A note on the inventory models for deteriorating items with Verhulst's model type demand rate

Anand Chauhan and Anubhav Pratap Singh

International Journal of Operational Research, 2015, vol. 22, issue 2, 243-261

Abstract: In this paper, we introduce the inventory model for deteriorating items with Verhulst's model type demand rate, that is, the integrated demand pattern for growth and maturity stage to the final decay stage for single-period products. We developed an inventory replenishment policy and found the Verhulst's model type demand rate is more applicable than ramp type demand rate model and trapezoidal type demand rate model in the stage of product life cycle. This paper provides interesting facts for the further study of such kind of demand rates. Numerical examples and solution procedure are presented to demonstrate the developed model.

Keywords: inventory modelling; deteriorating items; deterioration; EOQ; optimal replenishment policy; Verhulst model; demand rates. (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijores:v:22:y:2015:i:2:p:243-261

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