To Examine the Effect of Inventory Dependent Demand and Time Dependent Holding Cost on Inventory
Pankaj S. Ardak1, Atul B. Borade2
1Pankaj S. Ardak, Assistant Professor, P.R. Pote Collège of Engineering and Management, Amravati (Maharashtra), India.
2Dr. Atul B. Borade, Professor, Jawaharlal Darda Institute of Technology, Yavatmal (Maharashtra), India.
Manuscript received on 07 September 2019 | Revised Manuscript received on 16 September 2019 | Manuscript Published on 26 October 2019 | PP: 468-471 | Volume-8 Issue-11S2 September 2019 | Retrieval Number: K107609811S219/2019©BEIESP | DOI: 10.35940/ijitee.K1076.09811S219
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Inventory models are effectively used as control tool in most of the inventory control tools. The current study deals with the inventory production model for non momentary deteriorating items. To developed the mathematical model holding cost is considered as time and demand dependent. The items does not start to deteriorate as soon as it enters into the stock. During stock buildup time demand is assumed to be inventory dependent. Optimum solution has been find out by using differential calculus. Results indicate that total inventory has a major influence of inventory consumption parameter.
Keywords: EPQ, Holding Cost, Inventory and Time Dependent Consumption Rate.
Scope of the Article: Social Sciences