Inventory policy for a deteriorating item: quadratic demand with shortages

  • F E Osagiede
  • A A Osagiede
DOI: https://doi.org/10.4314/just.v27i2.656
Keywords: Inventory, Deterioration, EOQ, Sensitivity analysis, Time-varying quadratic demand, 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; a𕟲, bð•Ÿ€, cð•Ÿ€ 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. 

Published
2016-02-17
How to Cite
Osagiede, F. E., & Osagiede, A. A. (2016). Inventory policy for a deteriorating item: quadratic demand with shortages. Journal of Science and Technology, 27(2). https://doi.org/10.4314/just.v27i2.656
Issue
Vol 27 No 2 (2007)
Section
Articles