A Study of Inventory System with Ramp Type Demand Rate and Shortage in The Light Of Inflation – I

  IJMTT-book-cover
 
International Journal of Mathematics Trends and Technology (IJMTT)
 
© 2015 by IJMTT Journal
Volume-17 Number-2
Year of Publication : 2015
Authors : Sangeeta Gupta , R.K. Srivastava , A.K. Singh
  10.14445/22315373/IJMTT-V17P513

MLA

Sangeeta Gupta , R.K. Srivastava , A.K. Singh "A Study of Inventory System with Ramp Type Demand Rate and Shortage in The Light Of Inflation – I", International Journal of Mathematics Trends and Technology (IJMTT). V17: 96-104 Jan 2015. ISSN:2231-5373. www.ijmttjournal.org. Published by Seventh Sense Research Group.

Abstract
In this paper, we develop an order-level inventory system for deteriorating items under inflation with ramp type demand function and partial exponential type-backlogging function of time. Three costs are considered under inflation as significant: deterioration, holding, shortage. The backlogging rate is an exponentially decreasing, time-dependent function specified by a parameter. For this model we derive results, which ensure the existence of a unique optimal policy and provide the solution procedure for the problem. The method is illustrated by numerical example, and sensitivity analysis of the optimal solution with respect to the parameters of the system is carried out.

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Keywords
Inventory, Deteriorating items, Inflation, Ramp type demand