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A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand
Namrata Tripathi1
- Dept. of Mathematics, Govt, P.G. College, Rajgarh, Dist.- Rajgarh, India.
Section:Research Paper, Product Type: Journal-Paper
Vol.7 ,
Issue.2 , pp.73-80, Dec-2019
Online published on Dec 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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IEEE Style Citation: Namrata Tripathi, “A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand,” World Academics Journal of Management, Vol.7, Issue.2, pp.73-80, 2019.
MLA Style Citation: Namrata Tripathi "A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand." World Academics Journal of Management 7.2 (2019): 73-80.
APA Style Citation: Namrata Tripathi, (2019). A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand. World Academics Journal of Management, 7(2), 73-80.
BibTex Style Citation:
@article{Tripathi_2019,
author = {Namrata Tripathi},
title = {A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand},
journal = {World Academics Journal of Management},
issue_date = {12 2019},
volume = {7},
Issue = {2},
month = {12},
year = {2019},
issn = {2347-2693},
pages = {73-80},
url = {https://www.isroset.org/journal/WAJM/full_paper_view.php?paper_id=1672},
publisher = {IJCSE, Indore, INDIA},
}
RIS Style Citation:
TY - JOUR
UR - https://www.isroset.org/journal/WAJM/full_paper_view.php?paper_id=1672
TI - A Novel Approach for Production Planning for Deteriorating Items with Logarithmic Demand
T2 - World Academics Journal of Management
AU - Namrata Tripathi
PY - 2019
DA - 2019/12/31
PB - IJCSE, Indore, INDIA
SP - 73-80
IS - 2
VL - 7
SN - 2347-2693
ER -
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Abstract :
In this study model has been framed to study material cost contributes 50 percent production cost of an organization (i.e Industry). Hence effective inventory control can substantially contribute in a firm’s profit. The objective of this research is to develop and production inventory model for deteriorating items with logarithmic demand and a unique optimal cycle time exists to minimize the annual total relevant cost. A suitable mathematical model is developed and the optimal production lot size which minimizes the total cost is derived. The optimal solution is derived and an illustrative example is provided and numerically verified. The validation of result in this model was coded in C and C++.
Key-Words / Index Term :
Operation Management, Inventory Cost, Deteriorating, Cycle time, Break time, Ordering cost, and Holding cost
References :
[1] Bouras, A., “Optimal control for advertised production planning in a three-level stock system with deteriorating items: Case of a continuous-review policy,” Arabian Journal for Science & Engineering, (Springer Science & Business Media BV), Vol.40, Issue.9, 2015.
[2] Ghosh, S.K., Sarkar, T and Chaudhuri, K.S., “An optimal inventory replenishment policy for a deteriorating item with time-quadratic demand and time dependent partial backlogging with shortages in all cycles”, Applied Mathematics and Computation, Vol.218, pp. 9147-9155, 2012.
[3] Julia Pahl, “ Integrating deterioration and lifetime constraints in production and supply chain planning: A survey,” European Journal of Operational Research, 238, 654–674, 2014.
[4] Shah, N.H. and Shah, A.D., “Optimal cycle time and preservation technology investment for deteriorating items with price-sensitive stock-dependent demand under inflation,” Journal of Physics: Conference series, Vol.495, Issue.1, 2014.
[5] Sing , S. Dube , R and Singh, S.R., “Production model with selling price dependent demand and partially backlogging under inflation,” International journal of Mathematical Modelling & Computations , Vol.1, Issue.1, pp.01-07, 2011.
[6] Yadav, D., Singh, S.R., Gupta, M. and Singh, D., “ Manufacturing inventory model for deteriorating items with maximum lifetime under two-level trade credit financing,” International Journal of Computer Applications, Vol.121, Issue.15, 2015.
[7] Yong, H., Wang, S., and Lai, K.K., “An optimal production-inventory model for deteriorating items with multiple-market demand,” European Journal of Operational Research, Vol.203, pp.593–600, 2010.
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