A Deterministic Inventory Model for Non-Instantaneous Deteriorating Items with Allowed Backorders and Quadratic Time Varying Holding Cost

Teekam Chand Meena, Anil Kumar Sharma

Abstract: In this manuscript, an inventory model has been formulated in which shortages are allowed and fully backlogged. Deterioration rate is constant and demand is a function of selling price. Holding cost is a quadratic function of time. Here we have to derive optimum cycle time so as to minimize the total cost. To illustrate the model, numerical examples are used.

Keywords: Deterioration, selling price dependent demand, backlogging