Model for inventory having variable ordering and holding costs with salvage value

Inventory models for worsening objects are constructed when the demand amount is projected to be a quadratic function of the period, and the worsening rate is proportional to the period. When shortages are tolerated, the problem is resolved. Costs of holding and ordering are variables. Items in the...

Full description

Saved in:
Bibliographic Details
Main Authors: Khare, Garima, Sharma, Garima
Format: Conference Proceeding
Language:English
Subjects:
Inventory management
Mathematical models
Quadratic equations
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Inventory models for worsening objects are constructed when the demand amount is projected to be a quadratic function of the period, and the worsening rate is proportional to the period. When shortages are tolerated, the problem is resolved. Costs of holding and ordering are variables. Items in the system that have deteriorated are given the salvage value. The sensitivity of the models is discussed using a numerical example.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0201389