Inventory Model for Three–parameter Weibull Deterioration and Partial Backlogging
Journal of Advances in Mathematics and Computer Science · pp. 1–9 · Published 17 Aug 2019
10.9734/jamcs/2019/v33i530189Abstract
This paper develops an economic order quantity inventory model for time dependent three parameters Weibull deterioration. Partially backlogged shortages are considered. The demand rate is deterministic and time dependent. The rate of deterioration is time dependent. We have derived the most favorable order quantity model by minimizing the entire inventory cost. A numerical illustration has been carried out to evaluate the result of parameters on decision variables and the total average cost of the model. The research focus of this paper is to derive the optimum order quantity by minimizing the total inventory cost.
Cited by 3
Enobong Francis Udoumoh, Oluwabunmi Chidinma Ogundare, Onuche Agada · STEAM-H: Science, Technology, Engineering, Agriculture, Mathematics & Health · 2023
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