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Home  >  Volume 59

26. A PRODUCTION INVENTORY MODEL WITH CONSTANT PRODUCTION RATE, LINEAR LEVEL DEPENDENT DEMAND AND CONSTANT HOLDING COST by A. Atama Madaki1and B.Sani Volume 59 (January – March 2021 Issue)
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A PRODUCTION INVENTORY MODEL WITH CONSTANT PRODUCTION RATE, LINEAR LEVEL DEPENDENT DEMAND AND CONSTANT HOLDING COST


A. Atama Madaki1and B.Sani2


1Department of Mathematics/Statistics, Isa Mustapha Agwai 1 Polytechnic Lafia

2Department of Mathematics, Ahmadu Bello University, Zaria


Abstract

In this paper, a production inventory model with a constant holding cost is considered. The demand is level dependent linear with time. The model determines the total average optimal inventory cost and optimal time cycle. The production starts with a buffer stock reaching the desired level inventory and begins to deplete due to demand and deterioration. The cost function has been shown to be convex and a numerical example is given to show the application of the model. A sensitivity analysis is then carried out on the example to see the effect of parameter change.


Keywords: Production Inventory, economic order quantity, Deteriorating items, Depreciation

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