A Deterministic Inventory Model for Perishable Items with Lead Time and Price Dependent Demand

S. Kumar¹ , U.S. Rajput²

1. Dept. of Mathematics & Astronomy, Lucknow University, Lucknow, India.
2. Dept. of Mathematics & Astronomy, Lucknow University, Lucknow, India.

Section:Research Paper, Product Type: Isroset-Journal
Vol.5 , Issue.3 , pp.9-17, Jun-2018

CrossRef-DOI:   https://doi.org/10.26438/ijsrmss/v5i3.917

Online published on Jun 30, 2018

Copyright © S. Kumar , U.S. Rajput . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
In the present paper, an attempt has been made to develop a deterministic inventory model for perishable items with lead time and price dependent demand. Shortages are allowed and completely backlogged. The problem of perishability or deterioration plays an important role in the field of inventory control and management. The purpose of our study is to minimize the total variable inventory cost during a given period of time. A numerical example is given to demonstrate the developed model.

Key-Words / Index Term :
Inventory, Deterioration, Lead Time and Price Dependent Demand

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