An Inventory Model with Three Rates of Production Rate under Stock and Time Dependent Demand for Time Varying Deterioration Rate with Shortages

( Vol-2,Issue-9,September 2016 )

Author(s): D.Sharmila, R.Uthayakumar

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Page No: 1595-1602
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Keywords:

Deterioration, Shortages, Stock-Time dependent demand, Weibull distribution.

Abstract:

An inventory model with three different rates of production rate and stock dependent demand is considered. Deterioration plays a vital role in present environment of market. In this paper, a two parameter Weibull distribution has been used to represent the deterioration rate. The objective is to determine the optimal total cost and the optimal time schedule of the plan for the proposed model. Some numerical examples have been carried out to illustrate the developed model.

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