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Vol 7, No 1 :

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An Inventory Model for Weibull Deteriorating Items with Preservation Technology Investment
Chaitanya kumar Rapolu , Deepa Kandpal
Abstract

In this paper, we formulated an inventory model for items, having Weibull distribution deterioration by allowing preservation technology investment. We assume constant demand, shortages, and partial backlogs. Both instantaneous and non-instantaneous cases are considered separately. In the instantaneous deterioration case, items start deteriorating as soon as they enter into the inventory system, while in a non-instantaneous deterioration case, the deterioration starts after some time duration. The main objective of this study is to obtain the optimal preservation technology investment, and optimal ordering policies simultaneously, to the retailer to maximize the total profit. Numerical examples and sensitivity analysis prove the validity of our proposed model. The concavity of the total profit function is shown graphically.
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ISSN(O) 2456-2378

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