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Inventory Model with Shortages and Deterioration for Three Different Demand Rates

  • Shalini Singh
  • G. C. Sharma
Chapter
Part of the Asset Analytics book series (ASAN)

Abstract

The idea behind this work is to build a model with shortages for perishable good. In the past study, many inventory systems have not considered the effect of deterioration of goods which decline the inventory continuously for some products like medicine, milk-made items, vegetables, fruits. Here in this paper, we consider extra cost due to deterioration. We also introduce three different types of demand rates, viz. linear function of time, price-dependent and constant demand rate. Existing researches on this topic focus only on single demand rate and with trade credit for deteriorating items. The present investigation includes many parameters simultaneously like deterioration, shortages, different types of demand functions.

Keywords

Deterioration Shortages Price-dependent demand Linear function of time Constant demand rate 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Department of MathematicsAmity University, MumbaiMumbaiIndia
  2. 2.Department of MathematicsInstitute of Basic ScienceKhandariIndia

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