Production policy for ameliorating/deteriorating items with ramp type demand Online publication date: Thu, 30-Jan-2014
by S.K. Goyal; S.R. Singh; Himani Dem
International Journal of Procurement Management (IJPM), Vol. 6, No. 4, 2013
Abstract: The present work emphasises on livestock production systems having demand varying according to season. Almost all the inventory models have been developed based on such products assuming that all units ameliorate till the stock lasts. However, we have considered a more practical approach considering the gap between the time up to which the entire produced lot ameliorates and the time up to which stock depletes fully. Seasonal variations are commonly observed in livestock consumption across geographies. Therefore, demand varying production is the key to control the yield to avoid the loss due to overstocking. The purpose of this study is to determine the optimal production running, amelioration and shortage time so as to minimise the total relevant cost of the system. A genetic algorithm (GA) has been scripted to solve the mathematically developed economic production quantity (EPQ) model. Numerical examples and some sensitivity analyses are presented to illustrate the model.
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