A New Technique Developed for production planning using parabolic demand by Laplace Transform

Namrata Tripathi¹

Section:Research Paper, Product Type: Journal-Paper
Vol.5 , Issue.8 , pp.49-55, Aug-2019

Online published on Aug 31, 2019

Copyright © Namrata Tripathi . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The objective of the present research paper is to apply parabolic demand to find an optimal solution for a production Inventory model with respect to deteriorating items using Laplace transform. In this study, the model has been framed to study material cost contributes 50 percent productions cost of an organization (i.e Industry). As a raw material, finished good and semi-finished good cost using production is associated with proper production planning and control of inventory. The inventories are related to raw material, work in progress, spares, equipment, and finished goods. Therefore managing a large amount of inventory is a very difficult task for the firms. Proper recording, dispatching, and ordering of these inventories are one of the important decision of a firm. Hence effective inventory control can substantially contribute to a firm’s profit. The objective of this research paper is to develop a mathematical model for deteriorating items such as e.g vegetables, milk, meat, radioactive materials, volatile liquids, etc with parabolic demand by Laplace transform to determine the optimal solution for proper management of inventory to reduce cost and maximize profit. The optimal solution is derived and an illustrative example is provided and numerically verified.

Key-Words / Index Term :
Inventory, Deteriorating, Parabolic Demand, Laplace transform and Cycle time

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