A single cycle perishable inventory model with time dependent quadratic ramp-type demand and partial backlogging

S. Panda, S. Senapati and M. Basu

International Journal of Operational Research, 2009, vol. 5, issue 1, 110-129

Abstract: In order to analyse the behaviour of inventory level of a product level after it's introduction to the market a single item perishable inventory model is developed in this paper, where it is assumed that the demand is time dependent accelerated growth-effect of accelerated growth-steady type. The deterioration of inventory starts after a certain time. Shortages are allowed and are partially backlogged. The profit function is derived and unique existence of the solution is established. A numerical example is presented and sensitivity of the model is examined. The rationale of time dependent quadratic ramp-type demand is discussed.

Keywords: inventory models; deterioration; shortage; ramp-type quadratic demand; single cycle perishable inventory; partial backlogging; inventory levels; demand patterns; first replenishment cycle; new product launch. (search for similar items in EconPapers)
Date: 2009
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