Authors: Umakanta Mishra; Chaitany Kumar Tripathy
Addresses: Faculty of Science and Technology, ICFAI University, Tripura, Kamalghat, Sadar, West Tripura-799210, India ' Department of Statistics, Sambalpur University, Jyoti Vihar, Sambalpur-768019, Odisha, India
Abstract: In this paper, we consider an inventory model for deteriorating items with salvage value. We have considered time dependent Weibull deterioration in developing this model. Three parameter Weibull distributions have been used for this purpose. A numerical example is provided here for illustration. The sensitivity analysis has also been carried out to study the effect of changes in parameters using the numerical example.
Keywords: inventory modelling; Weibull distributions; salvage value; deteriorating items.
International Journal of Logistics Systems and Management, 2015 Vol.22 No.1, pp.67 - 76
Received: 18 Mar 2014
Accepted: 28 Jun 2014
Published online: 22 Jul 2015 *