Open AccessTwo Warehouse Optimal Inventory Model for Non-Instantaneous Deteriorating Items
Author(s) -
K. Rangarajan,
K. Karthikeyan
Publication year - 2018
Publication title -
international journal of engineering and technology
Language(s) - English
Resource type - Journals
ISSN - 2227-524X
DOI - 10.14419/ijet.v7i4.10.26633
Subject(s) - fifo and lifo accounting , warehouse , stock (firearms) , reorder point , holding cost , operations research , economics , point (geometry) , computer science , economic order quantity , econometrics , operations management , mathematics , business , supply chain , fifo (computing and electronics) , engineering , mechanical engineering , geometry , marketing , computer hardware
In this article, an optimal ordering policy for the stock model of items, whose deterioration starts after a certain period of time under the dispatching policy Last in First Out (i.e. LIFO) in owned and rented warehouses is presented with the demand of the product increases up to a certain point and that remains constant, deterioration rate which depends on time and inflation. The main aim of the present article is to find an optimal inventory model, which minimizes the total stock cost. Finally, this model is analyzed through by numerical examples .