A STUDY OF EFFECT OF DETERIORATION ON THE INVENTORY MODEL

Main Article Content

SANTOSH KUMAR DIXIT
RAMESH YADAV
NAVNEET KUMAR SINGH

Abstract

The objective of this paper is to show how in today’s market, retailer offers the discount on the selling price which is treated as a promotional tool in the market. The retailer gives different types of discounts. The items have to maintain their quality throughout the horizon. An economic order quantity (EOQ) model is developing to analyse the effect of deterioration in inventory model. The non-instantaneous deteriorated item should be considered in the modeling. Those products, which deteriorate at the time, are known as instantaneous deteriorated items. Similarly, the items deteriorated after some times are known as a non-instantaneous deteriorated item. Here different discounts are offered to the customers. This article deals with the optimal ordering policies with the offers and discounts on the items with instantaneous and non-instantaneous deteriorated items. Some scenarios are also discussed in the article with the numerical explain followed by the conclusion. To support our study, we have illustrated it with a numerical example and finally sensitivity analysis is carried out for finding the effect of the parameters on the optimal solution.

Keywords:
Inventory, instanteous deterioration, non-instanteous deterioration, discount

Article Details

How to Cite
DIXIT, S. K., YADAV, R., & SINGH, N. K. (2021). A STUDY OF EFFECT OF DETERIORATION ON THE INVENTORY MODEL. Asian Journal of Mathematics and Computer Research, 28(4), 34-50. Retrieved from https://ikprress.org/index.php/AJOMCOR/article/view/7293
Section
Original Research Article

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