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Sivashankari, C. K.
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering

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PURCHASING INVENTORY MODELS FOR DETERIORATING ITEMS WITH QUADRATIC DEMAND Sivashankari, C. K.
Jurnal Teknik Industri Vol 20, No 2 (2019): August
Publisher : Department Industrial Engineering, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (487.732 KB) | DOI: 10.22219/JTIUMM.Vol20.No2.204-217

Abstract

This paper deals with purchasing inventory replenishment policy for deteriorating items consider with the time-dependent quadratic demand and time-dependent backlogging. Two models were formulated and solved. First, it is for deteriorating items with quadratically time-dependent demand for deteriorating items. Second, quadratically time-dependent demand for deteriorating items and shortages. A mathematical model is developed to the fourth-order equation for each model, and the optimal production lot size, which minimizes the total cost is derived. Sensitivity analysis is carried out to demonstrate the effects of changing parameter values on the optimal solution of the system. Numerical examples are taken to illustrate the procedure of finding the optimal inventory cost, cycle time, and optimal lot size. The numerical experiment in this model was coded in Microsoft Visual Basic 6.0.
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