{"title":"Estimation of inventory for deteriorating items with non-linear demand considering discount and without discount policy","authors":"M. Mondol, M. F. Uddin, M. S. Hossain","doi":"10.3329/JNAME.V13I2.23905","DOIUrl":null,"url":null,"abstract":"This paper develops an inventory model for deteriorating items consisting the ordering cost, unit cost, opportunity cost, deterioration cost and shortage co s t. In this inventory model instead of linear demand function nonlinear exponential function of time for deteriorating items with deterioration rate has been considered. The effects of inflation and cash flow are also taken into account under a trade-credit policy of discount and without discount with time. In order to validate the model, numerical examples have been solved by bisection method deploying Matlab. Further, in order to estimate the cash flow the sensitivity of different parameters is considered.","PeriodicalId":55961,"journal":{"name":"Journal of Naval Architecture and Marine Engineering","volume":"13 1","pages":"151-164"},"PeriodicalIF":1.2000,"publicationDate":"2016-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3329/JNAME.V13I2.23905","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Naval Architecture and Marine Engineering","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3329/JNAME.V13I2.23905","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ENGINEERING, MARINE","Score":null,"Total":0}
引用次数: 1
Abstract
This paper develops an inventory model for deteriorating items consisting the ordering cost, unit cost, opportunity cost, deterioration cost and shortage co s t. In this inventory model instead of linear demand function nonlinear exponential function of time for deteriorating items with deterioration rate has been considered. The effects of inflation and cash flow are also taken into account under a trade-credit policy of discount and without discount with time. In order to validate the model, numerical examples have been solved by bisection method deploying Matlab. Further, in order to estimate the cash flow the sensitivity of different parameters is considered.
期刊介绍:
TJPRC: Journal of Naval Architecture and Marine Engineering (JNAME) is a peer reviewed journal and it provides a forum for engineers and scientists from a wide range of disciplines to present and discuss various phenomena in the utilization and preservation of ocean environment. Without being limited by the traditional categorization, it is encouraged to present advanced technology development and scientific research, as long as they are aimed for more and better human engagement with ocean environment. Topics include, but not limited to: marine hydrodynamics; structural mechanics; marine propulsion system; design methodology & practice; production technology; system dynamics & control; marine equipment technology; materials science; under-water acoustics; satellite observations; and information technology related to ship and marine systems; ocean energy systems; marine environmental engineering; maritime safety engineering; polar & arctic engineering; coastal & port engineering; aqua-cultural engineering; sub-sea engineering; and specialized water-craft engineering. International Journal of Naval Architecture and Ocean Engineering is published quarterly by the Society of Naval Architects of Korea. In addition to original, full-length, refereed papers, review articles by leading authorities and articulated technical discussions of highly technical interest are also published.