UGC Approved Journal no 63975(19)

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Volume 11 | Issue 10 | October 2024

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Volume 10 Issue 11
November-2023
eISSN: 2349-5162

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Published Paper ID:
JETIR2311408


Registration ID:
528077

Page Number

e49-e62

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Title

ON OPTIMAL OPERATING POLICIES OF EPQ MODEL FOR DETERIORATING ITEMS WITH TIME DEPENDENT PRODUCTION DEMAND AND DETERIORATION

Abstract

Economic Production Quantity models provide the basic framework for scheduling production systems. In this paper, we develop and analyze an EPQ model with the assumption that the rate of replenishment is time dependent. It is also further assumed that demand is linearly dependent on time. Using difference-differential equations the instantaneous state of inventory is derived. With suitable cost considerations, the total cost function and Profit rate function is obtained. By maximizing the total cost function, the optimal operating policies are derived. Through numerical illustration, the solution procedure of the model is demonstrated. The sensitivity analysis of the model revealed that the replenishment parameters and deterioration parameters have a significant

Key Words

EPQ Model, Time Dependent Demand, Time-Dependent Replenishment, Time-Dependent Deterioration.

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"ON OPTIMAL OPERATING POLICIES OF EPQ MODEL FOR DETERIORATING ITEMS WITH TIME DEPENDENT PRODUCTION DEMAND AND DETERIORATION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 11, page no.e49-e62, November-2023, Available :http://www.jetir.org/papers/JETIR2311408.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"ON OPTIMAL OPERATING POLICIES OF EPQ MODEL FOR DETERIORATING ITEMS WITH TIME DEPENDENT PRODUCTION DEMAND AND DETERIORATION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 11, page no. ppe49-e62, November-2023, Available at : http://www.jetir.org/papers/JETIR2311408.pdf

Publication Details

Published Paper ID: JETIR2311408
Registration ID: 528077
Published In: Volume 10 | Issue 11 | Year November-2023
DOI (Digital Object Identifier):
Page No: e49-e62
Country: VISAKHAPATNAM, Andhra Pradesh, India .
Area: Mathematics
ISSN Number: 2349-5162
Publisher: IJ Publication


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