Inventory System with Time and Price Dependent Demand Ratio for Decreasing Items

Abstract

An inventory model for decaying items with time and price dependent demand for horizon is developed. In this model deterioration rate is taken as quadratic as well as shortages are not permitted. Cost minimization technique is used to get the approximate expressions for total cost and other parameters. we developed a model under consider demand as price and time dependent rate. Special cases of model are discussed for different values of change in constant of proportional and inflation rate.