An Inventory Model based on Imperfect Production with Shortage Backorder
Anjali Harit1, Anurag Sharma2, S.R. Singh3
1Anjali Harit*, Department of Mathematics, D.N. College, Meerut (U.P), India.
2Anurag Sharma, Department of Mathematics, D.N. College, Meerut (U.P), India.
3S. R. Singh, Department of Mathematics, C. C. S. University, Meerut (U.P), India.
Manuscript received on July 21, 2020. | Revised Manuscript received on July 24, 2020. | Manuscript published on July 30, 2020. | PP: 89-92 | Volume-9 Issue-2, July 2020. | Retrieval Number: A3085059120/2020©BEIESP | DOI: 10.35940/ijrte.A3085.079220
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In this paper, we discussed about the imperfect items. In practice items may get damaged due to production or transportation conditions. Each lot receives some imperfect items. This model also considers the effects of business strategies such as optimal order size of raw materials, production rates and unit production costs, and idle time in different areas on the cooperation of marketing systems. The model can be used in industries such as textiles and footwear, chemicals, food. We develop an inventory model based on imperfect products and shortages. We consider demand is constant and continuous. Purpose of this study is not only to find the retailer`s optimal replenishment policies but also to minimize the total average cost. Finally, a numerical example is presented to illustrate the proposed model and sensitivity analysis of the optimal solution concerning parameters is carried out using the Mathematica 10.0 software.
Keywords: Demand, Deterioration, Imperfect items, Inventory, Shortage Backordering.