipa Roy & Yosef Daryanto & Mohd Helmi Ali, 2020. "A Sustainable Inventory Model with Imperfect Products, Deterioration, and Controllable Emissions," Mathematics, MDPI, vol. 8(11), pages 1-21, November.
    3. Sudipta Sinha & Nikunja Mohan Modak & Shib Sankar Sana, 2020. "An entropic order quantity inventory model for quality assessment considering price sensitive demand," OPSEARCH, Springer;Operational Research Society of India, vol. 57(1), pages 88-103, March.

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