Total Revenue Function For Non Regular Fixed Lifetime  Inventory System: A Case Study Of Airplane Seats.

Authors

  • O. OGBEREYIVWE Department of Mathematics, Delta State University of Science and Technology, Ozoro, Author
  • S.O OSEMWENKHA Department of Physical Sciences, Benson Idahosa University, Benin City. Author

DOI:

https://doi.org/10.60787/jnamp.v68no1.420

Keywords:

Revenue Function, Inventory, System Airplane seats

Abstract

The seats in an airplane are considered as non-regular fixed lifetime inventory. An inventory system where items outdate in one period but become useful in the next period. The revenue function per trip was derived for the airplane. The outdates and shortages resulting from low demand and excess demand for seats on the airplane were also derived. The revenue function was simulated in a numerical example...

         Views | Downloads: 6 / 1

Downloads

Download data is not yet available.

Author Biographies

  • O. OGBEREYIVWE, Department of Mathematics, Delta State University of Science and Technology, Ozoro,


     AND OSEMWENKHA, S.O
    Department of Mathematics, Delta State University of Science and Technology, Ozoro,
    Department of Physical Sciences, Benson Idahosa University, Benin City. 

    *Corresponding author: OGBEREYIVWE O.
    E-mail address: jonasachuobi@gmail.com 

  • S.O OSEMWENKHA, Department of Physical Sciences, Benson Idahosa University, Benin City.




References

.Izevbizua O. and Apanapudor J. (2019); Comparing the Sensitivity of Quantity Based and Useful Lifetime Based Fixed Lifetime Inventory Models to Changes in Costs: Abacus (Mathematics Science Series) 44(1).

.Chiu H.N (1994); An approximation to the continuous review inventory model with perishable items and lead times. European Journal to Operational Research, Vol 87, pp 93 – 108.

.Izevbizua, O and Nomuoja, A.J (2021); The revenue generating function for non-regular fixed lifetime inventory system, a case study of hotel rooms. Australian Journal of Basic and Applied Sciences. 15(12). Pp 10 – 23.

.Ulku Gurler and Emre Berk (2021); An exact analysis on age based control policies for perishable inventories. IISE transactions, vol 53 (2), pp 221 – 245.

.Nahmias, S (1978); the fixed charge perishable inventory problem. Journal of Operations Research. Vol 26(3), pp 64 – 68.

.Izevbizua and Olowo (2023). The revenue generating model for radio and television. International Journal of Statistics and Applied Mathematics. Vol 8 (1), 26 – 29.

.Craig A, Depken II and Frank Stephenson (2018). Hotel demand before, during and after sport events. Evidence from Charlotte, north carolina. Economic inquiry. 56 (3) 196 – 210.

.Ulku Gurler and Emre Berk (2021). An exact analysis on age based control policies for perishable inventories. IISE Transactions vol 53 (2) 221 – 245.

.Izevbizua O and Omosigho S E. (2017). A review of the fixed lifetime inventory system. Journal of Mathematical Association of Nigeria. Vol 44 (2) 188- -198.

Downloads

Published

2024-10-23

Issue

Section

Articles

How to Cite

Total Revenue Function For Non Regular Fixed Lifetime  Inventory System: A Case Study Of Airplane Seats. (2024). The Journals of the Nigerian Association of Mathematical Physics, 68, 65-70. https://doi.org/10.60787/jnamp.v68no1.420

Share

Similar Articles

1-10 of 52

You may also start an advanced similarity search for this article.