English, Article edition: AN EOQ MODEL WITH GENERALIZED RAMP-TYPE DEMAND AND WEIBULL DISTRIBUTION DETERIORATION S. PANDA; S. SAHA; M. BASU

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Physical Description
  • article
Language
  • English

Edition details

Title
  • AN EOQ MODEL WITH GENERALIZED RAMP-TYPE DEMAND AND WEIBULL DISTRIBUTION DETERIORATION
Author
  • S. PANDA
  • S. SAHA
  • M. BASU
Physical Description
  • article
Notes
  • An inventory model is discussed with generalized ramp-type demand where the time to deterioration follows Weibull distribution. Shortages of inventories are allowed and completely backlogged. Total cost is derived by trading off setup cost, holding cost, deterioration cost, and shortage cost. The optimal replenishment policy for a single period is derived by minimizing the total cost per unit time over infinite time horizon. A numerical example is presented and sensitivity analysis is also carried out. The rationale for generalized ramp-type demand is discussed.
  • Inventory, ramp-type demand, deterioration, shortage
  • RePEc:wsi:apjorx:v:24:y:2007:i:01:p:93-109
Language
  • English
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