An Economic Lot-Size Inventory Model for Deteriorating Items with Time-Sensitive Consumption and Reduced Deterioration Rate
This article proposes a lot-size economic inventory model under quadratic consumption rate with the speculation that rate of deterioration can be reduced by the latest scientific techniques of preservation. An analytical solution of this model is given to obtain the minimum average cost of the system. As an illustration, a numerical problem has been also given to support the validity of the solution of this model.
KeywordsDeterioration Preservation techniques Inventory Quadratic demand
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