Economic production quantity models for deteriorating items with ramp type demand (Q969373)

Summary: We develop two deterministic economic production quantity (EPQ) models for Weibull-distribution deteriorating items with demand rate as a ramp type function of time. It is assumed that the finite production rate is proportional to the time-dependent demand rate and the unit production cost is inversely proportional to the production rate. The EPQ model without shortages is studied first. The EPQ model with shortages is investigated next. Results are illustrated with the help of a base example. Computational results show that the model with shortages allowed is economically beneficial. Sensitivity of the solution to changes in the value of input parameters of the base example is also discussed.