Inventory Model for Deteriorated Goods under Inflation and Permissible Delayed Payments
DOI:
https://doi.org/10.12725/ujbm.62.2Keywords:
Inflation, Inventory-Dependent Demand, Perishable GoodsAbstract
As-built models play a leading role in analyzing many real-world situations encountered in places such as grocery and vegetable markets, market yards, and oil extraction industries. In this article, we developed an inventory model for depleted items and set an acceptable default for inflation. Given his
model, the demand rate is assumed to depend on the inventory, and the deterioration rate
for each position follows a Weibull distribution. This model is developed under the circumstances depending on whether the credit life is less than the cycle time
Also, in these scenarios, new model have been developed to obtain the EOQ. Finally, we analyze the results and present working examples
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