Estimation of inventory for deteriorating items with non-linear demand considering discount and without discount policy

Estimation of inventory for deteriorating items with non-linear demand considering discount and without discount policy

This paper develops an inventory model for deteriorating items consisting the ordering cost, unit cost, opportunity cost, deterioration cost and shortage cost. In this inventory model instead of linear demand function nonlinear exponential function of time for deteriorating items with deterioration rate has been considered. The effects of inflation and cash flow are also taken into account under a trade-credit policy of discount and without discount with time. In order to validate the model, numerical examples have been solved by bisection method deploying Matlab.  Further, in order to estimate the cash flow the sensitivity of different parameters is considered.

Mondol, Manik

Uddin, M. Forhad

Hossain, M. S.

Journal of Naval Architecture and Marine Engineering; Vol. 13 No. 2 (2016); 151-164

2070-8998

1813-8535

Association of Naval Architects and Marine Engineers

2016-12-29

Copyright (c) 2016 Journal of Naval Architecture and Marine Engineering

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