TITLE:
A Production Inventory Model of Constant Production Rate and Demand of Level Dependent Linear Trend
AUTHORS:
Shirajul Islam Ukil, Md. Sharif Uddin
KEYWORDS:
Production Inventory, Level Dependent Linear Trend, Constant Production Rate
JOURNAL NAME:
American Journal of Operations Research,
Vol.6 No.1,
January
26,
2016
ABSTRACT: The proposed model considers the products with finite shelf-life which causes a small amount of decay. The market demand is assumed to be level dependent and in a linear form. The model has also considered the constant production rate which stops attaining a desired level of inventories and that is the highest level of inventories. Production starts with a buffer stock and without any sort of backlogs. Due to the market demand and product’s decay, the inventory reduces to the level of buffer stock where again the production cycle starts. With a numerical search procedure the proof of the proposed model has been shown. The objective of the model is to obtain the total average optimum inventory cost and optimum ordering cycle.