Inventory policy for a deteriorating item: quadratic demand with shortages

Authors

  • 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. 

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Published

2016-02-17

Issue

Vol. 27 No. 2 (2007)

Section

Articles

License

JUST Vol. 43 Number 1 (2025) Copyright and Licensing statement

How to Cite

Inventory policy for a deteriorating item: quadratic demand with shortages. (2016). Journal of Science and Technology, 27(2). https://doi.org/10.4314/just.v27i2.656