An Optimal Deterministic Two-Warehouse Inventory Model for Deteriorating Items
In this paper, an optimal deterministic two-warehouse inventory model for non-instantaneous deteriorating items under the dispatching policy of last in, first out (LIFO) has been developed. The demand rate and deterioration rate of an item are considered as ramp type and time dependent. Time dependent holding cost, inflation and shortages in inventory are allowed, which is partially backlogged are the various factors considered in this model. The main objective of this model is to develop an optimal policy, which minimizes the total average inventory cost. Finally, this model is illustrated, thoroughly by numerical examples.
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