Two Warehouses EOQ Inventory Model of Degrading Matter Having Exponential Decreasing Order, Limited Suspension in Price
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ORIGINAL RESEARCH
Two Warehouses EOQ Inventory Model of Degrading Matter Having Exponential Decreasing Order, Limited Suspension in Price Including Salvage Value Chandan Kumar Sahoo1 · Kailash Chandra Paul2 · Surendra Kumar3 Received: 3 August 2020 / Accepted: 24 September 2020 © Springer Nature Singapore Pte Ltd 2020
Abstract This paper emphasizes upon inventory model possessing two warehouses. The same includes matters which hold degrading aspect, and the very model has been developed with exponentially diminishing order rate with limited suspension price including salvages. The particular model beholds one rented warehouse where another one is inherent. The degrading rate feature of inherent warehouse exhibits linear function of period and the degradation of rented house delivers a persistent function. Salvage value is calculated on own warehouse. The objective of this study is to find total appropriate inventory cost and which should be reduced. The usefulness of the aforesaid model as well as the sensitivity investigation of the finest resolution corresponding to a mixture of features has been observed considering a mathematical illustration into account. Keywords Two warehouse · Shortages · Variable deteriorating rate · Exponential decreasing order rate · Salvage value
Introduction Deteriorating significance implies weakening or worsening of the object utility for any other application. Matters concern to the domain of electronic, nuclear, photoelectric, etc. weakens concern to potentiality and service with regard to time. Therefore degradation or declining of matters in an inventory is purely one natural attribute and hence inventory analysts experience the reality of this essence. Basically, This article is part of the topical collection “Computational Statistics” guest edited by Anish Gupta, Mike Hinchey, Vincenzo Puri, Zeev Zalevsky and Wan Abdul Rahim. * Chandan Kumar Sahoo [email protected] Kailash Chandra Paul [email protected] Surendra Kumar [email protected] 1
Department of Mathematics, GIET, Bhubaneswar, Odisha, India
2
Department of Mathematics, IGIT Sarang, Dhenkanal, Odisha, India
3
Department of Statistics, Kirori Mal College, University of Delhi, New Delhi, India
individual institution possesses their own warehouse (OW) having restricted volume. If the quantity exceeds the capacity of OW then these quantities should be transformed to another, rented warehouse (RW). The customers are served first from RW, then from OW. The very two warehouse inventory model has at first been represented by Hartly [7]. Sarma [14] has successfully interpreted the inventory model possessing two levels of loading and the ideal discharge law. An inventory model with two levels of storage also has been propounded by Dave [4], including discrete phase manufacturing structures. Lot of flourishing information derived by Zhou et al. [18] a two warehouse EOQ model for deteriorating items with with stock-level-dependent demand rate. Zhou [17] attempted two warehouse inventory model and time dep
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