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A production inventory model with constant production rate, linear level dependent demand and linear holding cost

Link to publisher's homepage at https://amci.unimap.edu.my/

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Main Authors: Alhamdu Atama, Madaki, Babangida Sani
Other Authors: madakiamatamaalhamdu@gmail.com
Format: Article
Language:English
Published: Institute of Engineering Mathematics, Universiti Malaysia Perlis 2023
Subjects:
Boundary and Initial Conditions
Linear Level Dependent Demand
Linear Holding Cost
Optimal Solution
Production Inventory
Online Access:http://dspace.unimap.edu.my:80/xmlui/handle/123456789/77659
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spelling my.unimap-776592023-01-12T03:50:41Z A production inventory model with constant production rate, linear level dependent demand and linear holding cost Alhamdu Atama, Madaki Babangida Sani Alhamdu Atama, Madaki madakiamatamaalhamdu@gmail.com Department of Mathematics/Statistics, Isa Mustapha Agwai I Polytechnic, Nigeria Department of Mathematics, Ahmadu Bello University, Nigeria Boundary and Initial Conditions Linear Level Dependent Demand Linear Holding Cost Optimal Solution Production Inventory Link to publisher's homepage at https://amci.unimap.edu.my/ In this paper, a production inventory model is proposed which considers products with limited life and a little amount of decay. In real life problem, there are many scenarios that happened in production inventory which were not taken into consideration by Shirajul Islam and Sharifuddin [19], who formulated a production inventory model and considered both the holding cost and the production rate to be constant. They assumed that the demand is a linear level dependent. Their paper has been modified and extended by considering the holding cost to be linearly dependent on time and the demand rate during production is assumed to be smaller than the demand rate after production. The proposed production inventory model is formulated using systems of differential equations including initial and boundary conditions and typical integral calculus were also used to analyze the inventory problems. These differential equations were solved to give the best cycle length of the model to minimize the inventory cost. A mathematical theorem and proof are presented to establish the convexity of the cost function. From the numerical examples giving to illustrate the application of the model, a Newton-Raphson method has been used to determine the optimal length of ordering cycle to be 0.54814, optimal cycle time=2.3014 (840days), optimal quantity=32.9675 and total optimal average inventory cost per unit time=18.253 and accompanied by sensitivity analysis to see the effects of the parameter changes. 2023-01-12T03:50:41Z 2023-01-12T03:50:41Z 2022-12 Article Applied Mathematics and Computational Intelligence (AMCI), vol.11(1), 2022, pages 146-163 2289-1315 (print) 2289-1323 (online) http://dspace.unimap.edu.my:80/xmlui/handle/123456789/77659 https://amci.unimap.edu.my/ en Institute of Engineering Mathematics, Universiti Malaysia Perlis
institution Universiti Malaysia Perlis
building UniMAP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Perlis
content_source UniMAP Library Digital Repository
url_provider http://dspace.unimap.edu.my/
language English
topic Boundary and Initial Conditions
Linear Level Dependent Demand
Linear Holding Cost
Optimal Solution
Production Inventory
spellingShingle Boundary and Initial Conditions
Linear Level Dependent Demand
Linear Holding Cost
Optimal Solution
Production Inventory
Alhamdu Atama, Madaki
Babangida Sani
Alhamdu Atama, Madaki
A production inventory model with constant production rate, linear level dependent demand and linear holding cost
description Link to publisher's homepage at https://amci.unimap.edu.my/
author2 madakiamatamaalhamdu@gmail.com
author_facet madakiamatamaalhamdu@gmail.com
Alhamdu Atama, Madaki
Babangida Sani
Alhamdu Atama, Madaki
format Article
author Alhamdu Atama, Madaki
Babangida Sani
Alhamdu Atama, Madaki
author_sort Alhamdu Atama, Madaki
title A production inventory model with constant production rate, linear level dependent demand and linear holding cost
title_short A production inventory model with constant production rate, linear level dependent demand and linear holding cost
title_full A production inventory model with constant production rate, linear level dependent demand and linear holding cost
title_fullStr A production inventory model with constant production rate, linear level dependent demand and linear holding cost
title_full_unstemmed A production inventory model with constant production rate, linear level dependent demand and linear holding cost
title_sort production inventory model with constant production rate, linear level dependent demand and linear holding cost
publisher Institute of Engineering Mathematics, Universiti Malaysia Perlis
publishDate 2023
url http://dspace.unimap.edu.my:80/xmlui/handle/123456789/77659
_version_ 1772813081736380416
score 13.160551

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