An overtime production inventory model for deteriorating items with nonlinear price and stock dependent demand

Abstract The goal of this work is to discuss a production inventory model for deteriorating items with nonlinear price and linear stock dependent market demand along with an overtime production opportunity. The corresponding optimization problem is articulated mathematically and hence solved by using lingo software. To examine the proposed nonlinear optimization problem’s significance, one numerical example is deliberated. A sensitivity analysis is accomplished on the basis of the systematic changes of the system parameters. As a final point, based on the accomplished analysis an effectual conclusion is reflected.

[1]  Chih-Te Yang.  An inventory model with both stock-dependent demand rate and stock-dependent holding cost rate , 2014 .

[2]  R. Uthayakumar,et al.  Designing a new computational approach of partial backlogging on the economic production quantity model for deteriorating items with non-linear holding cost under inflationary conditions , 2011, Optim. Lett..

[3]  Devendra Kumar,et al.  Novel exact solutions of the fractional Bogoyavlensky–Konopelchenko equation involving the Atangana-Baleanu-Riemann derivative , 2020 .

[4]  Liang-Yuh Ouyang,et al.  An EOQ model for perishable items under stock-dependent selling rate and time-dependent partial backlogging , 2005, Eur. J. Oper. Res..

[5]  Suresh Kumar Goyal,et al.  An application of tournament genetic algorithm in a marketing oriented economic production lot-size model for deteriorating items , 2009 .

[6]  Mostafa M. A. Khater,et al.  The new structure of analytical and semi-analytical solutions of the longitudinal plasma wave equation in a magneto-electro-elastic circular rod , 2020, Modern Physics Letters B.

[7]  K. S. Chaudhuri,et al.  A production-inventory model under stock-dependent demand, Weibull distribution deterioration and shortage , 2009, Int. Trans. Oper. Res..

[8]  E. Chandrasekaran,et al.  An Inventory Model For Deteriorating Items With Three Parameter Weibull Deterioration And Price Dependent Demand , 2013 .

[9]  Ali Akbar Shaikh,et al.  A two-warehouse EOQ model with interval-valued inventory cost and advance payment for deteriorating item under particle swarm optimization , 2019, Soft Comput..

[10]  R. Levin.  Production/Operations Management: Contemporary Policy for Managing Operating Systems , 1983 .

[11]  A. Goswami,et al.  A deterministic inventory model for deteriorating items with stock-dependent demand rate , 1993 .

[12]  Angappa Gunasekaran,et al.  An integrated production-inventory-marketing model for deteriorating items , 1995 .

[13]  Izak Duenyas,et al.  Optimal Pricing, Production, and Inventory for New Product Diffusion Under Supply Constraints , 2014, Manuf. Serv. Oper. Manag..

[14]  Liang-Yuh Ouyang,et al.  Optimal pricing, shipment and payment policy for an integrated supplier-buyer inventory model with two-part trade credit , 2008, Eur. J. Oper. Res..

[15]  S. R. Singh,et al.  Inflationary implications on an inventory with expiration date, capital constraint and uncertain lead time in a multi-echelon supply chain , 2011 .

[16]  Hamilton Emmons,et al.  A Replenishment Model for Radioactive Nuclide Generators , 1968 .

[17]  Jiang Wu,et al.  Optimal credit period and lot size for deteriorating items with expiration dates under two-level trade credit financing , 2014, Eur. J. Oper. Res..

[18]  S. K. Goyal,et al.  On optimal partially integrated production and marketing policy with variable demand under flexibility and reliability considerations via Genetic Algorithm , 2007, Appl. Math. Comput..

[19]  Mostafa M. A. Khater,et al.  Exact Traveling and Nano-Solitons Wave Solitons of the Ionic Waves Propagating along Microtubules in Living Cells , 2020, Mathematics.

[20]  Jinn-Tsair Teng,et al.  Inventory and credit decisions for time-varying deteriorating items with up-stream and down-stream trade credit financing by discounted cash flow analysis , 2015, Eur. J. Oper. Res..

[21]  Ata Allah Taleizadeh,et al.  Inventory system with expiration date: Pricing and replenishment decisions , 2019, Comput. Ind. Eng..

[22]  Mohamed Nazih Omri,et al.  Computational solutions of the HIV-1 infection of CD4+T-cells fractional mathematical model that causes acquired immunodeficiency syndrome (AIDS) with the effect of antiviral drug therapy , 2020, Chaos, Solitons & Fractals.

[23]  L. Ouyang,et al.  An optimal replenishment policy for non-instantaneous deteriorating items with stock-dependent demand and partial backlogging , 2006 .

[24]  Xiuli Chao,et al.  Optimal pricing and inventory policies with reliable and random-yield suppliers: characterization and comparison , 2016, Ann. Oper. Res..

[25]  Ali Akbar Shaikh,et al.  Inventory models for perishable items with advanced payment, linearly time-dependent holding cost and demand dependent on advertisement and selling price , 2020 .

[26]  Ali Akbar Shaikh,et al.  Non-instantaneous deterioration effect in ordering decisions for a two-warehouse inventory system under advance payment and backlogging , 2020, Ann. Oper. Res..

[27]  R. Misra.  Optimum production lot size model for a system with deteriorating inventory , 1975 .

[28]  ABDEL-HALEEM ABDEL-ATY,et al.  ON EXPLICIT WAVE SOLUTIONS OF THE FRACTIONAL NONLINEAR DSW SYSTEM VIA THE MODIFIED KHATER METHOD , 2020 .

[29]  K. S. Chaudhuri,et al.  Economic Order Quantity model with Weibull deterioration distribution, shortage and ramp-type demand , 2003, Int. J. Syst. Sci..

[30]  Mostafa M. A. Khater,et al.  Novel soliton waves of two fluid nonlinear evolutions models in the view of computational scheme , 2020 .

[31]  Zhao Pei-xin,et al.  An EOQ Model for Items with Weibull Distribution Deterioration , 2007, 2007 2nd IEEE Conference on Industrial Electronics and Applications.

[32]  Asoke Kumar Bhunia,et al.  An inventory model of deteriorating items with lot-size dependent replenishment cost and a linear trend in demand , 1999 .

[33]  Ali Akbar Shaikh,et al.  A credit policy approach in a two-warehouse inventory model for deteriorating items with price- and stock-dependent demand under partial backlogging , 2019 .

[34]  Manoranjan Maiti,et al.  Deterministic inventory models for variable production , 1997 .

[35]  C. V. Balan,et al.  An order-level lot size inventory model with inventory-level dependent demand and deterioration , 1997 .

[36]  Ali Akbar Shaikh,et al.  A partially integrated production-inventory model with interval valued inventory costs, variable demand and flexible reliability , 2017, Appl. Soft Comput..

[37]  Dumitru Baleanu,et al.  On abundant new solutions of two fractional complex models , 2020 .

[38]  K. S. Chaudhuri,et al.  A production-inventory model for a deteriorating item with trended demand and shortages , 2004, Eur. J. Oper. Res..

[39]  Hui-Ming Wee,et al.  Optimal ordering decision for deteriorating items with expiration date and uncertain lead time , 2007, Comput. Ind. Eng..

[40]  Dianchen Lu,et al.  On the numerical investigation of the interaction in plasma between (high & low) frequency of (Langmuir & ion-acoustic) waves , 2020 .

[41]  Subrata Saha,et al.  Optimal pricing and lot-sizing for perishable inventory with price and time dependent ramp-type demand , 2013, Int. J. Syst. Sci..

[42]  K. S. Chaudhuri,et al.  AN ORDER-LEVEL INVENTORY MODEL FOR A DETERIORATING ITEM WITH WEIBULL DISTRIBUTION DETERIORATION , TIME-QUADRATIC DEMAND AND SHORTAGES , 2004 .

[43]  Mostafa M. A. Khater,et al.  Inelastic Interaction and Blowup New Solutions of Nonlinear and Dispersive Long Gravity Waves , 2020 .

[44]  K. S. Chaudhuri,et al.  An EOQ model for items with weibull distribution deterioration, shortages and trended demand: an extension of philip's model , 1998, Comput. Oper. Res..

[45]  Ioannis Konstantaras,et al.  Two-warehouse inventory model for deteriorating items with partial backlogging and advance payment scheme , 2019, RAIRO Oper. Res..

[46]  Mostafa M. A. Khater,et al.  Copious Closed Forms of Solutions for the Fractional Nonlinear Longitudinal Strain Wave Equation in Microstructured Solids , 2020 .

[47]  Timothy L. Urban,et al.  A Deterministic Inventory System with an Inventory-Level-Dependent Demand Rate , 1988 .

[48]  Md. Al-Amin Khan,et al.  Optimal lot-size decision for deteriorating items with price-sensitive demand, linearly time-dependent holding cost under all-units discount environment , 2020 .

[49]  Ali Akbar Shaikh,et al.  The effect of advance payment with discount facility on supply decisions of deteriorating products whose demand is both price and stock dependent , 2020, Int. Trans. Oper. Res..

[50]  Subhajit Das,et al.  A production inventory model with partial trade credit policy and reliability , 2020 .

[51]  Ali Akbar Shaikh,et al.  An application of interval differential equation on a production inventory model with interval‐valued demand via center‐radius optimization technique and particle swarm optimization , 2020, Int. J. Intell. Syst..

[52]  Luis A. San-José,et al.  Optimal lot-size policy for deteriorating items with stock-dependent demand considering profit maximization , 2018, Comput. Ind. Eng..

[53]  Ali Akbar Shaikh,et al.  An inventory model for deteriorating items with preservation facility of ramp type demand and trade credit , 2020, Int. J. Math. Oper. Res..

[54]  Ioannis Konstantaras,et al.  Price discount facility in an EOQ model for deteriorating items with stock-dependent demand and partial backlogging , 2019, Int. Trans. Oper. Res..

[55]  Chung-Yuan Dye,et al.  An inventory model for deteriorating items under stock-dependent demand and controllable deterioration rate , 2012, Comput. Ind. Eng..

[56]  K. S. Chaudhuri,et al.  Promotional effort and quality sensitive two echelon production inventory model with partial backlogging , 2018, Int. J. Math. Oper. Res..