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The copyright of a submitted article is only transferred to the publishers if and when the article is accepted for publication. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted inย any form or by any means, electronic, electrostatic, mechanical, photocopying, recording or otherwise without the prior written permission of the publishers.
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Inventory policy for a deteriorating item: quadratic demand with shortages
Abstract
We develop an inventory model for a deteriorating item having an instantaneous supply with a quadratic time-varying demand given by f(t)=a+bt+ct2; a๐ฒ, b๐, c๐ with shortages. The model is solved analytically to obtain the optimal solution for the problem. The sensitivity analysis of the optimal solution toward change in the values of the different system parameters is also examined. Numerical example is given to illustrate the proposed model.
Journal of Science and Technology (Ghana) Vol. 27 (2) 2007: pp. 89-95
