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Inventory Management Model with Quadratic Demand, Variable Holding Cost with Salvage value

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Author Affiliations

  • 1 F-Civil, Dept of Mathematics, College of Military Engineering, Pune,INDIA
  • 2 GITAM School of International Business, GITAM University, Visakhapatnam, INDIA

Res. J. Management Sci., Volume 3, Issue (1), Pages 18-22, January,6 (2014)

Abstract

In this paper inventory management model for deteriorating products with quadratic function of time as rate of demand. Here the deterioration is considered as weibull deterioration rate. Shortages are allowed. The salvage value is also used for deteriorated items in the system. The total cost is calculated by considering variable holding cost. Suitable values for the parameters considered in the numerical example. Sensitivity analysis is also discussed.

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