Some products like green vegetables, volatile liquids and others deteriorate continuously due to evaporation, spoilage etc. In this study, an inventory model is developed for deteriorating items with linearly time dependent demand rate under inflation and time discounting over a finite planning horizon. Shortages are allowed and linearly time dependent. Mathematical model is presented for the p...

We study inventorymanagement problemswhere demands are revealed incrementally and procurement decisionsmust bemade before the demands are realized. There are no probabilistic distributions nor nontrivial bounds to characterize demands. We consider two cost minimization problems: (1) perishable products with lost sales and (2) durable products with backlogged demand. In both problems, costs are ...

A finite time horizon inventory problem for a deteriorating item having two separate warehouses, one is a own warehouse (OW) of finite dimension and other a rented warehouse (RW), is developed with interval-valued lead-time under inflation and time value of money. Due to different preserving facilities and storage environment, inventory holding cost is considered to be different in different wa...

This article deals with an economic order quantity (EOQ) inventory model for items with imperfect quality in fuzzy stochastic environment, wherein shortages are allowed and completely backlogged. Fuzzy stochastic environment means linguistic ‘impreciseness’ and statistical ‘uncertainty’ both appear simultaneously. Due to uncertain demand trend, imperfect production process, natural disaster etc...

A finite horizon inventory model for a single deteriorating product is studied. The system is under periodic review and there is a positive fixed order cost associated with any placed order. The demand in successive periods is independent and identically distributed. A constant fraction of any positive leftover stock is deteriorated at the end of each period. Any unsatisfied demand is partially...

Recently, Skouri et al. (2009) proposed two inventory models with general ramp-type demand rate, Weibull deterioration rate, and partial backlogging of unsatisfied demand: (a) Model 1 was starting with no shortages, and Model 2 was starting with shortages. They derived the optimal solutions for both models. Then they ran 2 numerical examples, and concluded that ”the total cost for the model sta...