A Deterministic Inventory System with Weibull Distribution Deterioration and Ramp Type Demand Rate

Abstract

A continuous order-level inventory model is developed for deteriorating items with a ramp type demand function of time. A two parameter Weibull distribution is taken to represent the time to deterioration. The model is solved analytically by enumerating two possible shortage models to obtain the optimal solution of the problem. The method is illustrated by two numerical examples and sensitivity analysis of the optimal solutions with respect to the parameters of the system are carried out.