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A production‐inventory model under stock‐dependent demand, Weibull distribution deterioration and shortage
Author(s) -
Roy T.,
Chaudhuri K. S.
Publication year - 2009
Publication title -
international transactions in operational research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.032
H-Index - 52
eISSN - 1475-3995
pISSN - 0969-6016
DOI - 10.1111/j.1475-3995.2008.00676.x
Subject(s) - weibull distribution , economic shortage , stock (firearms) , econometrics , production rate , production (economics) , production model , economics , mathematics , statistics , microeconomics , engineering , industrial engineering , mechanical engineering , linguistics , philosophy , government (linguistics)
In the present article, we establish two production inventory models (Model I and Model II) for deteriorating items when the demand rate depends on the instantaneous inventory level. The production rate depends not only on the stock level but also on the demand. In both the models, we consider the Weibull distribution deterioration. Model I is developed and solved without allowing shortages whereas Model II is developed and solved allowing shortages that are backlogged. Three numerical examples are given to illustrate the solution procedure of the two models. Sensitivity analysis is also carried out.