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Optimum ordering interval for deteriorating items with price and time dependent demand rate. (English) Zbl 1220.90017

Summary: This study presents a deterministic inventory model for deteriorating products under the condition of instantaneous replenishment. The rate of deterioration is assumed to be a constant fraction of on hand inventory and demand is a function of selling price and decreases exponentially with time. It is shown that the developed model can be related to the Cohen model and the standard model without deterioration. A numerical example demonstrates the effectiveness of the developed model.

MSC:

90B05 Inventory, storage, reservoirs
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