Inventory model with deteriorating items,ramp-type demand and partially backlogged shortages for a two warehouse system |
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Authors: | Swati Agrawal Snigdha Banerjee Sotirios Papachristos |
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Affiliation: | 1. School of Statistics, Devi Ahilya University, Indore 452 017, India;2. M.B. Khalsa College, Indore 452 002, India;3. Hellenic Open University, Parodos Aristotelous 18, 26 335 Patra, Greece |
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Abstract: | In this paper, we consider a two warehouse inventory model, an owned one (OW) and a rented one (RW). Inventory deteriorates in the two warehouses at different constant rates, demand rate is a general ramp-type function of time and shortages are partially backlogged at a constant rate. Existence and uniqueness of the optimal solution is discussed. An algorithm is developed to obtain the overall optimal replenishment policy, which would enable the manager to decide upon the feasibility of renting a warehouse. The dynamics of the model and application of the algorithm are demonstrated through numerical examples. Sensitivity analysis is conducted with respect to model parameters and some important observations are drawn. |
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Keywords: | Inventory Ramp-type demand Deterioration Two warehouse storage facility Partially-backlogged shortages |
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