Constrained probabilistic multi-source inventory model by decreasing holding cost with Weibull and Lindley-Weibull distributions
Abstract
The main goal of this work is to minimize the expected total cost for a multi-item, multi-source (MIMS) probabilistic continuous review inventory model with constraint on the expected decreasing holding cost utilizing the Lagrange multiplier technique. The demand is a continuous random variable. The optimal order quantity and the optimal reorder point for the ith item and sth source which achieve the objective are obtained when lead time demand follows Weibull and Lindley-Weibull distributions. Also, an application is analyzed and reach the goal of minimizing the expected total cost.
Copyright © 2024 Fergany A. Hala, Gomaa A. Magda. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Cite this article
F. A. Hala, G. A. Magda, Constrained probabilistic multi-source inventory model by decreasing holding cost with Weibull and Lindley-Weibull distributions, J. Math. Comput. Sci. 13 (2023), 16. https://doi.org/10.28919/jmcs/8291
BibTeX
@article{Hala2023,
author = {Hala, Fergany A. and Magda, Gomaa A.},
title = {Constrained probabilistic multi-source inventory model by decreasing holding cost with Weibull and Lindley-Weibull distributions},
journal = {J. Math. Comput. Sci.},
volume = {13},
year = {2023},
pages = {16},
doi = {10.28919/jmcs/8291}
}