An Inventory Model under Influence of Money Inflation, Time Dependent Holding Cost and Multivariate Demand

Teekam Chand Meena, Anil Kumar Sharma, Subash Yadav

Abstract: In this manuscript, we have tried to develop an inventory model in which demand is deterministic and dependent on multiple variables like price and stock dependent. Due to decline in purchasing power of money, the concept of inflation is also considered. Deterioration rate is constant. Holding cost is time dependent. Shortages are allowed and partially backlogged.

Keywords: Multivariate demand, money inflation, partial backlogging