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

DOI10.1504/IJMOR.2018.090801MaRDI QIDQ2204597zbMATH OpenOpenAlexFDO

Authors Deepa Khurana, Rekha Rani Chaudhary

Publication date 15 October 2020

Published in International Journal of Mathematics in Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1504/ijmor.2018.090801

zbMATH Keywords

deteriorationpartial backloggingshortagesstock and time dependent demand

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Review text

Summary: 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.

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