Inventory models with integrated time-dependent demands for deteriorative items are considered in this study. The demand models found in the literature include constant, linear, quadratic, exponential, price dependent, and stock dependent among others. To wit, no study exists that uses integrated time-dependent demands. Three models are developed: The first model uses continuously compounded demands, the second model uses linear demands integrated with continuously compounded demands, and the third model uses quadratic demands integrated with continuously compounded demands. Mathematical models are delineated for each model and relevant examples are provided to elucidate the proposed procedure. The objective herein is to obtain optimum order quantities and order intervals concerning the overall cost. Sensitivity analysis is provided for each of the three models. The necessary data was generated using Visual Basic 6.0.
Keywords: Integrated demands, linear with exponential, quadratic with exponential, optimality, sensitivity analysis, higher order equations
@article{RO_2021__55_5_2883_0,
author = {Sivashankari, C. K. and Ramachandran, Lalitha},
title = {Inventory models with integrated time dependent demands for deteriorating items {\textendash} in third and fourth order equations},
journal = {RAIRO. Operations Research},
pages = {2883--2905},
year = {2021},
publisher = {EDP-Sciences},
volume = {55},
number = {5},
doi = {10.1051/ro/2021099},
mrnumber = {4318746},
zbl = {1475.90009},
language = {en},
url = {https://www.numdam.org/articles/10.1051/ro/2021099/}
}
TY - JOUR AU - Sivashankari, C. K. AU - Ramachandran, Lalitha TI - Inventory models with integrated time dependent demands for deteriorating items – in third and fourth order equations JO - RAIRO. Operations Research PY - 2021 SP - 2883 EP - 2905 VL - 55 IS - 5 PB - EDP-Sciences UR - https://www.numdam.org/articles/10.1051/ro/2021099/ DO - 10.1051/ro/2021099 LA - en ID - RO_2021__55_5_2883_0 ER -
%0 Journal Article %A Sivashankari, C. K. %A Ramachandran, Lalitha %T Inventory models with integrated time dependent demands for deteriorating items – in third and fourth order equations %J RAIRO. Operations Research %D 2021 %P 2883-2905 %V 55 %N 5 %I EDP-Sciences %U https://www.numdam.org/articles/10.1051/ro/2021099/ %R 10.1051/ro/2021099 %G en %F RO_2021__55_5_2883_0
Sivashankari, C. K.; Ramachandran, Lalitha. Inventory models with integrated time dependent demands for deteriorating items – in third and fourth order equations. RAIRO. Operations Research, Tome 55 (2021) no. 5, pp. 2883-2905. doi: 10.1051/ro/2021099
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