Indian Journal of Science and Technology
Year: 2015, Volume: 8, Issue: 12, Pages: 1-6
Yogendra Kumar Rajoria1*, S. R. Singh2 and Seema Saini1
2 Department of Mathematics, C.C.S. University, Meerut, U.P, India
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
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