Inventory Modeling for Deteriorating Items with Stock Dependent Demand, Shortages and Inflation Under Two-Warehouse Storage Management System in a Fuzzy Environment
Keywords:
Two warehouses, Instantaneous deterioration, Linear demand, Constant holding cost, Advertisementcost and shortagesAbstract
This article aims to evaluate the value of integrating warehouse and inventory decisions. So, in this paper, a two-warehouse inventory model for deteriorating items is considered under the assumption that the inventory cost (including holding cost and deterioration cost) inRented Warehouse(RW) is higher than that inOwned Warehouse(OW) due to better preservation facilities in RW. The demand is taken as a variable dependent on the stock level. Shortages are allowed in the OW partially backlogged at the next replenishment cycle. This paper mainly deals with deteriorating items where the deterioration rate is linearly dependent on time, and the concept of triangular fuzzy numbers is used for this purpose. A numerical example is presented to illustrate and validate the model.
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