MULTI RATES (0NE, TWO AND THREE) OF PRODUCTION INVENTORY MODELS FOR DETERIORATING ITEMS WITH COMPARATIVE STUDY

Abstract

In production inventory system, there are situations, in which it is not possible to have single rate of production throughout the
production period. Items are produced at different rates during sub periods so as to meet various constraints that arise due to
change in demand pattern, market fluctuations, etc., In this paper, a production inventory model with deteriorative items in which
multi-rates (one, two and three) of production are considered and it is possible that production started at one rate and after some
time it may be switched over to another rate. Such a situation is desirable in the sense that by starting at a low rate of production,
a large quantum stock of manufacturing items at the initial stage is avoided, leading to reduction in the holding cost. A suitable
mathematical model is developed and the optimal production lot size which minimizes the total cost is derived. The global optimal
solution is derived and an illustrative example is provided and numerically verified. The validation of result in this model was
coded in Microsoft Visual Basic 6.0