Inventory model of deteriorated items with a constraint: A geometric programming approach

Inventory model of deteriorated items with a constraint: A geometric programming approach

0.00 Avg rating0 Votes
Article ID: iaor20083578
Country: Netherlands
Volume: 173
Issue: 1
Start Page Number: 199
End Page Number: 210
Publication Date: Aug 2006
Journal: European Journal of Operational Research
Authors: , ,
Keywords: programming: geometric
Abstract:

An inventory model for deteriorating items is built-up with limited storage space. Here, demand rate for the items is finite, items deteriorate at constant rates and are replenished instantaneously. Following economic order quantity model, the problem is formulated with and without truncation on the deterioration term and ultimately is converted to the minimization of a signomial expression with a posynomial constraint. It is solved by modified geometric programming (MGP) method and non-linear programming (NLP) method. The problem is supported by numerical examples. The results from two versions of the model (with and without truncation) and two methods (i.e. MGP and NLP) are compared.

Reviews

Required fields are marked *. Your email address will not be published.