An Inventory Model with Exponential Demand Rate, Finite Production Rate and Shortages

Authors

  • R. Begum Department of Mathematics, Padmanava College of Engineering, Rourkela, Orissa-769002
  • S. K. Sahu National Institute of Financial Management, Faridabad, Haryana- 121001
  • R. R. Sahoo Department of Physics, Synergy Institute of Technology, Bhubaneswar, Orissa-754001

DOI:

https://doi.org/10.3329/jsr.v1i3.2054

Keywords:

Inventory, EOQ, finite production, shortages, exponential demand

Abstract

The paper contains an order-level inventory model having the demand rate to be a function of time. Here shortages are allowed and completely backlogged. An optimal model is developed by considering exponential demand which minimizes the total average cost. Numerical examples are used to illustrate the developed model. Sensitivity analysis of the optimal solution with respect to major parameters is carried out.

 

Keywords: Inventory; EOQ; Finite production; Shortages; Exponential demand.

 

© 2009 JSR Publications. ISSN: 2070-0237 (Print); 2070-0245 (Online). All rights reserved.

 

 DOI: 10.3329/jsr.v1i3.2054              J. Sci. Res. 1 (3), 473-483 (2009)

 

 

 

 

 

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Author Biographies

R. Begum, Department of Mathematics, Padmanava College of Engineering, Rourkela, Orissa-769002

Department of Mathematics, Lecturer

S. K. Sahu, National Institute of Financial Management, Faridabad, Haryana- 121001

National Institute of Financial Management, Reader

 

 

R. R. Sahoo, Department of Physics, Synergy Institute of Technology, Bhubaneswar, Orissa-754001

Department of Physics, Sr. Lecturer

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Published

2009-08-29

How to Cite

Begum, R., Sahu, S. K., & Sahoo, R. R. (2009). An Inventory Model with Exponential Demand Rate, Finite Production Rate and Shortages. Journal of Scientific Research, 1(3), 473–483. https://doi.org/10.3329/jsr.v1i3.2054

Issue

Vol. 1 No. 3 (2009)

Section

Section A: Physical and Mathematical Sciences

License

© Journal of Scientific Research

Creative Commons License

Articles published in the "Journal of Scientific Research" are Open Access articles under a Creative Commons Attribution-ShareAlike 4.0 International license (CC BY-SA 4.0). This license permits use, distribution and reproduction in any medium, provided the original work is properly cited and initial publication in this journal. In addition to that, users must provide a link to the license, indicate if changes are made and distribute using the same license as original if the original content has been remixed, transformed or built upon.