Optimal inventory policies for imperfect inventory with price dependent stochastic demand and partially backlogged shortages

The paper investigates a single period imperfect inventory model with price dependent stochastic demand and partial backlogging. The backorder rate is a nonlinear non-increasing function of the magnitude of shortage. Two special cases are considered assuming that the percentage of defective items follows a truncated exponential distribution and a normal distribution respectively. The optimal order quantity and the optimal mark up value are determined such that the expected total profit of the system is maximized. Numerical example is given to illustrate the proposed model which is compared with the traditional model of perfect stock. Sensitivity analysis is performed to explain the behavior of the proposed model with respect to the key parameters

A Deterministic Inventory System with Weibull Distribution Deterioration and Ramp Type Demand Rate

A continuous order-level inventory model is developed for deteriorating items with a ramp type demand function of time. A two parameter Weibull distribution is taken to represent the time to  deterioration. The model is solved analytically by enumerating two possible shortage models to obtain the optimal solution of the problem. The method is illustrated by two numerical examples and sensitivity analysis of the optimal solutions with respect to the parameters of the system are carried out

A Continuous Deterministic Inventory System for Deteriorating Items with Inventory-Level-Dependent Time Varying Demand Rate

[[abstract]]A continuous deterministic inventory model for deteriorating items is developed under instantaneous replenishment and stock-dependent time - varying demand rate. A numerical example is taken to determine the optimal average cost. A sensitivity analysis is carried out to demonstrate the effects of changing parameter values on the optimal solution of the system