Title: A volume flexible two-warehouse model with fluctuating demand and holding cost under inflation
Authors: Ajay Singh Yadav; Anupam Swami
Addresses: Department of Mathematics, SRM University Institute of Science and Technology, (Formerly known as SRM University), Delhi-NCR Campus Ghaziabad, Uttar Pradesh, India ' Department of Mathematics, Government P.G. College, Sambhal, Uttar Pradesh, India
Abstract: This article develops a two-warehouse inventory model for decaying items under a volume flexible production system. The variable demand rate is taken into consideration. Unit production cost is considered to be dependent on production rate, tool cost and dye cost. The own warehouse is taken of fixed capacity. The objective of this study is to determine the optimal schedule, for this purpose solution procedure is provided. A numerical assessment with sensitivity of different system parameters is also given to illustrate the concept of the model.
Keywords: inflation; volume flexibility; variable demand; two-warehouse.
International Journal of Procurement Management, 2019 Vol.12 No.4, pp.441 - 456
Received: 28 Sep 2017
Accepted: 25 Jul 2018
Published online: 29 Jul 2019 *