An inventory model for deteriorating items when demand depends on advertisement and stock with partial backlogging

It is not always feasible that demand is constant or varying according to a particular fashion, there are lots of factors which affect the rate of demand such as advertisement, level of stock etc. In this presented inventory theory of deteriorating items demand is dependent on two factors, first is...

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Bibliographic Details
Main Authors: Kumar, Vipin, Rani, Monika, Kumar, Sachin
Format: Conference Proceeding
Language:English
Subjects:
Cost function
Demand
Mathematical analysis
Mathematical models
Minimum cost
Replenishment
Sensitivity analysis
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Summary:It is not always feasible that demand is constant or varying according to a particular fashion, there are lots of factors which affect the rate of demand such as advertisement, level of stock etc. In this presented inventory theory of deteriorating items demand is dependent on two factors, first is stock level and second is media advertisement. Shortage is allowed and when happened then it is partially backlogged and rate of backlogging is variable and is a function of waiting time for next replenishment. Optimized objective cost function is convex and obtained minimum cost. We have taken a numerical example to elaborate the presented model. In last sensitivity analysis is also discussed.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0115334