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A Time Dependent Order Level Inventory Model for Beta Deterioration in Two Warehouse Systems

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  • Soumendra Kumar Patra

    (Department of Management Studies, Regional College of Management (Autonomous), Bhubaneswar, India)

  • Tapan Kumar Lenka

    (Rajdhani College of Engineering and Management, Odisha, India)

  • Er. Purna Chandra Ratha

    (Department of Business Administration, Utkal University, Bhubaneswar, India)

Abstract

An inventory problem for a deteriorating item having two separate warehouses is developed under time value of money, whereby one is an own warehouse (OW) of finite dimension(s) and the other is rented warehouse (RW) of infinite dimension(s). Deterioration rate of items in the two warehouses may be different, which is time dependent and deterioration is in the mean beta distribution form. In this study, shortages and complete backlogging have been considered as the other items, whereby the demand rate of items is linear with time in OW and the same is linear with price in case of RW. Also, the stocks of RW transported to OW in continuous release pattern.

Suggested Citation

  • Soumendra Kumar Patra & Tapan Kumar Lenka & Er. Purna Chandra Ratha, 2015. "A Time Dependent Order Level Inventory Model for Beta Deterioration in Two Warehouse Systems," International Journal of Operations Research and Information Systems (IJORIS), IGI Global, vol. 6(2), pages 53-69, April.
    • Handle: RePEc:igg:joris0:v:6:y:2015:i:2:p:53-69
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