International Journal of Statistics and Applied Mathematics
2020, Vol. 5, Issue 1, Part A
A screening policy for an inventory model of decaying items with imperfect quality and price varying demandAuthor(s):
The present paper considers the study of an imperfect quality and screening policy for an inventory model of decaying items with price-varying demand. All defective items are screened by the retailer. The screening of defective items plays an important role in the optimization of a retailer's total profit/cost. Therefore, the inspection process of defective products is implemented by retailers assuming Type-I and Type-II errors. The inspection errors of Type-I and Type-II refer to a good product being assumed as defective and a defective product being assumed as good. The objective is to optimize the retailer's total inventory cost in the considered cycle length. The applicability of the model characteristics is demonstrated by a numerical example.Pages: 86-94 | Views: 80 | Downloads: 52Download Full Article: Click Here
How to cite this article:
Sushil Kumar. A screening policy for an inventory model of decaying items with imperfect quality and price varying demand. Int J Stat Appl Math 2020;5(1):86-94.