Some EOQ Model for Weibull Deterioration Items with Selling Price Dependent Demand
A. Lakshmana Rao1, B. Neela Rao2, R. Santhi Kumar3
1Dr. A. Lakshmana Rao, Department of Basic Sciences & Humanities, Aditya Institute of Technology and Management, Tekkali, Andhra Pradesh India.
2B. Neela Rao, Department of Basic Sciences & Humanities, Aditya Institute of Technology and Management, Tekkali, Andhra Pradesh India.
3Dr. R. Santhi Kumar, Department of Basic Sciences & Humanities, Aditya Institute of Technology and Management, Tekkali, Andhra Pradesh India.
Manuscript received on March 02, 2014. | Revised Manuscript received on March 03, 2014. | Manuscript published on March 05, 2014. | PP: 51-56 | Volume-4 Issue-1, March 2014. | Retrieval Number: A2092034114/2014©BEIESP
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In this paper we develop and analyze an inventory model assumption that deterioration rate follows Weibull two parameter distributions with selling price dependent demand. Here it is assumed that demand rate is a function of selling price. With shortage and without shortage both cases have been taken care of in developing the inventory models. Shortages are fully backlogged whenever they are allowed. Through numerical examples the results are illustrated. The sensitivity analysis for the model has been performed to study the effect changes of the values of the parameters associated with the model.
Keywords: EOQ model; deteriorating items; shortage; selling price dependent demand; Weibull distribution.