An EOQ Model for Varying Items with Weibull Distribution Deterioration and Price-dependent Demand

Authors

  • R. Begum Department of Mathematics, Padmanava College of Engineering, Rourkela, Orissa-769002
  • R. R. Sahoo Department of Physics, Synergy Institute of Technology, Bhubaneswar, Orissa-752101
  • S. K. Sahu National Institute of Financial Management, Faridabad, Hariyana-121001
  • M. Mishra Government Junior Science College, Malkanagiri, Orissa, 768048

DOI:

https://doi.org/10.3329/jsr.v2i1.2764

Keywords:

Price-dependent, Weibull distribution, Varying rate of deterioration

Abstract

In this paper, we have developed an instantaneous replenishment policy for deteriorating items with price-dependent demand. The demand and deterioration rates are continuous and differentiable function of price and time respectively. A variable proportion of the items will deteriorate per time, where shortages are permissible and completely backordered. We have developed a policy with price-dependent demand under profit maximization. The net profit per unit time is a concave function. Further, it is illustrated with the help of a numerical example.

 

Keywords: Price-dependent; Weibull distribution; Varying rate of deterioration.

 

© 2010 JSR Publications. ISSN: 2070-0237 (Print); 2070-0245 (Online). All rights reserved.

 

DOI: 10.3329/jsr.v2i1.2764                 J. Sci. Res. 2 (1), 24-36 (2010)

 

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Author Biographies

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

Department of Mathematics, Lecturer

 

R. R. Sahoo, Department of Physics, Synergy Institute of Technology, Bhubaneswar, Orissa-752101

Department of Physics, Senior Lecturer

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

National Institute of Financial Management, Reader

M. Mishra, Government Junior Science College, Malkanagiri, Orissa, 768048

Government Junior Science College, Principal

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Published

2009-12-25

How to Cite

Begum, R., Sahoo, R. R., Sahu, S. K., & Mishra, M. (2009). An EOQ Model for Varying Items with Weibull Distribution Deterioration and Price-dependent Demand. Journal of Scientific Research, 2(1), 24–36. https://doi.org/10.3329/jsr.v2i1.2764

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Section

Section A: Physical and Mathematical Sciences