An overtime production inventory model for deteriorating items with nonlinear price and stock dependent demand

The goal of this work is to discuss a production inventory model for deteriorating items with nonlinear price and linear stock dependent market demand along with an overtime production opportunity. The corresponding optimization problem is articulated mathematically and hence solved by using lingo s...

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Bibliographic Details
Published in:Alexandria engineering journal 2021-06, Vol.60 (3), p.2779-2786
Main Authors: Abdul Halim, Mohammad, Paul, A., Mahmoud, Mona, Alshahrani, B., Alazzawi, Atheelah Y.M., Ismail, Gamal M.
Format: Article
Language:English
Subjects:
And linear stock dependent market demand
Deterioration
Nonlinear price
Overtime production
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Summary:The goal of this work is to discuss a production inventory model for deteriorating items with nonlinear price and linear stock dependent market demand along with an overtime production opportunity. The corresponding optimization problem is articulated mathematically and hence solved by using lingo software. To examine the proposed nonlinear optimization problem’s significance, one numerical example is deliberated. A sensitivity analysis is accomplished on the basis of the systematic changes of the system parameters. As a final point, based on the accomplished analysis an effectual conclusion is reflected.
ISSN:1110-0168
DOI:10.1016/j.aej.2021.01.019