Work

Optimal inventory system for deteriorated goods with time-varying demand rate function and advertisement cost

Year: 2023

Type: article

Abstract: This research work presents a depleted demand inventory model with constant deterioration. The rate of change of demand is assumed to be a time-dependent function. Initial non-zero demand occurs due to advertisements. Advertisement cost is assumed to be constant. Two types of models are considered for two replenishment strategies viz., without shortages and with shortages. This study aims to obtain a suitable policy for replenishment for minimizing the total inventory cost. Four examples about the alterations made in the optimal solutions due to different values of independent parameters used in the models are considered and discussed. Sensitivity analysis is done and numerical illustrations are provided for validating the approach presented.

Source: Array

DOI: 10.1016/j.array.2023.100307

Authors: Palanivelu Saranya, Ekambaram Chandrasekaran

Institution: Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology

Language: English

Topic: Supply Chain and Inventory Management

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $1,420

OpenAlex ID: W4384156334

FWCI: 3.737

Cites: 25

Cited by: 13

Related to: 10