Abstract
In this article, an inventory model for a production unit with an uneven production rate and time sensitive selling cost has been considered. The considered production inventory model is accepted to make perfect items at commencement of production but owing to various factors, it starts producing defective items after some time and it increases exponentially by time, i.e., the uneven production rate has been considered. The demand is considered to be time dependent. Initially for a definite time, production rate is considered as constant, but eventually, due to different factors, production starts decreasing. Thus, the efficiency (E) of these units must be improved to get extra production which can sustain the production competence. In view of this fact, inverse efficiency λ is introduced in production rate. Using concepts of differential calculus, expected maximum profit has been determined. The purpose of the current investigation is to find the perfect arrangement for a production policy that increases the total benefit subject to certain limitations. Results are examined by means of a mathematical example to support the theory.
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Sharma, R., Buttar, G.S. (2023). An Inventory Model for Imperfect Production and Time Sensitive Selling Price. In: Singh, R.P., Tyagi, M., Walia, R.S., Davim, J.P. (eds) Advances in Modelling and Optimization of Manufacturing and Industrial Systems. Lecture Notes in Mechanical Engineering. Springer, Singapore. https://doi.org/10.1007/978-981-19-6107-6_21
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DOI: https://doi.org/10.1007/978-981-19-6107-6_21
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