An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand

Biswajit Sarkar, Sumon Sarkar

Research output: Contribution to journalArticle

114 Citations (Scopus)

Abstract

This paper expands an inventory model for deteriorating items with stock-dependent demand. This model provides time varying backlogging rate as well as time varying deterioration rate. The aim of this model is to determine the optimal cycle length of each product such that the expected total cost (holding, shortage, ordering, deterioration and opportunity cost) is minimized. Further, the necessary and sufficient conditions are provided to show the existence and uniqueness of the optimal solution. Lastly, some numerical examples, sensitivity analysis along with graphical representations are shown to illustrate the practical application of the proposed model.

Original languageEnglish
Pages (from-to)924-932
Number of pages9
JournalEconomic Modelling
Volume30
Issue number1
DOIs
Publication statusPublished - 2013 Jan 1

Fingerprint

Deterioration
Partial backlogging
Time-varying
Inventory model
Stock-dependent demand
Costs
Optimal solution
Sensitivity analysis
Shortage
Opportunity cost
Deteriorating items
Uniqueness

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Cite this

@article{1d6b0d9bcc2d4d2cb3db417c7358f357,
title = "An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand",
abstract = "This paper expands an inventory model for deteriorating items with stock-dependent demand. This model provides time varying backlogging rate as well as time varying deterioration rate. The aim of this model is to determine the optimal cycle length of each product such that the expected total cost (holding, shortage, ordering, deterioration and opportunity cost) is minimized. Further, the necessary and sufficient conditions are provided to show the existence and uniqueness of the optimal solution. Lastly, some numerical examples, sensitivity analysis along with graphical representations are shown to illustrate the practical application of the proposed model.",
author = "Biswajit Sarkar and Sumon Sarkar",
year = "2013",
month = "1",
day = "1",
doi = "10.1016/j.econmod.2012.09.049",
language = "English",
volume = "30",
pages = "924--932",
journal = "Economic Modelling",
issn = "0264-9993",
publisher = "Elsevier",
number = "1",

}

An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand. / Sarkar, Biswajit; Sarkar, Sumon.

In: Economic Modelling, Vol. 30, No. 1, 01.01.2013, p. 924-932.

Research output: Contribution to journalArticle

TY - JOUR

T1 - An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand

AU - Sarkar, Biswajit

AU - Sarkar, Sumon

PY - 2013/1/1

Y1 - 2013/1/1

N2 - This paper expands an inventory model for deteriorating items with stock-dependent demand. This model provides time varying backlogging rate as well as time varying deterioration rate. The aim of this model is to determine the optimal cycle length of each product such that the expected total cost (holding, shortage, ordering, deterioration and opportunity cost) is minimized. Further, the necessary and sufficient conditions are provided to show the existence and uniqueness of the optimal solution. Lastly, some numerical examples, sensitivity analysis along with graphical representations are shown to illustrate the practical application of the proposed model.

AB - This paper expands an inventory model for deteriorating items with stock-dependent demand. This model provides time varying backlogging rate as well as time varying deterioration rate. The aim of this model is to determine the optimal cycle length of each product such that the expected total cost (holding, shortage, ordering, deterioration and opportunity cost) is minimized. Further, the necessary and sufficient conditions are provided to show the existence and uniqueness of the optimal solution. Lastly, some numerical examples, sensitivity analysis along with graphical representations are shown to illustrate the practical application of the proposed model.

UR - http://www.scopus.com/inward/record.url?scp=84870887052&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84870887052&partnerID=8YFLogxK

U2 - 10.1016/j.econmod.2012.09.049

DO - 10.1016/j.econmod.2012.09.049

M3 - Article

AN - SCOPUS:84870887052

VL - 30

SP - 924

EP - 932

JO - Economic Modelling

JF - Economic Modelling

SN - 0264-9993

IS - 1

ER -