Research On Some Inventory Models For Items With Weibull Distribution Deterioration

With the development of scientific and technological progress, the integration of world economy and the coming of low-profit era, inventory management has become an important issue facing business. Deterioration of goods during inventory management is a common phenomenon, but in most cases inevitable. Suppliers sometimes adopt delayed pament strategy in order to promote the retailer to order and reduce loss caused by deterioration. Therefore it will be practically significant and theoretically valuable to study inventory models with deteriorating items under dealy in payment. This paper aims at minimizing the retailer's cost and studies inventory models for items with Weilbull distribution deterioration and dely in payment. Its hypotheses are more practical than those in previous research results and the thesis can be mainly divided into three parts.Firstly this paper introduces inventory models respecltively with delay in payment, deteriorating items, and deterioration combined with delay in payment based on the related theories about inventory management. And it summarizes EOQ model with delay in payment and constant deteriorating rate.Secondly, this paper investigates the inventory model for items with Weibull distribution deterioration and delay in payment. It simplifies the process of certification and operations due to altering integral order. Approximation algorithm is designed to solve the model and numerical examples are conducted to evaluate the feasibility and the validity of the proposed algorithm.Finally, the above model is expanded further and the deterioration in the non-instantaneous case is considered. That is to say deterioration begins to occur after storage for a period of time. This paper considers both no-shotage and partial backlogging and respectively proves the existence of the optimal ordering policy. And also approximation algorithm is designed and numerical examples are given in this part.