This paper develops an inventory model for a deteriorating item with variable demand dependent on the selling price and frequency of advertisement of the item under the financial trade credit policy. Shortages are allowed and these are partially backlogged with a variable rate dependent on the duration of waiting time until to the arrival of next order. In this inventory model, the deterioration rate follows a three-parameter Weibull distribution. The corresponding inventory model is formulated and solved by using the well-known generalized reduced gradient method along with an algorithm. To validate the inventory model, two numerical examples are considered and solved. Finally, based on one numerical example, the impacts of different parameters are studied by a sensitivity analysis considering one parameter at a time and leaving the other parameters fixed.
Accepté le :
DOI : 10.1051/ro/2017052
Mots-clés : Deterioration, Weibull distribution, advertise and price dependent demand, partially backlogged shortage, credit policy
@article{RO_2019__53_3_903_0,
author = {Shaikh, Ali Akbar and C\'ardenas{\textendash}Barr\'on, Leopoldo Eduardo and Bhunia, Asoke Kumar and Tiwari, Sunil},
title = {An inventory model of a three parameter {Weibull} distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit},
journal = {RAIRO - Operations Research - Recherche Op\'erationnelle},
pages = {903--916},
publisher = {EDP-Sciences},
volume = {53},
number = {3},
year = {2019},
doi = {10.1051/ro/2017052},
zbl = {1423.90016},
mrnumber = {3979008},
language = {en},
url = {http://www.numdam.org/articles/10.1051/ro/2017052/}
}
TY - JOUR AU - Shaikh, Ali Akbar AU - Cárdenas–Barrón, Leopoldo Eduardo AU - Bhunia, Asoke Kumar AU - Tiwari, Sunil TI - An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit JO - RAIRO - Operations Research - Recherche Opérationnelle PY - 2019 SP - 903 EP - 916 VL - 53 IS - 3 PB - EDP-Sciences UR - http://www.numdam.org/articles/10.1051/ro/2017052/ DO - 10.1051/ro/2017052 LA - en ID - RO_2019__53_3_903_0 ER -
%0 Journal Article %A Shaikh, Ali Akbar %A Cárdenas–Barrón, Leopoldo Eduardo %A Bhunia, Asoke Kumar %A Tiwari, Sunil %T An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit %J RAIRO - Operations Research - Recherche Opérationnelle %D 2019 %P 903-916 %V 53 %N 3 %I EDP-Sciences %U http://www.numdam.org/articles/10.1051/ro/2017052/ %R 10.1051/ro/2017052 %G en %F RO_2019__53_3_903_0
Shaikh, Ali Akbar; Cárdenas–Barrón, Leopoldo Eduardo; Bhunia, Asoke Kumar; Tiwari, Sunil. An inventory model of a three parameter Weibull distributed deteriorating item with variable demand dependent on price and frequency of advertisement under trade credit. RAIRO - Operations Research - Recherche Opérationnelle, Tome 53 (2019) no. 3, pp. 903-916. doi : 10.1051/ro/2017052. http://www.numdam.org/articles/10.1051/ro/2017052/
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