A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand

Pinky Saxena; S.R Singh; Isha Sangal

A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand

Pinky Saxena * §

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S.R Singh §

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Isha Sangal §

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§ Krishna Institute of Engineering and Technology

A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand

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Abstract

This paper presents an inventory model for deteriorating items that have a single manufacturer but multiple market demands for a finite planning horizon. For the market, different selling seasons are considered. It is a production inventory model, which has a demand rate dependent on the selling price. Here, we have presented a solution-search procedure to find the optimal replenishment policy for raw material and optimal production time. The model is illustrated using a numerical example. Further; sensitivity analysis is also performed to check the stability of the model.

References

9 Cites in Article

Reference Format

1. S Goyal,B Giri (2001). Recent trends in modeling of deteriorating inventory. European Journal of Operational Research, 134, 1-16.
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5. S Kang,I Kim (1983). A study on the price and production level of the deteriorating inventory system. International Journal of Production Research, 21, 899-908.
6. P Yang,H Wee (2002). A single-vendor and multiple-buyers production–inventory policy for a deteriorating item. European Journal of Operational Research, 143(3), 570-581.
7. Moutaz Khouja (2001). The effect of large order quantities on expected profit in the single-period model. International Journal of Production Economics, 72(3), 227-235.
8. Richard Covert,George Philip (1973). An EOQ Model for Items with Weibull Distribution Deterioration. A I I E Transactions, 5(4), 323-326.
9. B Giri,S Pal,A Goswami,K Chaudhuri (1996). An inventory model for deteriorating items with stock-dependent demand rate. European Journal of Operational Research, 95, 604-610.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Pinky Saxena, S.R Singh, Isha Sangal. 2017. "A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand". Global Journal of Science Frontier Research - F: Mathematics & Decision GJSFR-F Volume 16 (GJSFR Volume 16 Issue F6).

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GJSFR Volume 16 Issue F6

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

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Classification

GJSFR-F Classification MSC 2010: 91B26

Submission ReceivedNovember 1, 2016
Peer Review Double Blind
Handling Editor
Accepted November 30, 2016
Published December 11, 2016

Version of record

v1.2

Issue date

January 19, 2017

Language

English

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Article Matrices

Total Score: 103

Country: India

Subject: Global Journal of Science Frontier Research - F: Mathematics & Decision

Authors: Pinky Saxena, S.R Singh, Isha Sangal (PhD/Dr. count: 0)

View Count (all-time): 425

Total Views (Real + Logic): 1634

Total Downloads (simulated): 118

Publish Date: 2016 12, Sun

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Total Views: 1.6K

Total Downloads: 118

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