A Double - Intersection Production Strategy Of An Inventory Policy Of Deteriorating Item Under Partial Backlogging Regime
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Abstract
This study develops an inventory optimization model for perishable item (blood) using deteriorating inventory theory. The framework integrates time-dependent demand D(u) = Ae—αdu with Weibull- based hazard h(u) = αβuβ—1e—α(u)β under partial back-logging regime. Numerical illustration was
used to validate that the deterioration hazard function rises, and intersects the declining demand function at u = 1.7 time units, cli-maxed at u = 3 time units and then falls to intersect the declining demand function ones again at u = 4.3 time units thereby creating a window for a double - intersection production strategy
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