A deteriorating inventory model using time-value of money with price dependent declined quadratic demand allowing promotion policy is developed for a deterministic inventory system. This study applied the discounted cash flows (DCF) approach for problem analysis with shortages in economic production quantity (EPQ) model. The objective of this model is to maximize the net present value profit so...

The recent advances in manufacturing systems motivate several studies to focus on Economic Production Quantity (EPQ) problem. Althuogh there are several extentions to the EPQ, this paper provides a new extension by considering some of the real world parameters like: (a) shortages in the form of partial backordering, (b) inventory can deteriorate stochastically, (c) machine can break down stocha...

In general, traditional production-inventory systems are based on a number of simplifying – but somewhat unrealistic – assumptions, including constant demand rate, constant holding cost, and instantaneous order replenishment. These assumptions have been individually challenged in numerous variations of production-inventory models. Finite production rate models, such as economic production quant...

The traditional inventory of the economic order quantity model assumes perfect items in an ordered lot and an infinite replenishment rate. However, such conditions are rare in actual production environments. Additionally, most studies of this problem have only considered suppliers offering the wholesaler a grace period. In practice, wholesalers often extend a fixed credit period to downstream c...

The sustainable EPQ models that have been proposed in the inventory literature are insufficient to address practical scenario of defects manufacturing and subsequent rework for remedial actions. In this article, model with faulty products has studied. Promotional activities key factors significantly affect market demand an item. impacts random combining economic environmental elements on order ...

This investigation presents an economic production quantity (EPQ) model for deteriorating items with stock-dependent demand and shortages. It is assumed that a constant fraction of the on-hand inventory deteriorates and demand rate depends upon the amount of the stock level. Expression for various optimal indices as well as cost analysis are provided. By taking numerical illustration, sensitivi...

Ovarian cancer is the deadliest gynecological malignancy in women, and fifth leading cause of death. Despite advances made in chemotherapy and surgery, the average time of clinical remission is approximately 2 years and the 5-year survival rate is 45%. Thus, there is an urgent need for the development of a novel therapeutic approach to ovarian cancer treatment. We investigated the effect of a s...