Optimal production cycle time for inventory model with linear time dependent exponential distributed deterioration

We study an inventory system with linear time varying exponential distributed deterioration in which production and demand rates are constant. The mathematical model is developed to obtain the total cost per unit time of an inventory system. The inventory controlling systems in terms of first order...

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Bibliographic Details
Published inJournal of intelligent & fuzzy systems Vol. 30; no. 2; pp. 1243 - 1248
Main Authors Baten, Md. Azizul, Khalid, Ruzelan
Format Journal Article
LanguageEnglish
Published London, England SAGE Publications 09.02.2016
Subjects
exponential distribution
performance measure
constant demand
linear time dependent deterioration
Inventory-production model
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Summary:We study an inventory system with linear time varying exponential distributed deterioration in which production and demand rates are constant. The mathematical model is developed to obtain the total cost per unit time of an inventory system. The inventory controlling systems in terms of first order differential equations are solved numerically. The optimal cycle time is derived and the results are applied to numerical problems. The effect of changes in the model parameters on decision variables and the average total cost of an inventory system are studied through numerical examples.
ISSN:1064-1246
1875-8967
DOI:10.3233/IFS-151850