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An EPQ model of ramp type demand with Weibull deterioration under inflation and finite horizon in crisp and fuzzy environment

Author

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  • Pal, Shilpi
  • Mahapatra, G.S.
  • Samanta, G.P.

Abstract

This paper deals with an economic production model for deteriorating items with ramp type demand rate. A single item is produced and the finite rate of production is proportional to the demand rate. The deterioration rate of the item is taken as two parameter Weibull׳s distribution. We also have considered the effect of inflation when there is no shortage in the stock and the model is under finite time horizon. The inventory model is solved under crisp and fuzzy environment to evaluate the optimum solution of the model in different cases. We illustrate the model with an example by taking various number of replenishment. We present sensitivity analysis to illustrate the example under crisp and fuzziness. Thus the objective of the paper is to find the optimal solution of production time so as to minimize the present value of total cost of the whole replenishment cycle and to check which environment (crisp or fuzzy) is desirable.

Suggested Citation

  • Pal, Shilpi & Mahapatra, G.S. & Samanta, G.P., 2014. "An EPQ model of ramp type demand with Weibull deterioration under inflation and finite horizon in crisp and fuzzy environment," International Journal of Production Economics, Elsevier, vol. 156(C), pages 159-166.
    • Handle: RePEc:eee:proeco:v:156:y:2014:i:c:p:159-166
    DOI: 10.1016/j.ijpe.2014.05.007
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    2. Pal, Shilpi & Mahapatra, G.S. & Samanta, G.P., 2015. "A production inventory model for deteriorating item with ramp type demand allowing inflation and shortages under fuzziness," Economic Modelling, Elsevier, vol. 46(C), pages 334-345.
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    6. 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.
    7. Nima Kazemi & Salwa Hanim Abdul-Rashid & Ehsan Shekarian & Eleonora Bottani & Roberto Montanari, 2016. "A fuzzy lot-sizing problem with two-stage composite human learning," International Journal of Production Research, Taylor & Francis Journals, vol. 54(16), pages 5010-5025, August.
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    9. Li, Xishu & Yin, Ying & Manrique, David Vergara & Bäck, Thomas, 2021. "Lifecycle forecast for consumer technology products with limited sales data," International Journal of Production Economics, Elsevier, vol. 239(C).

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