The proposed model based on the global market strategies as for how the demand vary of the new seasonal products when they entered in the markets. The model has developed for the seasonal products or new consumer goods. The demand rate has considered Ramp-type based on the seasonal products having a time-dependent deterioration rate. The mathematical formulation of the proposed model is given. The present article consists two inventory model differ to each other as (a) in the first model stock-out situation is considered as completely backlogged; (b) in the second model partial backlogged stock-out situation is inserted. To obtain the optimal solution solved the proposed model analytically and shown the convexity of the proposed models graphically by using Mathematica 9.0. Numerical examples are given to test and verify the theoretical results. Ultimately, the sensitivity of the optimal solution with respect to major parameters with concluding remarks are discussed.
Analysis of an Inventory Model with Time-dependent Deterioration and Ramp-type Demand Rate: Complete and Partial Backlogging,
Applications and Applied Mathematics: An International Journal (AAM), Vol. 13,
2, Article 28.
Available at: https://digitalcommons.pvamu.edu/aam/vol13/iss2/28