An Inventory Model for Decaying Item with Ramp Demand pattern under Inflation and Partial Backlogging

Yogendra Kumar Rajoria; S  R  Singh  and Seema Saini  nbsp

doi:10.17485/ijst/2015/v8i12/52341

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An Inventory Model for Decaying Item with Ramp Demand pattern under Inflation and Partial Backlogging

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Indian Journal of Science and Technology

DOI: 10.17485/ijst/2015/v8i12/52341

Year: 2015, Volume: 8, Issue: 12, Pages: 1-6

Original Article

An Inventory Model for Decaying Item with Ramp Demand pattern under Inflation and Partial Backlogging

Yogendra Kumar Rajoria^1*, S. R. Singh2 and Seema Saini¹

¹Department of Mathematics, Graphic Era University, Dehradun, Uttarakhand, India; [email protected], [email protected]

²Department of Mathematics, C.C.S. University, Meerut, U.P, India

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The present study proposed a mathematical model for decaying products with ramp type demand function under inflation. Inventory holding cost is an integral term of total cost of inventory organization. Partial backlogging is the decreasing function of waiting time. We explain numerical examples to obtain average total cost per unit time to understand the behavior of inventory system. We also used sensitivity analysis to show effect of changes in total optimal cost per unit time to illustrate the model. We use such type of demand pattern in which seasonal goods come in market, demand of items increases with time and become constant, and decreases to zero or some constant limit. So we use trapezoidal type demand function in place of other demand pattern under inflationary environments. Shortages are permitted which are partially backlogged.

Keywords: Holding Cost, Inflation, Inventory, Ramp Type Demand, Shortages