• AN INVENTORY MODEL FOR DETERIORATING GOODS WITH TIME DEPENDENT QUADRATIC DEMAND AND TIME VARYING HOLDING COST WITH PARTIAL BACKLOGGING

Abstract

A deterministic inventory model is developed with time dependent demand and time varying holding cost and deterioration is considered to be time proportional. Shortages are allowed and demand is partially backlogged. The objective of the model is to develop an optimal policy that minimizes the total average cost. Numerical examples are used to illustrate the developed models. Sensitivity analysis of the optimal solution with respect to major parameters is carried out.