A Joint production-inventory model for stock and price dependent consumption rate with production interruptions

Abstract

Production control plays a crucial role in economic development of an industry. In practice, it has been perceived that production rate of a manufacturing industry is often interrupted, so we developed the production inventory of deteriorating item considering stock and selling price dependent consumption rate which increases linearly with stock and decreases with price. In this paper we made an attempt to control the production in such a way that balances between   overstock and shortage can be maintained. Finally, we have validated the model by set of numerical experiment under different cases to demonstrate the behavior of the proposed model.

Mathematics subject classification: 90B05, 65K10