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An inventory model with variable demand, component cost and selling price for deteriorating items

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  • Sarkar, Biswajit
  • Saren, Sharmila
  • Wee, Hui-Ming

Abstract

In this paper, we develop an economic order quantity (EOQ) model for finite production rate and deteriorating items with time dependent increasing demand. The component cost and the selling price are considered at a continuous rate of time. The objective of this model is to maximize the total profit over the finite planning horizon. We also want to find the integral number of orders in the finite planning horizon. A numerical example, graphical representations and sensitivity analysis are given to illustrate the model.

Suggested Citation

  • Sarkar, Biswajit & Saren, Sharmila & Wee, Hui-Ming, 2013. "An inventory model with variable demand, component cost and selling price for deteriorating items," Economic Modelling, Elsevier, vol. 30(C), pages 306-310.
  • Handle: RePEc:eee:ecmode:v:30:y:2013:i:c:p:306-310
    DOI: 10.1016/j.econmod.2012.09.002
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    References listed on IDEAS

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    Citations

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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. Sarkar, Biswajit & Sarkar, Sumon, 2013. "An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand," Economic Modelling, Elsevier, vol. 30(C), pages 924-932.
    3. Javad Sadeghi & Seyed Taghi Akhavan Niaki & Mohammad Reza Malekian & Saeid Sadeghi, 2016. "Optimising multi-item economic production quantity model with trapezoidal fuzzy demand and backordering: two tuned meta-heuristics," European Journal of Industrial Engineering, Inderscience Enterprises Ltd, vol. 10(2), pages 170-195.
    4. repec:eee:apmaco:v:256:y:2015:i:c:p:913-929 is not listed on IDEAS
    5. Modak, Nikunja Mohan & Panda, Shibaji & Sana, Shib Sankar, 2016. "Three-echelon supply chain coordination considering duopolistic retailers with perfect quality products," International Journal of Production Economics, Elsevier, vol. 182(C), pages 564-578.
    6. Sarkar, Biswajit & Sarkar, Sumon, 2013. "Variable deterioration and demand—An inventory model," Economic Modelling, Elsevier, vol. 31(C), pages 548-556.
    7. Wang, Wan-Chih & Teng, Jinn-Tsair & Lou, Kuo-Ren, 2014. "Seller’s optimal credit period and cycle time in a supply chain for deteriorating items with maximum lifetime," European Journal of Operational Research, Elsevier, vol. 232(2), pages 315-321.
    8. Sarkar, Mitali & Sarkar, Biswajit, 2013. "An economic manufacturing quantity model with probabilistic deterioration in a production system," Economic Modelling, Elsevier, vol. 31(C), pages 245-252.

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