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

Section

Section A: Physical and Mathematical Sciences