An overtime production inventory model for deteriorating items with nonlinear price and stock dependent demand

The goal of this work is to discuss a production inventory model for deteriorating items with nonlinear price and linear stock dependent market demand along with an overtime production opportunity. The corresponding optimization problem is articulated mathematically and hence solved by using lingo software. To examine the proposed nonlinear optimization problem's significance, one numerical example is deliberated. A sensitivity analysis is accomplished on the basis of the systematic changes of the system parameters. As a final point, based on the accomplished analysis an effectual conclusion is reflected. (C) 2021 THE AUTHORS. Published by Elsevier BV on behalf of Faculty of Engineering, Alexandria University. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Automated summary

This work discusses a production inventory model for deteriorating items with nonlinear price, linear demand, and overtime production. The optimization problem is mathematically formulated and solved using lingo software, with a numerical example and sensitivity analysis conducted to validate the significance of the proposed nonlinear optimization problem, thus leading to an effective conclusion.