Volume 1 - Issue 1
An Optimal Replenishment Policy for Non-Instantaneous Deteriorating Items with Price Dependent Demand and Time-Varying Holding Cost
Abstract
A number of inventory models have discussed the effect of deterioration in the past researches. Generally it has been assumed that items start deteriorating as soon as they arrive in the warehouse. But in real life there are numerous products like fruits, vegetables, meat, milk etc. that have a shelf life and start deteriorating after a time lag. This means that for some initial period of time, there is no deterioration in items. This phenomenon is termed as non-instantaneous deterioration and the items are termed as non-instantaneous deteriorating items. In the present paper, an inventory model for non-instantaneous deteriorating items with price dependent demand has been developed. Moreover, the holding cost is assumed to be time dependent. Further shortages are also allowed subject to full backlogging. The results have been elucidated with numerical examples.
Paper Details
PaperID: 6702211
Author Name: Chandra K. Jaggi
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Country: -
Keywords: Inventory, Non-Instantaneous Deterioration, Price Dependent Demand, Time-Varying Holding Cost, Shortages
Volume: Volume 1
Issues: Issue 1
Issue Type: Issue
Year: 2014
Month: March
Pages:90-96