To develop an Deterministic Inventory Model for Deteriorating Items with Biquadratic Demand Rate And Constant Deterioration Rate

  IJMTT-book-cover
 
International Journal of Mathematics Trends and Technology (IJMTT)
 
© 2021 by IJMTT Journal
Volume-67 Issue-9
Year of Publication : 2021
Authors : Suman, Vinod Kumar
  10.14445/22315373/IJMTT-V67I9P511

MLA

MLA Style: Suman, Vinod Kumar "To develop an Deterministic Inventory Model for Deteriorating Items with Biquadratic Demand Rate And Constant Deterioration Rate" International Journal of Mathematics Trends and Technology 67.9 (2021):96-104. 

APA Style: Suman, Vinod Kumar(2021). To develop an Deterministic Inventory Model for Deteriorating Items with Biquadratic Demand Rate And Constant Deterioration Rate  International Journal of Mathematics Trends and Technology, 67(9), 96-104.

Abstract
This work investigates a deterministic inventory mathematical model for decaying items with a biquadratic demand function over time. Shortages are also allowed in the model. It also demonstrates that the biquadratic demand function is convex and provides the best solution. The convexity of this model is demonstrated via a three-dimensional graphical representation. To double-check the model, an illustration is made. The ideal solution has been subjected to a sensitivity analysis with regard to main parameters, and the results have been presented.

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Keywords : Deterioration, Biquadratic demand, Shortages, Total inventory cost.