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A waiting time deterministic inventory model for perishable items in stock and time dependent demand

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  • Umakanta Mishra

    (ICFAI University, Tripura)

Abstract

This paper presents a deterministic inventory model for perishable items when the demand has been considered to be stock and time dependent. Shortages are allowed and are partially backlogged for the model. The deterioration rate has been considered here to be constant. The objective is to determine the optimal ordering policy by finding the optimal length of the inventory interval with positive inventory and the optimal length of order cycle for minimizing the cost. The model is solved analytically and graphically by minimizing the total inventory cost. The result is illustrated with the help of numerical example of the model. Sensitivity analysis is performed to show the effect of changes in the parameters on the optimum solution. The analysis of the model shows that the solution of the model is quite stable and can be applied for optimizing the total inventory cost of perishable items in inventory for the business enterprises.

Suggested Citation

  • Umakanta Mishra, 2016. "A waiting time deterministic inventory model for perishable items in stock and time dependent demand," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 7(1), pages 294-304, December.
    • Handle: RePEc:spr:ijsaem:v:7:y:2016:i:1:d:10.1007_s13198-015-0404-0
    DOI: 10.1007/s13198-015-0404-0
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    References listed on IDEAS

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    1. Dye, Chung-Yuan & Ouyang, Liang-Yuh, 2005. "An EOQ model for perishable items under stock-dependent selling rate and time-dependent partial backlogging," European Journal of Operational Research, Elsevier, vol. 163(3), pages 776-783, June.
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    5. Urban, Timothy L., 2005. "A periodic-review model with serially-correlated, inventory-level-dependent demand," International Journal of Production Economics, Elsevier, vol. 95(3), pages 287-295, March.
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    7. Soni, Hardik & Shah, Nita H., 2008. "Optimal ordering policy for stock-dependent demand under progressive payment scheme," European Journal of Operational Research, Elsevier, vol. 184(1), pages 91-100, January.
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    Cited by:

    1. Mária Stopková & Ondrej Stopka & Vladimír Ľupták, 2019. "Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management," Sustainability, MDPI, vol. 11(15), pages 1-15, August.
    2. Priyamvada & Prerna Gautam & Aditi Khanna, 2021. "Sustainable production strategies for deteriorating and imperfect quality items with an investment in preservation technology," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 12(5), pages 910-918, October.

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