An order level inventory model for deteriorating stock product and time dependent demand under shortages

Deepa Khurana and Rekha Rani Chaudhary

International Journal of Mathematics in Operational Research, 2018, vol. 12, issue 3, 331-349

Abstract: The objective of the present paper is to develop an inventory model for deteriorating products. In this paper the demand is a function of time and available stock level since the available stock level is an important tool to attract the customers. The shortages are allowed and partially backlogged. Depending on the rate of backlogging two different cases are developed. In the first case, the rate of backlogging is constant and in another case the backlogging rate is time dependent. Numerical example is given to illustrate the model and its significant feature. Sensitivity analysis is also carried out to study the effect of different parameters on total average cost.

Keywords: deterioration; shortages; stock and time dependent demand; partial backlogging. (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmore:v:12:y:2018:i:3:p:331-349

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