For the importance of deteriorating in units, this paper presents a Constraint Deteriorating Probabilistic Periodic Review Inventory Model (CDPPRIM), a model which is applicable under some assumptions: (1) the demand is a random variable that follows Pareto distribution without lead time, (2) some costs are varying and shortage is permitted, (3) the deterioration rate follows Gumbel distribution, and (4) there is a constraint on varying deteriorating cost. Here, the objective function under a constraint is imposed in crisp and fuzzy environment. A Newton’s method is used to solve the system of nonlinear equations. The objective is to find the optimal values of four decision variables (maximum inventory level, stock-out time, the deteriorating time, and review time), which minimize the expected annual total cost under the assumptions. Finally, the model is followed by an application.
Hollah, O., & Fergany, H. (2019). Periodic review inventory model for Gumbel deteriorating items when demand follows Pareto distribution. Journal of the Egyptian Mathematical Society, 27(1), 1-13. doi: 10.1186/s42787-019-0007-z7
MLA
O. M. Hollah; H. A. Fergany. "Periodic review inventory model for Gumbel deteriorating items when demand follows Pareto distribution", Journal of the Egyptian Mathematical Society, 27, 1, 2019, 1-13. doi: 10.1186/s42787-019-0007-z7
HARVARD
Hollah, O., Fergany, H. (2019). 'Periodic review inventory model for Gumbel deteriorating items when demand follows Pareto distribution', Journal of the Egyptian Mathematical Society, 27(1), pp. 1-13. doi: 10.1186/s42787-019-0007-z7
VANCOUVER
Hollah, O., Fergany, H. Periodic review inventory model for Gumbel deteriorating items when demand follows Pareto distribution. Journal of the Egyptian Mathematical Society, 2019; 27(1): 1-13. doi: 10.1186/s42787-019-0007-z7
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