Abstract
A Continuous production control inventory model is developed for a deteriorating item having shortages and variable production cycle. It is assumed that the production rate is changed to another at a time when the inventory level reaches a prefixed level and continued until the inventory level reaches the level . The demand rate is assumed to be constant, and the production cycle T is taken as variable. The production is started again at a time when the shortage level reaches a prefixed quantity . For this model, the total cost per unit time as a function of , , S, and T is derived. The optimal decision rules for , , S, and T are computed. The sensitivity of the optimal solution towards changes in the values of different system parameters is also studied. Results are illustrated by numerical examples.
Highlights
EOQ inventory models have long been attracting considerable amount of research attention
ISRN Applied Mathematics account when analyzing the system. Research in this direction began with the work of Whitin 1 who considered fashion goods deteriorating at the end of a prescribed storage period
An order-level inventory model for items deteriorating at a constant rate was discussed by Shah and Jaiswal 3
Summary
EOQ inventory models have long been attracting considerable amount of research attention. A production inventory model with two rates of production and backorders is analyzed by Perumal and Arivarignan , Samanta and Roy. In the present paper, we have developed a continuous production control inventory model with variable production cycle for deteriorating items with shortages in which two different rates of production are available, and it is possible that production started at one rate and after some time it may be switched over to another rate. We have developed a continuous production control inventory model with variable production cycle for deteriorating items with shortages in which two different rates of production are available, and it is possible that production started at one rate and after some time it may be switched over to another rate Such a situation is desirable in the sense that by starting at a low rate of production, a large quantum stock of manufactured items at the initial stage is avoided, leading to reduction in the holding cost
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