Analytical Study of Deterministic Inventory Model with Consideration of Biquadratic Demand Rate and Weibull Distribution as Deterioration Rate

Analytical Study of Deterministic Inventory Model with Consideration of Biquadratic Demand Rate and Weibull Distribution as Deterioration Rate
Author(s):
SUMAN, VinodKumar
Keywords:
Deterioration, Biquadratic demand, Shortages, Total inventory cost, Weibull distribution.
Abstract
This work investigates an inventory model for decomposing items or products with a biquadratic demand over time and uses Weibull distribution as deterioration rate. Shortages are permissible in the model. It also demonstrates that the biquadratic demand function is convex and provides the best solution. The convexity of this model is demonstrated via a three-dimensional graphical representation. To double-check the model, an illustration is made. The ideal solution has been subjected to a sensitivity analysis concerning main parameters, and the results have been presented.
Article Details
Unique Paper ID: 156693 Publication Volume & Issue: Volume 9, Issue 4 Page(s): 642 - 651
Article Preview & Download

Share This Article

NCSEM 2024

National Conference on Sustainable Engineering and Management - 2024

Last Date: 15th March 2024

IJIRT.org enables door in research by providing high quality research articles in open access market.

Send us any query related to your research on editor@ijirt.org