An economic production lot size model with deteriorating items, stock-dependent demand, inflation, and partial backlogging

摘要

In this paper, we present an optimization framework to derive optimal production over a fixed planning horizon for items with a stock-dependent demand rate and under inflationary conditions. We consider a perishable item that follows a two-parameter Weibull distribution. Shortage is allowed and partially backlogged at a fixed rate. A numerical example is taken up to illustrate the solution procedure and sensitivity analysis of the optimal solution with respect to the parameters of the system is carried out. (c) 2006 Elsevier Inc. All rights reserved.