Deteriorating inventory model with quadratically time varying demand and partial backlogging
Keywords:Inventory, deteriorating items, shortages, controllable deterioration rate, partial backlogging, preservation technology, time dependent holding cost
AbstractIn this paper, a deterministic inventory model is developed for deteriorating items in whichshortages are allowed and partially backlogged. Deterioration rate is constant, demand rate isquadratic function of time and holding cost is linear function of time, backlogging rate isvariable and is dependent on the length of the next replenishment. The model is solvedanalytically by minimizing the total inventory cost. This inventory model is also use as aninventory model for linear as well as constant demand rate by very small change in theparameter of the quadratic function. Numerical examples are provided to illustrate thesolution and application of the model.
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