Title: Innovative approach of stock-linked demand dependent production inventory model with decline deterioration
Authors: R.P. Tripathi; Sachin Mishra
Addresses: Department of Applied Sciences and Humanities, KNIT, Sultanpur (UP), India ' Department of Applied Sciences and Humanities, KNIT, Sultanpur (UP), India
Abstract: In this paper, a production inventory model is considered for stock-dependent demand with the effect of deterioration. Generally, every industrialised organisation wants to produce perfect quality commodities. However, due to real-life problems (raw material, political problem, labour problem, machine breakdown, lock off, etc.) products produced by manufacturing process are not having perfect quality. Damage, deterioration, spoilage also affect the production process. In this model, production rate is considered to be larger than demand rate. Mathematical formulation is presented to locate best possible cycle time and entire inventory cost. Numerical examples and sensitivity analysis are provided to authenticate the model projected in this study. Graphical illustrations are provided to discuss the optimality of the model.
Keywords: stock-linked demand; deterioration; production; inventory; cycle time.
International Journal of Inventory Research, 2020 Vol.5 No.4, pp.251 - 262
Received: 15 Aug 2019
Accepted: 24 Jan 2020
Published online: 16 Sep 2020 *