Treffer: Production Inventory Models for Deteriorative Items with Three Levels of Production and shortages.

In this paper, a production inventory model with Deteriorative items in which one, two and three levels of production are considered and it is possible that production started at one rate and after some time it may be switched over 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. The variation in production rate provides a way resulting consumer satisfaction and earning potential profit. Three production inventory models are considered with one, two and three stages of production. A comparative study is carried out between holding cost and maximum inventory in three stages of production. A suitable mathematical model is developed for each model and the optimal production lot size which minimizes the total cost is derived. An illustrative example is provided. The validation of result in this model was coded in Microsoft Visual Basic 6.0 [ABSTRACT FROM AUTHOR]

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