An inventory model for Weibull deteriorating items with salvage value

An inventory model for Weibull deteriorating items with salvage value

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Article ID: iaor201526733
Volume: 22
Issue: 1
Start Page Number: 67
End Page Number: 76
Publication Date: Jul 2015
Journal: International Journal of Logistics Systems and Management
Authors: ,
Keywords: simulation, statistics: distributions
Abstract:

In this paper, we consider an inventory model for deteriorating items with salvage value. We have considered time dependent Weibull deterioration in developing this model. Three parameter Weibull distributions have been used for this purpose. A numerical example is provided here for illustration. The sensitivity analysis has also been carried out to study the effect of changes in parameters using the numerical example.

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