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

Sangeeta Gupta; R.K. Srivastava; A.K. Singh

doi:https://doi.org/10.14445/22315373/IJMTT-V17P513

International Journal of Mathematics Trends and Technology

Research Article | Open Access | Download PDF

Volume 17 | Number 2 | Year 2015 | Article Id. IJMTT-V17P513 | DOI : https://doi.org/10.14445/22315373/IJMTT-V17P513

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

Sangeeta Gupta, R.K. Srivastava, A.K. Singh

Citation :

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), vol. 17, no. 2, pp. 96-104, 2015. Crossref, https://doi.org/10.14445/22315373/IJMTT-V17P513

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.

Keywords

Inventory, Deteriorating items, Inflation, Ramp type demand

References

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