HUBEI AGRICULTURAL SCIENCES ›› 2021, Vol. 60 ›› Issue (10): 166-170.doi: 10.14088/j.cnki.issn0439-8114.2021.10.034

• Economy & Management • Previous Articles     Next Articles

Inventory management of meat commodities with two-parameter Weibull distribution of deterioration rate:Considering the critical point of inventory level

ZHANG Yuan1,2   

  1. 1. Xianda College of Economics & Humanities,Shanghai International Studies University,Shanghai 200083,China;
    2. Institute of Industrial Economics,Chinese Academy of Social Sciences,Beijing 100732,China
  • Received:2020-06-03 Online:2021-05-25 Published:2021-05-28

Abstract: Based on the inventory management problems of physical deterioration rate obeying two-parameter Weibull distribution, considering the factor of critical point of inventory level, an inventory control model suitable for meat commodities management enterprises was constructed. The objective of inventory management was to minimize the average inventory cost per unit time. The

Key words: specific derivation steps of Newton-Raphson iterative method were given, and the global optimal solution was proved the existence and uniqueness. An example from market research data was used to verify the model and analyze the sensitivity of a series of parameters such as deterioration rate parameter and demand rate parameter. The results showed that the deterioration rate of commodities had a significant impact on the inventory management strategy of enterprises, ①the larger the shape parameter of deterioration rate was, the larger the single order quantity of enterprises also need to be, ②the larger the demand rate of meat market was, the larger the single order quantity of enterprises also need to be, ③when the deterioration rate of meat commodities reached a certain threshold, the optimal order quantity was basically not affected by the change of deterioration rate.

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