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Deterministic models of perishable inventory with stock-dependent demand rate and nonlinear holding cost. (English) Zbl 0955.90003
Summary: This paper deals with an extended EOQ-type inventory model for a perishable product where the demand rate is a function of the on-hand inventory. The traditional parameters of unit item cost and ordering cost are kept constant; but the holding cost is treated as (i) a nonlinear function of the length of time for which the item is held in stock, and (ii) a functional form of the amount of the on-hand inventory. The approximate optimal solutions in both cases are derived. Computational results are presented indicating the effects of nonlinearity in holding costs.

MSC:
90B05 Inventory, storage, reservoirs
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