Order Level Inventory Models for Deteriorating Seasonable/Fashionable Products with Time Dependent Demand and Shortages | Zendy

K. Skouri | Zendy; Ioannis Konstantaras | Zendy

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Order Level Inventory Models for Deteriorating Seasonable/Fashionable Products with Time Dependent Demand and Shortages

Author(s) -

K. Skouri,

Ioannis Konstantaras

Publication year - 2009

Publication title -

mathematical problems in engineering

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.262

H-Index - 62

eISSN - 1026-7077

pISSN - 1024-123X

DOI - 10.1155/2009/679736

Subject(s) - economic shortage , weibull distribution , order (exchange) , product (mathematics) , economics , econometrics , microeconomics , mathematics , statistics , finance , linguistics , philosophy , geometry , government (linguistics)

An order level inventory model for seasonable/fashionable products subject to a period of increasing demand followed by a period of level demand and then by a period of decreasing demand rate (three branches ramp type demand rate) is considered. The unsatisfied demand is partially backlogged with a time dependent backlogging rate. In addition, the product deteriorates with a time dependent, namely, Weibull, deterioration rate. The model is studied under the following different replenishment policies: (a) starting with no shortages and (b) starting with shortages. The optimal replenishment policy for the model is derived for both the above mentioned policies

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