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Inventory model for perishable items for ramp type demand with an assumption of preservative technology and Weibull deterioration

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  • Jitendra Kaushik

Abstract

This study investigates the 'EOQ' model for perishable items like fruits, vegetables, and seafood, which have a specific shelf life. The preservative technology lessens the rate of deterioration, and often results in the enhanced shelf life of perishable items. The foremost motive of this study is to find an optimal price, optimal cycle length, and optimal investment policy to improve retailers' profit through preservative technology. We present a comprehensive and comparative analysis of EOQ models considering preservation and without preservation. The Weibull deterioration is included in a ramp type demand function of price and time. The concavity of the profit function shows a maximum profit. The numerical examples support our results. Further, the most sensitive demand parameters and decision variables are found via sensitivity analysis. The proposed study provides enough impetus for managerial decisions, e.g., when and how much to invest through the proposed model.

Suggested Citation

  • Jitendra Kaushik, 2023. "Inventory model for perishable items for ramp type demand with an assumption of preservative technology and Weibull deterioration," International Journal of Procurement Management, Inderscience Enterprises Ltd, vol. 18(2), pages 238-259.
    • Handle: RePEc:ids:ijpman:v:18:y:2023:i:2:p:238-259
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