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Research Article
Overview of Advancement of Inventory Models for Deteriorating Items with Time Based Uniform Price
Dr. Animesh Kumar Sharma1
Dr. S. S. Dubey2
Ashok Kumar Adil3
12Department of Mathematics, The ICFAI University Raipur, India. 3Department of Mathematics, Govt. Nagarjuna PG Science College Raipur, India.
Published Online: January-February 2023
Pages: 14-18
Cite this article
No DOIReferences
1. Gregory P. Prastacos, Blood Inventory Management: An Overview of Theory and Practice, Manag. Sci. Informs 30(7) (1984), 777-800.
2. Fred Raafat, Survey of literature on continuously deteriorating inventory models, J. Oper. Res. Soc. 42(1) (1991), 27-37.
3. S. K. Goyal and B. C. Giri, Recent trends in modeling of deteriorating inventory, Eur. J. Oper. Res. 134(1) (2001), 1-16.
doi:10.1016/S0377-2217(00)00248-4
4. N. Khanlarzade, B. Y. Yegane, I. N. Kamalabadi and H. Farughi, International Journal of Industrial Engineering Computations 5 (2014)
179-198, doi:10.5267/j.ijiec.2013.11.003.
5. L. Janssen, T. Claus and J. Sauer, Literature review of deteriorating inventory models by key topics from 2012 to 2015, Int. J. Prod.
Econ. 182 (2016), 86-112.doi:10.1016/j.ijpe.2016.08.019
6. J. Kaushik and A. Sharma, Inventory model for the deteriorating items with price and time dependent trapezoidal type demand rate, Int.
J. Adv. Sci. Technol. 29(1) (2020), 1617-1629.
7. G. Ghare and P. Schrader, An inventory model for exponentially deteriorating items, J. Ind. Eng. 14(2) (1963), 238-243.
8. R. P. Covert and G. C. Philip, An EOQ model for items with weibull distribution Development of Inventory Models for Deteriorating
Items considering deterioration, AIIE Trans. 5(4) (1973), 323-326. doi:10.1080/05695557308974918
9. G. C. Philip, A generalized EOQ model for items with Weibull distribution deterioration, AIIE Trans. 6(2) (1974), 159-162.
doi:10.1080/05695557408974948
10. Y. K. Shah, An order-level lot-size inventory model for deteriorating items, AIIE Trans. 9(1) (1977), 108-112.
11. K. V. S. Sarma, A deterministic order level inventory model for deteriorating items with two storage facilities, Eur. J. Oper. Res. 29(1)
(1987), 70-73.
12. S. K. Goyal, On economic order quantity under conditions of permissible delay in payments’ by Goyal, J. Oper. Res. Soc. 36(11) (1985),
1069-1070. doi:10.1057/jors.1985.187
13. G. Padmanabhan and P. Vrat, An EOQ model for items with stock dependent consumption rate and exponential decay 18 (1990), 241-
246.
14. T. P. M. Pakkala and K. K. Achary, A deterministic inventory model for deteriorating items with two warehouses and finite
replenishment rate, Eur. J. Oper. Res. 57(1) (1992), 71-76, doi: 10.1016/0377-2217(92)90306-T
15. AdrijitGowami and K. S. Chaudhuri, An economic order quantity model for items in demand, Journal of the Operational Research
Society 43(2) (1992), 157-167.
16. S. Sana, S. K. Goyal and K. S. Chaudhuri, A production-inventory model for a deteriorating item with trended demand and shortages,
Eur. J. Oper. Res. 157(2) (2004), 357-371, doi:10.1016/S0377-2217(03)00222-4
17. C. T. Chang, An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity, Int. J. Prod. Econ.
88(3) (2004), 307-316. doi:10.1016/S0925-5273(03)00192-0
18. H. L. Yang, Two-warehouse inventory models for deteriorating items with shortages under inflation, Eur. J. Oper. Res. 157(2) (2004),
344-356. doi:10.1016/S0377- 2217(03)00221-2
19. H. L. Yang, A comparison among various partial backlogging inventory lot-size models for deteriorating items on the basis of maximum profit, Int. J. Prod. Econ. 96(1) (2005), 119-128. doi:10.1016/j.ijpe.2004.03.007.
20. H. L. Yang, Two-warehouse partial backlogging inventory models for deteriorating items under inflation, Int. J. Prod. Econ. 103(1)
(2006), 362-370. doi:10.1016/j.ijpe.2005.09.003
21. C. C. Lee, Two-warehouse inventory model with deterioration under FIFO dispatching policy, Eur. J. Oper. Res. 174(2) (2006), 861-
873. doi:10.1016/j.ejor.2005.03.027
22. C. Y. Dye, L. Y. Ouyang and T. P. Hsieh, Deterministic inventory model for deteriorating items with capacity constraint and timeproportional backlogging rate, Eur. J. Oper. Res. 178(3) (2007), 789-807. doi:10.1016/j.ejor.2006.02.024
23. B. Niu and J. Xie, A note on Two-warehouse inventory model with deterioration under FIFO dispatch policy, Eur. J. Oper. Res. 190(2)
(2008), 571-577. doi:10.1016/j.ejor.2007.06.027
24. L. Y. Ouyang, J. T. Teng, S. K. Goyal and C. Te Yang, An economic order quantity model for deteriorating items with partially
permissible delay in payments linked to order quantity, Eur. J. Oper. Res. 194(2) (2009), 418-431. doi:10.1016/j.ejor.2007.12.018
25. HimanshuPandey and AshutoshPandey, An inventory model for deteriorating items with two level storage with uniform demand and
storage under inflation and completely backlogged April, 2013.
26. A.A. Shaikh, A two warehouse inventory model for deteriorating items with variable demand under alternative trade credit policy, Int. J.
Logist. Syst. Manag. 27(1) (2017), 40-61. doi:10.1504/IJLSM.2017.083221
27. H. M. Wee, Joint pricing and replenishment policy for deteriorating inventory with declining market, Int. J. Prod. Econ. 40 (2-3), (1995),
163-171. doi:10.1016/0925-5273(95)00053-3
28. H. Wee, A replenishment policy for items with a price- dependent demand and a varying rate of deterioration 8(5) (1997), 494-499.
doi:10.1080/095372897235073
29. P. L. Abad, Optimal pricing and lot-sizing under conditions of perish ability and partial backordering, Manage. Sci. 42(8) (1996), 1093-
1104. doi:0.1287/mnsc.42.8.1093
30. Hui-Ming Wee, Deteriorating inventory model with quantity discount, pricing and partial backordering, Int. J. Prod. Econ. 59(1) (1999),
511-518.
31. P. L. Abad, Optimal price and order size for a reseller under partial backordering, Comput. Oper. Res. 28(1) (2001), 53-65.
doi:10.1016/S0305-0548(99)00086-6.
32. S. Papachristos and K. Skouri, An inventory model with deteriorating items, quantity discount, pricing and time-dependent partial
backlogging, Int. J. Prod. Econ. 83(3) (2003), 247-256. doi:10.1016/S0925-5273(02)00332-8.
33. P. L. Abad, Optimal pricing and lot-sizing under conditions of perishability, finite production and partial backordering and lost sale,
Eur. J. Oper. Res. 144 (1) (2003), 677-685.
34. S. W. Shinn and H. Hwang, Optimal pricing and ordering policies for retailers under order-size-dependent delay in payments, Comput. Oper. Res. 30(1) (2003), 35-50.doi:10.1016/S0305-0548(01)00076-4
35. A.K. Pal, A. K. Bhunia and R. N. Mukherjee, Optimal lot size model for deteriorating items with demand rate dependent on displayed
stock level (DSL) and partial backordering, Eur. J. Oper. Res. 175(2) (2006), 977-991. doi:10.1016/j.ejor.2005.05.022
36. C.Y. Dye and L. Y. Ouyang, An EOQ model for perishable items under stock-dependent selling rate and time-dependent partial
backlogging, Eur. J. Oper. Res. 163(3) (2005), 776-783. doi:10.1016/j.ejor.2003.09.027
37. J. T. Teng, L. Y. Ouyang and L. H. Chen, A comparison between two pricing and lotsizing models with partial backlogging and
deteriorated items, Int. J. Prod. Econ. 105(1) (2007), 190-203. doi:10.1016/j.ijpe.2006.03.003
38. S. K. Goyal and B. C. Giri, The production-inventory problem of a product with time varying demand, Production and Deterioration
Rates 147 (2003), 549-557. doi:10.1016/S0377-2217(02)00296-5
39. Y. Tsao and G. Sheen, Dynamic pricing, promotion and replenishment policies for a deteriorating item under permissible delay in
payments 35 (2008), 3562-3580. doi:10.1016/j.cor.2007.01.024
40. T. P. Hsieh and C. Y. Dye, Pricing and lot-sizing policies for deteriorating items with partial backlogging under inflation, Expert Syst.
Appl. 37(10) (2010), 7234-7242, doi:10.1016/j.eswa.2010.04.004.
41. R. Maihami and I. NakhaiKamalabadi, Joint pricing and inventory control for non-development of Inventory Models for Deteriorating
Items considering instantaneous deteriorating items with partial backlogging and time and price dependent demand, Int. J. Prod. Econ.
136(1) (2012), 116-122. doi:10.1016/j.ijpe.2011.09.020
42. M. Rastogi, S. R. Singh, P. Kushwah and S. Tayal, An EOQ model with variable holding cost and partial backlogging under credit limit
policy and cash discount, Uncertain Supply Chain Manag. 5(1) (2017), 27-42. doi:10.5267/j.uscm.2016.8.002.
43. Shalini Singh and G. C. Sharma, Inventory model with shortages and deterioration for three different demand rates, K. Deep al. (eds.),
Logist. Supply Chain Financ. Predict. Anal., vol. 1, 2019.
44. Sharma Animesh Kumar, An overview and study on inventory model with deteriorating items,IJSRD - International Journal for Scientific
Research & Development, vol. 03(10), 2019, p.01-05 .
45. Sharma AnimeshKumar,On Some Inventory Models for Deteriorating Objects, IJSRD - International Journal for Scientific Research &
Development, vol. 07(08),no.-08, 2019, pp. 377-380.
46. Sharma Animesh Kumar,Study to overview on inventory management and related models, vol. 08, no.-11(2), 2019, pp.77-81.
2. Fred Raafat, Survey of literature on continuously deteriorating inventory models, J. Oper. Res. Soc. 42(1) (1991), 27-37.
3. S. K. Goyal and B. C. Giri, Recent trends in modeling of deteriorating inventory, Eur. J. Oper. Res. 134(1) (2001), 1-16.
doi:10.1016/S0377-2217(00)00248-4
4. N. Khanlarzade, B. Y. Yegane, I. N. Kamalabadi and H. Farughi, International Journal of Industrial Engineering Computations 5 (2014)
179-198, doi:10.5267/j.ijiec.2013.11.003.
5. L. Janssen, T. Claus and J. Sauer, Literature review of deteriorating inventory models by key topics from 2012 to 2015, Int. J. Prod.
Econ. 182 (2016), 86-112.doi:10.1016/j.ijpe.2016.08.019
6. J. Kaushik and A. Sharma, Inventory model for the deteriorating items with price and time dependent trapezoidal type demand rate, Int.
J. Adv. Sci. Technol. 29(1) (2020), 1617-1629.
7. G. Ghare and P. Schrader, An inventory model for exponentially deteriorating items, J. Ind. Eng. 14(2) (1963), 238-243.
8. R. P. Covert and G. C. Philip, An EOQ model for items with weibull distribution Development of Inventory Models for Deteriorating
Items considering deterioration, AIIE Trans. 5(4) (1973), 323-326. doi:10.1080/05695557308974918
9. G. C. Philip, A generalized EOQ model for items with Weibull distribution deterioration, AIIE Trans. 6(2) (1974), 159-162.
doi:10.1080/05695557408974948
10. Y. K. Shah, An order-level lot-size inventory model for deteriorating items, AIIE Trans. 9(1) (1977), 108-112.
11. K. V. S. Sarma, A deterministic order level inventory model for deteriorating items with two storage facilities, Eur. J. Oper. Res. 29(1)
(1987), 70-73.
12. S. K. Goyal, On economic order quantity under conditions of permissible delay in payments’ by Goyal, J. Oper. Res. Soc. 36(11) (1985),
1069-1070. doi:10.1057/jors.1985.187
13. G. Padmanabhan and P. Vrat, An EOQ model for items with stock dependent consumption rate and exponential decay 18 (1990), 241-
246.
14. T. P. M. Pakkala and K. K. Achary, A deterministic inventory model for deteriorating items with two warehouses and finite
replenishment rate, Eur. J. Oper. Res. 57(1) (1992), 71-76, doi: 10.1016/0377-2217(92)90306-T
15. AdrijitGowami and K. S. Chaudhuri, An economic order quantity model for items in demand, Journal of the Operational Research
Society 43(2) (1992), 157-167.
16. S. Sana, S. K. Goyal and K. S. Chaudhuri, A production-inventory model for a deteriorating item with trended demand and shortages,
Eur. J. Oper. Res. 157(2) (2004), 357-371, doi:10.1016/S0377-2217(03)00222-4
17. C. T. Chang, An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity, Int. J. Prod. Econ.
88(3) (2004), 307-316. doi:10.1016/S0925-5273(03)00192-0
18. H. L. Yang, Two-warehouse inventory models for deteriorating items with shortages under inflation, Eur. J. Oper. Res. 157(2) (2004),
344-356. doi:10.1016/S0377- 2217(03)00221-2
19. H. L. Yang, A comparison among various partial backlogging inventory lot-size models for deteriorating items on the basis of maximum profit, Int. J. Prod. Econ. 96(1) (2005), 119-128. doi:10.1016/j.ijpe.2004.03.007.
20. H. L. Yang, Two-warehouse partial backlogging inventory models for deteriorating items under inflation, Int. J. Prod. Econ. 103(1)
(2006), 362-370. doi:10.1016/j.ijpe.2005.09.003
21. C. C. Lee, Two-warehouse inventory model with deterioration under FIFO dispatching policy, Eur. J. Oper. Res. 174(2) (2006), 861-
873. doi:10.1016/j.ejor.2005.03.027
22. C. Y. Dye, L. Y. Ouyang and T. P. Hsieh, Deterministic inventory model for deteriorating items with capacity constraint and timeproportional backlogging rate, Eur. J. Oper. Res. 178(3) (2007), 789-807. doi:10.1016/j.ejor.2006.02.024
23. B. Niu and J. Xie, A note on Two-warehouse inventory model with deterioration under FIFO dispatch policy, Eur. J. Oper. Res. 190(2)
(2008), 571-577. doi:10.1016/j.ejor.2007.06.027
24. L. Y. Ouyang, J. T. Teng, S. K. Goyal and C. Te Yang, An economic order quantity model for deteriorating items with partially
permissible delay in payments linked to order quantity, Eur. J. Oper. Res. 194(2) (2009), 418-431. doi:10.1016/j.ejor.2007.12.018
25. HimanshuPandey and AshutoshPandey, An inventory model for deteriorating items with two level storage with uniform demand and
storage under inflation and completely backlogged April, 2013.
26. A.A. Shaikh, A two warehouse inventory model for deteriorating items with variable demand under alternative trade credit policy, Int. J.
Logist. Syst. Manag. 27(1) (2017), 40-61. doi:10.1504/IJLSM.2017.083221
27. H. M. Wee, Joint pricing and replenishment policy for deteriorating inventory with declining market, Int. J. Prod. Econ. 40 (2-3), (1995),
163-171. doi:10.1016/0925-5273(95)00053-3
28. H. Wee, A replenishment policy for items with a price- dependent demand and a varying rate of deterioration 8(5) (1997), 494-499.
doi:10.1080/095372897235073
29. P. L. Abad, Optimal pricing and lot-sizing under conditions of perish ability and partial backordering, Manage. Sci. 42(8) (1996), 1093-
1104. doi:0.1287/mnsc.42.8.1093
30. Hui-Ming Wee, Deteriorating inventory model with quantity discount, pricing and partial backordering, Int. J. Prod. Econ. 59(1) (1999),
511-518.
31. P. L. Abad, Optimal price and order size for a reseller under partial backordering, Comput. Oper. Res. 28(1) (2001), 53-65.
doi:10.1016/S0305-0548(99)00086-6.
32. S. Papachristos and K. Skouri, An inventory model with deteriorating items, quantity discount, pricing and time-dependent partial
backlogging, Int. J. Prod. Econ. 83(3) (2003), 247-256. doi:10.1016/S0925-5273(02)00332-8.
33. P. L. Abad, Optimal pricing and lot-sizing under conditions of perishability, finite production and partial backordering and lost sale,
Eur. J. Oper. Res. 144 (1) (2003), 677-685.
34. S. W. Shinn and H. Hwang, Optimal pricing and ordering policies for retailers under order-size-dependent delay in payments, Comput. Oper. Res. 30(1) (2003), 35-50.doi:10.1016/S0305-0548(01)00076-4
35. A.K. Pal, A. K. Bhunia and R. N. Mukherjee, Optimal lot size model for deteriorating items with demand rate dependent on displayed
stock level (DSL) and partial backordering, Eur. J. Oper. Res. 175(2) (2006), 977-991. doi:10.1016/j.ejor.2005.05.022
36. C.Y. Dye and L. Y. Ouyang, An EOQ model for perishable items under stock-dependent selling rate and time-dependent partial
backlogging, Eur. J. Oper. Res. 163(3) (2005), 776-783. doi:10.1016/j.ejor.2003.09.027
37. J. T. Teng, L. Y. Ouyang and L. H. Chen, A comparison between two pricing and lotsizing models with partial backlogging and
deteriorated items, Int. J. Prod. Econ. 105(1) (2007), 190-203. doi:10.1016/j.ijpe.2006.03.003
38. S. K. Goyal and B. C. Giri, The production-inventory problem of a product with time varying demand, Production and Deterioration
Rates 147 (2003), 549-557. doi:10.1016/S0377-2217(02)00296-5
39. Y. Tsao and G. Sheen, Dynamic pricing, promotion and replenishment policies for a deteriorating item under permissible delay in
payments 35 (2008), 3562-3580. doi:10.1016/j.cor.2007.01.024
40. T. P. Hsieh and C. Y. Dye, Pricing and lot-sizing policies for deteriorating items with partial backlogging under inflation, Expert Syst.
Appl. 37(10) (2010), 7234-7242, doi:10.1016/j.eswa.2010.04.004.
41. R. Maihami and I. NakhaiKamalabadi, Joint pricing and inventory control for non-development of Inventory Models for Deteriorating
Items considering instantaneous deteriorating items with partial backlogging and time and price dependent demand, Int. J. Prod. Econ.
136(1) (2012), 116-122. doi:10.1016/j.ijpe.2011.09.020
42. M. Rastogi, S. R. Singh, P. Kushwah and S. Tayal, An EOQ model with variable holding cost and partial backlogging under credit limit
policy and cash discount, Uncertain Supply Chain Manag. 5(1) (2017), 27-42. doi:10.5267/j.uscm.2016.8.002.
43. Shalini Singh and G. C. Sharma, Inventory model with shortages and deterioration for three different demand rates, K. Deep al. (eds.),
Logist. Supply Chain Financ. Predict. Anal., vol. 1, 2019.
44. Sharma Animesh Kumar, An overview and study on inventory model with deteriorating items,IJSRD - International Journal for Scientific
Research & Development, vol. 03(10), 2019, p.01-05 .
45. Sharma AnimeshKumar,On Some Inventory Models for Deteriorating Objects, IJSRD - International Journal for Scientific Research &
Development, vol. 07(08),no.-08, 2019, pp. 377-380.
46. Sharma Animesh Kumar,Study to overview on inventory management and related models, vol. 08, no.-11(2), 2019, pp.77-81.
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