Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

An Inventory Model for Both Variable Holding and Sales Revenue Cost


Affiliations
1 Department of Mathematics, D.N. (PG) College, Meerut, U.P, India
2 Department of Computer Science, GRD Institute of Management and Technology Engineering College, Dehradun, U.K, India
3 Department of Mathematics, B K Birla Institute of Engineering and Technology, Pilani, Rajasthan, India
     

   Subscribe/Renew Journal


This paper discusses the inventory models for non-instantaneously deteriorating items with stock dependent demand. The holding cost is the increasing function of time and sales revenue cost is taken as decreasing linear function of time. This consideration has enhanced developing mathematical model for optimal order quantity and the total profits value with respect to major parameters is approved out with the facilitate of numerical example.

Keywords

Inventory, Time Dependant Increasing Holding Cost, Time Dependant Decreasing Sales Revenue Cost, Stock-Dependent Demand.
Subscription Login to verify subscription
User
Notifications
Font Size


  • Ghare, P.M. Schrader, G.P. (1963) A model for an exponentially decaying inventory. Journal of Industrial Engineering. 14, 5, 238-243.
  • Gupta, R. and Vrat, P. (1986) Inventory model with multi-items under constraint systems for stock dependent consumption rate, Operations Research 24, 41–42.
  • Wu, K.S., Ouyang, L.Y. and Yang, C.T. (2006) An optimal replenishment policy for non-instantaneous deteriorating items with stock-dependent demand and partial backlogging, International Journal of Production Economics, 101, 369–384
  • Roy, A. (2008) An inventory model for deteriorating items with price dependent demand and time varying holding cost, Advanced Modeling and Optimization. 10, 1, 25-37.
  • Malik, A. K., Singh, S. R. and Gupta, C. B. (2008). An inventory model for deteriorating items under FIFO dispatching policy with two warehouse and time dependent demand, Ganita Sandesh Vol. 22, No. 1, 47-62.
  • Geetha, K.V. and Uthayakumar R. (2010) Economic design of an inventory policy for non-instantaneous deteriorating items under permissible delay in payments, J. Comput. Appl. Math. 233, 2492–2505.
  • Chang, C.T., J. T. and Goyal S. K. (2010) Optimal replenishment policies for non-instantaneous deteriorating items with stock-dependent demand, International Journal of Production Economics, Volume 123, 62–68.
  • Sarkar, S., Sana, S.S. and Chaudhuri, K. (2010). A finite replenishment model with increasing demand under inflation, Int. J. Math. Oper. Res., 2(3), 347–385.
  • Singh, S.R., Malik, A.K., (2010). Inventory system for decaying items with variable holding cost and two shops, International Journal of Mathematical Sciences, Vol. 9, No. 3-4, 489-511.
  • Sana, S.S. (2010). Optimal selling price and lot size with time varying deterioration and partial backlogging, Appl. Math. Comput., 217, 185–194.
  • Singh, S.R. and Malik, A.K. (2010). Optimal ordering policy with linear deterioration, exponential demand and two storage capacity, Int. J. Math. Sci., 9(3-4), 513–528.
  • Malik, A.K., and Sharma, A. (2011).An Inventory Model for Deteriorating Items with Multi-Variate Demand and Partial Backlogging Under Inflation, International Journal of Mathematical Sciences, Vol. 10, No. 3-4, 315-321.
  • Gupta K. K., Sharma, A., Singh, P. R. and Malik, A. K.(2013) Optimal Ordering Policy for Stock-dependent Demand Inventory Model with Non-Instantaneous Deteriorating Items, International Journal of Soft Computing and Engineering 3, 279-281.
  • Sarkar B. and Sarkar, S. (2013) An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand, Economic Modelling, 30, 924–932.
  • Singh, Y., Malik, A. K. and Kumar S. (2014). An Inflation Induced Stock-Dependent Demand Inventory Model with Permissible delay in Payment, International Journal of Computer Applications, Vol. 96, No., 25, 14-18.
  • Yang, S., Hong, K. and Lee C. (2014) Supply chain coordination with stock-dependent demand rate and credit incentives, International Journal of Production Economics, 157,105–111.
  • Chang, C. T, Cheng, M.C. and Ouyang, L. Y. (2015) Optimal pricing and ordering policies for non-instantaneously deteriorating items under order-size-dependent delay in payments, Applied Mathematical Modelling, 39, 747–763.
  • Vashisth, V., Tomar, Ajay, Soni, R. and Malik, A. K. (2015). An Inventory Model for Maximum Life Time Products under the Price and Stock Dependent Demand Rate, International Journal of Computer Applications 132 (15), 32-36.
  • Vashisth, V., Tomar, Ajay, Shekhar, C. and Malik, A. K. (2016) A Trade Credit Inventory Model with Multivariate Demand for Non-Instantaneous Decaying products, Indian Journal of Science and Technology, Vol. 9, No., 15, 1-6.
  • Malik, A. K., Tomar, A. and Chakraborty D. (2016). Mathematical Modelling of an inventory model with linear decreasing holding cost and stock dependent demand rate, International Transactions in Mathematical Sciences and Computers, Vol. 9, 97-104.
  • Kumar, S., Malik, A. K., Sharma, A., Yadav, S. K. and Singh, Y. (2016) An Inventory Model with linear holding cost and Stock-Dependent Demand for Non-Instantaneous Deteriorating Items, AIP Conference Proceedings 1715, 020058 (2016); doi: 10.1063/1.4942740.
  • Malik, A. K., Shekhar, C., Vashisth, V., Chaudhary, A.K., and Singh, S. R. (2016) Sensitivity analysis of an inventory model with non-instantaneous and time-varying deteriorating Items, AIP Conference Proceedings 1715, 020059, doi: 10.1063/1.4942741.
  • Malik, A. K. Malik, Singh, P. R., Tomar, A., Kumar, S. and Yadav, S. K. (2016) Analysis of an Inventory Model for Both Linearly Decreasing Demand and Holding Cost, AIP Conference Proceedings 1715, 020063; doi: 10.1063/1.4942745.

Abstract Views: 44

PDF Views: 0




  • An Inventory Model for Both Variable Holding and Sales Revenue Cost

Abstract Views: 44  |  PDF Views: 0

Authors

Satish Kumar
Department of Mathematics, D.N. (PG) College, Meerut, U.P, India
Yashveer Singh
Department of Computer Science, GRD Institute of Management and Technology Engineering College, Dehradun, U.K, India
A. K. Malik
Department of Mathematics, B K Birla Institute of Engineering and Technology, Pilani, Rajasthan, India

Abstract


This paper discusses the inventory models for non-instantaneously deteriorating items with stock dependent demand. The holding cost is the increasing function of time and sales revenue cost is taken as decreasing linear function of time. This consideration has enhanced developing mathematical model for optimal order quantity and the total profits value with respect to major parameters is approved out with the facilitate of numerical example.

Keywords


Inventory, Time Dependant Increasing Holding Cost, Time Dependant Decreasing Sales Revenue Cost, Stock-Dependent Demand.

References