Procurement and Pricing Decision for Trapezoidal Demand Rate and Time Dependent Deterioration
Jitendra Kaushik1, Ashish Sharma2
1Jitendra Kaushik*, Department of Master of Business Administration and PGDM, Sunstone Eduversity, Lower Ground, 006 Spring House, Grand Mall, MG Road Gurugram, Haryana, India,. And, Department of Mathematics, Institute of Applied Sciences and Humanities, GLA University, Mathura, India.
2Ashish Sharma, Department of Mathematics, Institute of Applied Sciences and Humanities, GLA University, Mathura, India.
Manuscript received on September 16, 2019. | Revised Manuscript received on 24 September, 2019. | Manuscript published on October 10, 2019. | PP: 2826-2834 | Volume-8 Issue-12, October 2019. | Retrieval Number: L30291081219/2019©BEIESP | DOI: 10.35940/ijitee.L3029.1081219
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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: Deterioration rate may be constant or varies with time. In real life time dependent deterioration is observed in many products like fruits, bakery products, milk products etc. Generally deterioration rate increases as the time passes. In this paper we present an inventory model for the trapezoidal type demand function and time dependent deterioration rate. Demand rate depends on time as well as price. Shortages are allowed with partial backlogging. In order to illustrate solution procedure numerical examples and sensitivity analysis have been demonstrated.
Keywords: Inventory Model, Trapezoidal Type Demand, Deteriorating Items, Price and Time Dependent Demand
Scope of the Article: Numerical Modelling of Structures