An Economic order quantity model for Items with Three-parameter Weibull distribution Deterioration, Ramp-type Demand and Shortages

In this paper, we develop an economic order quantity inventory model for items with three-parameter Weibull distribution deterioration and ramp-type demand. Shortages are allowed in the inventory system and are completely backlogged. The demand rate is deterministic and varies with time up to a certain point and eventually stabilized and becomes constant. The instantaneous rate of deterioration is an increasing function of time. We provide simple analytical tractable procedures for deriving the model and give numerical examples to illustrate the solution procedure. Our adoption of ramp-type demand reflects a real market demand for newly launched product.