AN OPTIMAL REPLENISHMENT POLICY FOR PERISHABLE ITEMS WITH STOCK-DEPENDENT DEMAND AND PARTIAL EXPONENTIAL TYPE BACKLOGGING
An economic order quantity system for items with Weibull distribution deterioration, stock-dependent demand, and exponential partial backlogging has been addressed. The deterioration rate follows a two-parameterWeibull distribution. The demand rate is deterministic and is a known function of instantaneous inventory level. Thebacklogging rate is an exponential function, which depends on waiting time for the next replenishment and on thelength of the shortage cycle. In the present inventory model, five costs are considered: holding cost, deterioration cost,shortage cost, purchase cost and opportunity cost due to lose sales. The analytical formulations of the problem on thegeneral framework have been given, which cannot be solved directly in an explicit form. Thus the Mathematica software which can perform symbolic as well as numerical analysis has been used to minimize the average total cost perunit time and to find the optimal reorder time and ordering quantities. The inventory model is illustrated with the helpof some numerical examples. Sensitivity of the optimal solution to changes in the values of some key parameters hasalso investigated, and therefore the influences of the parameters on the replenishment time and ordering quantity havebeen obtained.
Deteriorating items Stock-dependent demand Partial backlogging Inventory model
Ji Liqun
Intemational Business School,Shanghai Institute of Foreign Trade,1900 Wexiang Road,Shanghai 201620,China
国际会议
第六届物流技术与装备国际学术会议(The 6th International Conference on Material Handling)(ICMH 2008)
北京
英文
134-138
2008-10-27（万方平台首次上网日期，不代表论文的发表时间）