A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function
This paper develops an overtime production model for demand rate to be a function of price and stock-level. Companies manufacturing rate fluctuates with the change in stock-level and demand rate. To control the deterioration up to some extent, the system introduces preservation technology investmen...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Regional Association for Security and crisis management, Belgrade, Serbia
2022-03-01
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| Series: | Operational Research in Engineering Sciences: Theory and Applications |
| Subjects: | |
| Online Access: | https://oresta.rabek.org/index.php/oresta/article/view/194 |
| _version_ | 1818442346392453120 |
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| author | Nita H. Shah Kavita Rabari Ekta Patel |
| author_facet | Nita H. Shah Kavita Rabari Ekta Patel |
| author_sort | Nita H. Shah |
| collection | DOAJ |
| description |
This paper develops an overtime production model for demand rate to be a function of price and stock-level. Companies manufacturing rate fluctuates with the change in stock-level and demand rate. To control the deterioration up to some extent, the system introduces preservation technology investment. The article permits a two-level credit policy for flexible financing. The model calculates feasible profit value under preservation technology investment, production period and selling price. Conclusively, a sensitivity analysis related to different inventory parameters is performed to study the dependency of optimal values on parameters.
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| first_indexed | 2024-12-14T18:42:41Z |
| format | Article |
| id | doaj.art-c739f1539786450381d7da4c9697e820 |
| institution | Directory Open Access Journal |
| issn | 2620-1607 2620-1747 |
| language | English |
| last_indexed | 2024-12-14T18:42:41Z |
| publishDate | 2022-03-01 |
| publisher | Regional Association for Security and crisis management, Belgrade, Serbia |
| record_format | Article |
| series | Operational Research in Engineering Sciences: Theory and Applications |
| spelling | doaj.art-c739f1539786450381d7da4c9697e8202022-12-21T22:51:28ZengRegional Association for Security and crisis management, Belgrade, SerbiaOperational Research in Engineering Sciences: Theory and Applications2620-16072620-17472022-03-0110.31181/oresta210322106sA Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand FunctionNita H. Shah0Kavita Rabari1Ekta Patel2Department of Mathematics, Gujarat University, Ahmedabad-380009, Gujarat, IndiaDepartment of Mathematics, Gujarat University, Ahmedabad-380009, Gujarat, IndiaDepartment of Mathematics, Gujarat University, Ahmedabad-380009, Gujarat, India This paper develops an overtime production model for demand rate to be a function of price and stock-level. Companies manufacturing rate fluctuates with the change in stock-level and demand rate. To control the deterioration up to some extent, the system introduces preservation technology investment. The article permits a two-level credit policy for flexible financing. The model calculates feasible profit value under preservation technology investment, production period and selling price. Conclusively, a sensitivity analysis related to different inventory parameters is performed to study the dependency of optimal values on parameters. https://oresta.rabek.org/index.php/oresta/article/view/194Overtime production, Production period, Conservation investment time, Deterioration, Stock- and vending worth dependent time, Sensitivity |
| spellingShingle | Nita H. Shah Kavita Rabari Ekta Patel A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function Operational Research in Engineering Sciences: Theory and Applications Overtime production, Production period, Conservation investment time, Deterioration, Stock- and vending worth dependent time, Sensitivity |
| title | A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function |
| title_full | A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function |
| title_fullStr | A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function |
| title_full_unstemmed | A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function |
| title_short | A Deteriorating Inventory Model under Overtime Production and Credit Policy for Stock- and Price Sensitive Demand Function |
| title_sort | deteriorating inventory model under overtime production and credit policy for stock and price sensitive demand function |
| topic | Overtime production, Production period, Conservation investment time, Deterioration, Stock- and vending worth dependent time, Sensitivity |
| url | https://oresta.rabek.org/index.php/oresta/article/view/194 |
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