AN IMPERFECT PRODUCTION AND TRADE CREDIT INVENTORY MODEL WITH TIME VARYING DEMAND, REPAIR AND PRODUCTION RATES UNDER INFLATIONARY CONDITIONS
Journal: International Journal of Management (IJM) (Vol.11, No. 9)Publication Date: 2020-09-30
Authors : Kamal Kumar Promila;
Page : 1032-1044
Keywords : Imperfect production; time dependent demand; production and repair rate; collection rate; inflation; permissible delay.;
Abstract
This paper formulated the impact of an inventory model for imperfect manufacturing process. Demand rate and repair rate are exponentially function of time. Production rate and collection rate are depending on demand. Due to the demand, they are also function of time. Model is developed to minimize the total inventory cost by considering only one type of raw material and by using permissible delay in payments under inflationary environment. Numerical example are used to find the analytical result. Sensitivity analysis is used to fulfill the effect of distinct parameter on the optimal policy.
Other Latest Articles
- Aloe Induced Toxicity: Phytochemistry and Pharmacodynamics, Toxicokinetics and Case Study
- Genotoxicity of Drugs: Mechanisms, Testing Guidelines and Methods for Evaluation
- A STUDY OF THE SOLID WASTE MANAGEMENT ON URBAN PEOPLE OF CHIRING CHAPORI IN THE DIBRUGARH DISTRICT OF ASSAM
- Formulation, Evaluation and Optimization of Nebivolol Hydrochloride Mouth Dissolving Film
- The Role of Microneedle in the Transdermal Delivery of Insulin in Future Aspects
Last modified: 2021-01-30 18:40:57