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A Time Dependent Order Level Inventory Model for Beta Deterioration in Two Warehouse Systems

A Time Dependent Order Level Inventory Model for Beta Deterioration in Two Warehouse Systems
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Author(s): Soumendra Kumar Patra (Regional College of Management (Autonomous), India), Tapan Kumar Lenka (Rajdhani College of Engineering and Management, India) and Er. Purna Chandra Ratha (Utkal University, India)
Copyright: 2018
Pages: 18
Source title: Operations and Service Management: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-3909-4.ch025

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Abstract

An inventory problem for a deteriorating item having two separate warehouses is developed under time value of money, whereby one is an own warehouse (OW) of finite dimension(s) and the other is rented warehouse (RW) of infinite dimension(s). Deterioration rate of items in the two warehouses may be different, which is time dependent and deterioration is in the mean beta distribution form. In this study, shortages and complete backlogging have been considered as the other items, whereby the demand rate of items is linear with time in OW and the same is linear with price in case of RW. Also, the stocks of RW transported to OW in continuous release pattern.

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