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An Inventory Model for Items with Two Parameter Weibull Distribution Deterioration and Backlogging
Sri GVG Visalakshi College for Women, Udumalpet, India
Sri GVG Visalakshi College for Women, Udumalpet, India
- 1 Sri GVG Visalakshi College for Women, Udumalpet, India
- 2 Sri GVG Visalakshi College for Women, Udumalpet, India
American Journal of Operations Research·Volume 02 (2012)·Pages 247–252·Published 20 June 2012·DOI10.4236/ajor.2012.22029
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Abstract
In this paper an inventory model is developed with time dependent power pattern demand and shortages due to deterioration and demand. The deterioration is assumed to follow a two parameter Weibull distribution. Three different cases with complete, partial, no backlogging are considered. The optimal analytical solution of the model is derived. Suitable numerical example has been discussed to understand the problem. Further sensitivity analysis of the decision variables has been done to examine the effect of changes in the values of the parameters on the optimal inventory policy.
KeywordsInventoryWeibull DeteriorationShortagesPower DemandPartial BackloggingComplete Backlogging
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