TITLE:
A Note on an Order Level Inventory Model with Varying Two-Phased Demand and Time-Proportional Deterioration
AUTHORS:
Sephali Mohanty, Trailokyanath Singh, Sudhansu Sekhar Routary, Chinmayee Naik
KEYWORDS:
Deteriorating Items, EOQ (Economic Order Quantity), Inventory, Time-Proportional Deterioration, Two-Phased Demand
JOURNAL NAME:
American Journal of Operations Research,
Vol.14 No.1,
January
22,
2024
ABSTRACT: The main purpose of this paper is to
generalize the effect of two-phased demand and variable deterioration within
the EOQ (Economic Order Quantity) framework. The rate of deterioration is a
linear function of time. The two-phased
demand function states the constant function for a certain
period and the quadratic function of time for the rest part of the cycle time. No shortages as well as partial backlogging
are allowed to occur. The mathematical expressions are derived for determining
the optimal cycle time, order quantity and total cost function. An easy-to-use working procedure is provided to calculate the
above quantities. A couple of numerical examples are cited to explain the theoretical
results and sensitivity analysis of some selected examples is carried
out.