Abstract
This paper presents an improved inventory model for deteriorating items with partial backlogging. Two-parameter Weibull distribution is used to represent the distribution of time to deterioration. It is appropriate for an item with decreasing rate of deterioration only if the initial rate of deterioration is extremely high. This distribution can also be used for an item with increasing rate of deterioration only if the initial rate is approximately zero. The theory for finding the optimal solution of the problem is developed. A numerical example is then taken to illustrate the solution procedure.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.