TY - JOUR
ID - 2797
TI - An Economic Order Quantity model for Decaying Products with the Frequency of Advertisement, Selling Price and Continuous Time Dependent Demand under Partially Backlogged Shortage
JO - International Journal of Supply and Operations Management
JA - IJSOM
LA - en
SN - 23831359
AU - Md Mashud, Abu
AU - Hasan, Md Rakibul
AD - Hajee Mohammad Danesh science and technology university, Baserhat, Dinajpur, Bangladesh
Y1 - 2019
PY - 2019
VL - 6
IS - 4
SP - 296
EP - 314
KW - Inventory
KW - constant deterioration
KW - partially backlogged shortages
KW - Price Dependent Demand
KW - continuous time and frequency of advertisement
DO - 10.22034/2019.4.2
N2 - An inventory model is proposed with consideration of price, frequency of advertisement, continuous time and partially backlogged shortages for instantaneous decaying products. The deterioration is considered as instantaneous i.e., when the item stock in retailerâ€™s house immediately deterioration will start with a constant rate for a certain period. If there are any shortages allowed, then it is partially backlogged. The main objective of this paper is to find the optimal cycle length (T) and the period where deterioration occurred (td) in order to minimize the total cost (TC) of the inventory system. The corresponding inventory problem constitutes a nonlinear constraint optimization problem. Here this problem is solved by using Lingo 15 software and also give a 3D graph with the help of MATLAB2017a to show the convexity of the objective function. Finally, to illustrate and validate the inventory model, a numerical example is considered with some realistic data. A sensitivity analysis is carried out to investigate the effect of changes of different inventory parameters, changing one parameter at a time and keeping the others value of parameters is same.
UR - http://www.ijsom.com/article_2797.html
L1 - http://www.ijsom.com/article_2797_14cab5d7d1087de54cc89a71aba2fe44.pdf
ER -