An EPQ Inventory Model For Deteriorating Items With Weibull Deterioration Under Stock Dependent Demand
N. K. Kaliraman, R. Raj, S. Chandra, H. Chaudhry
Keywords: Deteriorating Items, EPQ Model, Stock Dependent Demand, Weibull Deterioration
Abstract: This paper develops an economic production quantity inventory model for deteriorating items; the rate of deterioration is Weibull distribution deterioration with two parameters. The rate of demand is stock dependent. Shortages are not allowed. The aim of this study is to find the optimal solution for minimizing the total inventory costs. To optimize the model a numerical illustration has been carried out and a sensitivity analysis occurred to study the result of parameters on assessment variables and the entire cost of this model.
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